KB Home beats Street 4Q forecasts

Associated Press |

LOS ANGELES (AP) _ KB Home (KBH) on Wednesday reported fiscal fourth-quarter earnings of $37.5 million.

The Los Angeles-based company said it had net income of 40 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The homebuilder posted revenue of $1.19 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.16 billion.

For the year, the company reported profit of $105.6 million, or $1.12 per share. Revenue was reported as $3.59 billion.

KB Home shares have climbed 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.60, a rise of 59 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KBH at https://www.zacks.com/ap/KBH

Keywords: KB Home, Earnings Report

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