KB Misses on 4Q 2015 Earnings
KB Home reported 4Q 2015 earnings of $44 million, or 43 cents a share, compared to analyst expectations of 50 cents a share. KB also reported that average selling prices increased 8% from a year earlier and revenue and deliveries were up 24% and 15%, respectively, in the same timeframe. CEO, Jeffrey Mezger, blamed the earnings miss on lower than anticipated deliveries due to labor shortages and weather. The stock was down close to 15% at market close.
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