KB Home Q3 Profit Declines, But Revenues, Home Deliveries Rise - Quick Facts

(RTTNews) - Home builder KB Home (KBH) reported that third-quarter net income declined to $23.25 million or $0.23 per share from $28.36 million or $0.28 per share in the prior-year quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter increased 43 percent to $843.16 million from $586.23 million in the same quarter last year, while fourteen Wall Street analysts had a consensus revenue estimate of $818.53 million.

Housing revenues grew 36 percent to $840.20 million from $586.20 million last year. The company delivered 2,236 homes in the quarter, up 25 percent from 1,793 homes delivered in the year-ago quarter.