RBC Capital Downgrades KB Home (KBH) to Sector Perform

Go back to RBC Capital Downgrades KB Home (KBH) to Sector Perform

KB HOME (KBH) Misses Q3 EPS by 12c

September 24, 2014 8:32 AM EDT

KB HOME (NYSE: KBH) reported Q3 EPS of $0.28, $0.12 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $589.2 million versus the consensus estimate of $646.8 million.

Adjusted housing gross profits in the quarter were $111.22 million, from $105.35 million in the prior-year quarter.

The Company delivered 1,793 homes in the third quarter, compared to 1,825 homes delivered in the year-earlier quarter. Deliveries in the quarter were tempered by delays in construction schedules and customer mortgage loan closings that resulted in some deliveries being deferred to the fourth... More