Homebuilder KB Home $KBH Reports Strong Revenue and Orders
Homebuilder KB Home $KBH reported lower 4Q16 earnings despite revenue rising 20.81% to $1.19 billion, topping estimates for $1.15 billion. Earnings was down 7% from a year earlier to $0.40 per diluted share from $44.02MM or $0.43 per diluted share a year ago but beat expectations by a penny. Profits were hurt by increased costs.
Orders rose 20% on the year, net order value grew 27% to $855.9 Mil. Its backlog grew 19% for the quarter to $1.52 billion, the best year-end level since 2006. The average selling price rose 2% vs. a year earlier to $387,400.
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