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March 19, 2014
12:02 EDTNSM, KBHKB Home says Q1 average square footage of homes increased 8% YoY
KB Home (KBH) says it sees continued gross margin expansion over the balance of the year, goal is for gross margins exceeding 20%. The company says it is committed to containing overhead costs. Expects to continue to deliver year-over-year profit improvement going forward. Sees community growth accelerating especially in 2H. Says will continue to seek out shorter term opportunities to enhance FY14, FY15 deliveries. Says regulatory approvals for mortgage joint venture with Nationstar (NSM) have taken longer than originally anticipated, continues to clear hurdles and expect to complete the approval process within this quarter. Says economic recovery continues at measured rate, housing market continues recovery at steady pace. Says mortgage underwriting standards remain tight. Says solidly positioned with sales momentum and expects to sustain profitable growth going forward. Says sales, traffic strong in January and February, traffic up "dramatically" in February over prior year. Sees increase in year-end community count of 15%-20% vs. 2013. Sees average selling price continuing to trend higher for the remainder of 2014. Comments made during the company's Q1 earnings conference call.
News For KBH;NSM From The Last 14 Days
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October 2, 2015
12:27 EDTKBHBalyasny Asset reports 5.48% passive stake in KB Home
September 24, 2015
12:02 EDTKBHKB Home says may have 'slight' sequential decline in year-end community count
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11:58 EDTKBHKB Home sees 2015 average community count expansion in excess of 20% vs. 2014
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11:54 EDTKBHKB Home sees Q4 housing revenue $1.04B-$1.1B
Says in "active" negotiations on additional land sales, but doesn't see closing any deals in Q4. Sees housing gross profit margin increasing sequentially in Q4. Still sees housing gross profit margin in excess of 18% in Q4. Sees Q1 housing gross profit margin in mid 16% range
11:50 EDTKBHKB Home says entering Q4 from 'position of strength'
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08:32 EDTKBHKB Home: Q3 results showed broad-based improvement in virtually all metrics
"Our third quarter results showed broad-based improvement in virtually all key operational and financial metrics across our four regions," said Jeffrey Mezger, president and CEO. "In particular, we achieved appreciable growth in homes delivered, revenues and pretax earnings in the third quarter largely through the execution of our core strategies. This performance reflects our measurably expanded community count and success in converting the robust backlog we built during the first half of this year into deliveries. Moving forward, we remain focused on improving profitability by expanding our housing gross profit margin and increasing operating leverage as we continue to build up the scale of our business. Based on the progress we have made on our strategic priorities, our significantly higher backlog, and the continued improvement in housing market fundamentals, we are anticipating a strong finish to the year. Furthermore, we expect to maintain this momentum into 2016."
08:31 EDTKBHKB Home reports Q3 EPS 23c, consensus 22c
Reports Q3 revenue $843.2M, consensus $818.53M. 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. Potential future housing revenues in backlog grew 44% to $1.59 billion at August 31, 2015, from $1.10 billion at August 31, 2014, reflecting substantial year-over-year increases in each of the Company's four regions. Net orders grew 19% to 2,167 for the quarter, compared to 1,827 in the year-earlier quarter. The cancellation rate as a percentage of gross orders of 30% was nearly even with the third quarter of 2014, and as a percentage of beginning backlog was 20% versus 24% a year ago. The Company's overall average community count for the third quarter increased 30% to 257 from 197 for the year-earlier quarter.
September 23, 2015
15:02 EDTKBHNotable companies reporting before tomorrow's open
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14:41 EDTKBHKB Home volatility elevated into Q3 and outlook
KB Home October call option implied volatility is at 51, November is at 44; compared to its 52-week range of 25 to 53, suggesting large near term price movement into the expected release of Q3 results on September 24.

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