KB HOMES, INC (KBH)

EARNINGS RELEASE WEDNESDAY - SEPTEMBER 25 (AMC)

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Avg Daily Volume: 426,003    Market Cap: 5B
Sector: Services    Short Interest: 5.33

EARNINGS EXPECTATIONS:  

     THIS QTR:   EPS:    .66/share     REV:  1,170/M
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     LAST QTR:  EPS:     .40/share     ACTUAL:   .51/share  (BEAT)
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     NEXT QTR:  EPS:     1.24/share     REV: 1,540/M
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     FULL YR:     EPS:     2.71/share    REV: 4,550/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD:  67%  OF THE TIME THEY BEAT ESTIMATES

PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) 9.3, 5.52, -5.41

POTENTIAL JUMP MOVE:   8-9%

Links To Latest News and Headlines

20 Oct, 2020 @ 15:28 by Yahoo! Finance

NVR's third-quarter results reflect improved U.S. housing market backdrop.

(Bloomberg) — U.S. new home starts increased in September on a sharp gain in single-family house construction while building permits climbed, indicating residential building had plenty of momentum at the end of the third quarter.Residential starts increased 1.9% to a 1.42 million annualized rate from a month earlier, according to a government report released Tuesday. The median forecast in a Bloomberg survey of economists called for a 1.47 million pace. Applications to build, a proxy for future construction, rose 5.2% to a 1.55 million rate, the fastest since 2007 and topping forecasts.Construction of one-family homes climbed in September to the highest level in more than 13 years, and accounted for 78% of total homebuilding which was the largest share since 2010. At the same time, fewer multifamily projects were started, which reflects a shift in tastes because of the pandemic as Americans seek more space and flock to suburbs.“Rock-bottom mortgage rates and families looking for more space are fueling demand and more than offsetting the impact of labor market turmoil,” Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc, said in a note. “We continue to believe that the single-family sector will lead the way up for housing, with multifamily providing somewhat of a negative offset.”Housing has been a highlight for the economy during the recovery from the Covid-19 pandemic. The recent upswing in residential real estate shows few signs of slowing as mortgage rates continue to fall to new lows, helping explain record-high optimism among the nation’s builders.Lean InventoryThe government’s most-recent report on new-home sales showed that in August, the supply of properties would last 3.3 months, the shortest time frame in records back to 1963.At the same time, the damage to the job market caused by the measures aimed at controlling the spread of the coronavirus remains a headwind. Millions remain unemployed and Congress has yet to agree on a new relief package to support the jobless and small businesses. Other restraints on the residential real estate market and construction include higher costs for building materials.The government’s report showed beginning construction of one-family homes rose to a 1.11 million annual rate. Multifamily starts, a category that tends to be volatile and includes apartment buildings and condominiums, decreased 16.3% to a 307,000 pace.In the South, the nation’s largest region, new single-family home construction starts rose 17.7% to a more than 13-year high. They also rose in the Northeast and West.Permits to build single-family homes increased 7.8% to the strongest level since 2007. The number of one-family residential projects authorized but not yet started advanced in September to the highest since 2018, indicating growing builder backlogs.Robust demand is evident in builders’ results. KB Home in September reported a 27% year-over-year increase in orders during the three months through August, beating expectations.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Focus on entry-level buyers and robust housing market fundamentals are likely to have aided Meritage Homes' (MTH) Q3 Homebuilding revenues.

(Bloomberg) — KB Home reported quarterly orders that beat expectations, further evidence that the pandemic has accelerated demand for new homes across the U.S.Orders for the three months through August rose 27% from a year earlier to 4,214, according to a statement Tuesday. Analysts surveyed by Bloomberg were expecting 3,920. The shares slipped in late trading.Key InsightsExpectations were high because many of KB Home’s competitors have reported skyrocketing demand. M.D.C. Holdings Inc. said orders in July and August jumped 75% from a year earlier, and luxury builder Toll Brothers Inc. reported a 110% increase year-over-year for Aug. 1 to Sept. 15.Orders increased in each of KB Home’s four regions, with the company getting a boost from its focus on first-time buyers. Demand remained strong after the end of the quarter, with orders in first three weeks of September rising 32% from the same period a year earlier, according to the statement.Unlike competitors, KB Home doesn’t have much inventory of properties that are under construction or completed and ready for occupancy. That build-to-order model may have cost the company some sales, though Chief Executive Officer Jeffrey Mezger touted it as a benefit, “underscoring the robust demand for the choice and personalization we offer.”Market ReactionKB Home shares were down 0.5% in late trading, to $40.29 at 6:11 p.m. in New York. They have climbed 18% this year, trailing the 30% gain for an S&P index of homebuilder stocks.Get MoreClick here to read the earnings statement.(Adds reports from other builders in first bullet of ‘Key Insights’ section. A previous version of this story corrected the day of the week in first bullet point.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

22 Sep, 2020 @ 20:58 by Yahoo! Finance

Shares of KB Home (NYSE:KBH) rose 1.5% in after-market trading after the company reported Q3 results.Quarterly Results Earnings per share were up 13.70% year over year to $0.83, which beat the estimate of $0.54.Revenue of $999,013,000 declined by 13.95% from the same period last year, which beat the estimate of $893,240,000.Outlook Earnings guidance hasn't been issued by the company for now.Conference Call Details Date: Sep 22, 2020Time: 05:00 PMView more earnings on KBHET Webcast URL: https://edge.media-server.com/mmc/p/8uv5qoqtTechnicals 52-week high was at $40.5152-week low: $9.82Price action over last quarter: Up 39.79%Company Overview KB Home is an American construction company that focuses on residential construction. The company builds single-family homes and communities across Arizona, California, Colorado, Florida, Nevada, Texas, North Carolina, and the Washington, D.C., area. KB Home operates in over several markets and focuses on first-time and move-up homebuyers. The company follows a built-to-order model that offers personalized homes at attainable prices based on market location. The company also invests in land acquisition and development to support future building activities.See more from Benzinga * Earnings Scheduled For September 22, 2020 * KB Home's Earnings: A Preview * Benzinga's Top Upgrades, Downgrades For September 16, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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