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

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Goldrea Resources Corp.

Goldrea Resources Corp is engaged in the acquisition, exploration and development of mineral properties located in North America.

Private Markets

CF0005, LLC dba Mesa-Marshall #1-2

MESA Resources, Inc. ("MESA") is sponsoring the development of the oil & gas well completion project "Mesa-Marshall #1-2". MESA, founded in 1992, is engaged in the acquisition, exploration and development…

Voleo

Voleo is a free download that allows you to form investment clubs with your friends, family, colleagues, classmates, teammates…basically anyone you know and trust. Invest and manage a stock portfolio…