KB Home Turns Q2 Profit; Beats Estimates (KBH)

Before Friday’s opening bell, homebuilder KB Home (KBH) released its second quarter financial results, which came in higher than last year’s Q2 earnings. 

KBH’s Earnings in Brief

KBH posted Q2 earnings of $26.62 million, or 27 cents per share, compared to a net loss of $2.97 million, or 4 cents per share, a year ago. Revenue rose 8% to $565 million, from $524.4 million last year. On average, analysts expected to see EPS of 20 cents and revenues of $563.1 million. The company delivered 1,751 homes in the most recent quarter, compared to 1,797 homes in the same quarter last year.

CEO Commentary

President and CEO Jeffrey Mezger commented: “We acquired several attractive large land positions and substantially advanced our land development in the second quarter to reinforce the upward trajectory of our business.We expect to measurably expand our community count into 2015 with the significant investments we are making in our land pipeline. We believe that with these and other strategic initiatives we have underway and the performance improvements we have delivered over the past several quarters, we are well positioned for accelerated revenue growth and profitability going forward.”

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KBH’s Dividend

KBH paid its last 2.5 cent dividend on May 15. We expect the company to declare its next dividend in July.

KBH Dividend Snapshot

As of market close on June 26, 2014

Click here to see the complete history of KBH dividends.

KB Home shares were up 29 cents, or 1.62%, during pre-market trading Friday. The stock is down 2.19% YTD.