KB Home Earnings: KBH Stock Climbs 9% on Q1 Beat

KB Home (NYSE:KBH) earnings for fiscal first quarter of 2020 have KBH stock on its way up after-hours Thursday. Its diluted earnings per share (EPS) of 63 cents beat out Wall Street’s estimate of 44 cents. The home building company’s company’s revenue of $1.08 billion is also better than analysts’ estimates of $955.5 million.

KB Home Earnings: KBH Stock Climbs 7% on Q1 Beat

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Now, let’s see what else went right in the most recent KB Home earnings report.

  • Diluted per-share earnings for the quarter come in 103.23% higher than the 31 cents in the fiscal first quarter of 2019.
  • Revenue is sitting up 33.09% over the $811.48 million reported during the same time last year.
  • Operating income of $60.2 million is a 92.09% increase year-over-year from $31.34 million.
  • The KB Home earnings report also includes a net income of $59.75 million.
  • That’s a 99.1% increase compared to the company’s net income of $30.01 million in the same period of the year prior.

Jeffrey Mezger, chairman, president and CEO of KB Home, said the following about the KBH stock earnings report:

“While our performance in the first quarter was strong, with underlying market conditions that were robust, these results preceded the COVID-19 pandemic declaration, and we are now taking actions to adjust our business in this period of uncertainty.”

There’s no fiscal 2020 guidance present in the current KB Home earnings report. The company is withdrawing its guidance for the year due to the effects of the coronavirus from China.

KBH stock was up 9.28% after markets closed on Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/kb-home-earnings-boost-kbh-stock-up/.

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