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KBH > UP 7% in PM > news > KB Home Earnings Rise, Beating Estimates
5:47 pm ET June 28, 2018 (Dow Jones) Print
By Nishant Mohan

KB Home (KBH) reported a rise in profit in the second quarter as growth in homebuilding revenue outpaced expenses.

Shares in the home builder gained 4% to $26.40 after-hours Thursday, adding to a 1.7% increase during regular trading. Shares had fallen 21% so far this year.

KB Home earned a profit of $57.3 million, or 57 cents a share, up 73% from a year earlier. Analysts polled by Thomson Reuters had expected earnings of 48 cents a share. Revenue rose 10% to $1.1 billion, ahead of analysts' estimates of $1.04 billion.

The company reported deliveries increased 5% to 2,717 homes as the average selling price rose 4% to $401,800. The company reported inventories rose 6% since November to $3.46 billion.

KB Home reported the operating income margin increased to 6.8% from 5% a year ago.

Write to Nishant Mohan at [e-mail]

(END) Dow Jones Newswires

June 28, 2018 17:47 ET (21:47 GMT)

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