KB Home Q2 Profit Decreases; Revenues Up 10% - Quick Facts

(RTTNews) - KB Home (KBH) reported second-quarter net income of $9.6 million or $0.10 per share, compared to $26.6 million or $0.27 per share, prior year. Total pretax income was $12.7 million, compared to $26.9 million.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.08 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 10% to $622.97 million from $565.01 million in the comparable quarter last year, while 13 analysts expected revenue of $619.05 million for the quarter. The current quarter revenue growth was driven by increases in the Company's housing and land sale revenues.

Housing revenues grew 8% to $604.9 million from $559.8 million, last year. The company delivered 1,787 homes in the second quarter, representing an increase of 2% from 1,751 homes delivered in the year-earlier quarter.