KB Misses on 4Q 2015 Earnings

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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About author

Michael Anderson
Michael Anderson 249 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

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