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.
Two of the nation’s biggest residential-construction companies are merging in hopes that their combined heft will help them counter those forces.
Warmington Residential has announced new Presidents in its two California divisions. As of January 1, 2017, Tom Hildebrandt is President of the Costa Mesa-based Southern California division and Ryan Gerding
M.D.C. Holdings (NYSE:MDC), Denver, parent of Richmond American Homes, on Wednesday reported net income of $40.4 million, or $0.78 per share, for the fourth quarter ended Dec. 31, 2016. The
