KB Home (KBH) Tops Q4 Earnings Estimates, Backlog Strong
KB Home KBH reported impressive fourth-quarter fiscal 2016 earnings of 40 cents per share that surpassed the Zacks Consensus Estimate of 37 cents by 8.1%. On a year-over-year basis, the reported figure was down 7%.
Total revenue of $1,191.9 million in the quarter beat the Zacks Consensus Estimate of $1,168 million by 2%. That said, revenues registered a 20.9% year-over-year increase, driven by higher housing revenues.
Shares of the homebuilder gained 2.41% in the after-hours trading session after the earnings release on Jan 10. Though earnings remain subdued owing to soft performance by Financial Services, investors are impressed with the company’s revenue as well as backlog levels.
