KB Home (KBH) Tops Q3 EPS by 1c

KB Home (NYSE: KBH) reported Q3 EPS of $0.23, $0.01 better than the analyst estimate of $0.22. Revenue for the quarter came in at $843.2 million versus the consensus estimate of $818.63 million.

• Housing revenues increased 36% to $798.6 million from $586.2 million for the corresponding period of 2014, reflecting greater delivery volume and a higher overall average selling price.
  • The Company delivered 2,236 homes, up 25% from 1,793 homes in the year-earlier quarter.
  • The overall average selling price rose 9% to $357,200, compared to $327,000 a year ago, as average selling prices increased in each of the Company’s four regions.
• Land sale revenues totaled $41.6 million, reflecting activity in the Company’s West Coast, Southwest and Southeast regions. There were no land sales in the year-earlier period.

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

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