KB Home (KBH) Tops Q4 EPS by 2c

KB Home (NYSE: KBH) reported Q4 EPS of $0.96, $0.02 better than the analyst estimate of $0.94. Revenue for the quarter came in at $1.35 billion versus the consensus estimate of $1.35 billion.

Backlog and Net Orders (comparisons on a year-over-year basis)

• Net orders for the fourth quarter decreased 12% to 2,013. Net order value declined 21% to $738.3 million.
• Company-wide, net orders per community averaged 2.9 per month, compared to 3.4 per month.
• The fourth quarter cancellation rate as a percentage of gross orders was flat at 28%.
• The number of homes in ending backlog totaled 4,108, compared to 4,411.
• Ending backlog value of $1.43 billion decreased 14%, reflecting fewer homes in backlog and the lower average selling price of those homes due to a shift in geographic mix.
• Ending community count grew 7% to 240. Average community count for the fourth quarter increased 2% to 232, and was 7% higher compared to the 2018 third quarter.

For earnings history and earnings-related data on KB Home (KBH) click here.

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