— KB Home (NYSE: KBH) reported first-quarter 2020 earnings of $0.63 per share vs. $0.44 expected.
— Revenue surged 33% to $1.08 billion vs. $955.5 million expected.
— Due to the uncertainty surrounding the spread of COVID-19 and the unprecedented public health and governmental efforts to contain it, KB Home withdrew its guidance for fiscal 2020.
— Homes delivered grew 28% to 2,752, with increases in all four of the company’s regions.
— Net orders rose 31% to 3,495, with net order value up 35% to $1.38 billion.
— ending backlog rose 26% to 5,821 homes. Ending backlog value grew 28% to $2.12 billion, compared to $1.66 billion, reflecting increases in all four regions.
— KBH stock, which dropped 45% so far this year, rose about 8% immediately after the earnings announcement.
Most Popular
Does Unity Software (U) stock has more room to run?
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
Does the virus-driven boom make Electronic Arts (EA) a good investment?
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,
3 thoughts on “KB Home (KBH) Q1 2020 Earnings Snapshot”