Posted in home improvement loans

KB Home (KBH) Q3 Earnings Beat, Margins Rise, Stock Slides

KB Home’s KBH stock slips 1.5% in the after-hours trading session on Sep 22, after it reported third-quarter fiscal 2020 (ended Aug 31, 2020) results. Although both earnings and revenues topped the respective Zacks Consensus Estimate on solid housing gross margin, the company expects its ending community count to remain relatively flat sequentially for the next two quarters.

Earnings & Revenue Discussion

The company reported quarterly earnings of 83 cents per share, which surpassed the consensus estimate of 50 cents by 66%. Also, the metric grew 13.7% from the year-ago figure of 73 cents per share owing to improvement in housing gross margin.

KB Home Price, Consensus and EPS Surprise

KB Home Price, Consensus and EPS Surprise

KB Home price-consensus-eps-surprise-chart | KB Home Quote

Total revenues of $999 million topped the consensus mark of $896 million by 11.6% but fell 13.9% on year-over-year basis due to COVID-19 impacts.

Segment Details

Homebuilding: For the quarter under

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Posted in improvements

CPCL targets improvements to margins

Measures to boost realisation include a naphtha splitter, low sulphur fuel oil foray

State-owned refiner Chennai Petroleum Corporation Ltd. (CPCL) , which posted a loss of ₹2,078 crore in FY20, has planned several initiatives for the current fiscal to improve its operational performance, said a top official.

CPCL posted a pre-tax profit of ₹430 crore in the first quarter following improvement in crude prices though product margins continued to remain below the economic level and demand was only 70-75% of the normal. “We expect the demand to significantly improve by Q3 of FY21,” Chairman S.M. Vaidya told shareholders at the annual general meeting.

“CPCL has initiated many measures to improve profitability and reduce operating costs and with good physical performance combined with these new measures, we are confident of better financial performance in the current fiscal,” he said.

As part of measures to improve margin realisation, a naphtha splitter was

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