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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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KB Home (KBH) CEO Jeff Mezger on Q3 2020 Results – Earnings Call Transcript

KB Home (NYSE:KBH) Q3 2020 Earnings Conference Call September 22, 2020 5:00 PM ET

Company Participants

Jill Peters – SVP, IR

Jeff Mezger – Chairman, President and CEO

Matt Mandino – EVP and COO

Jeff Kaminski – EVP and CFO

Bill Hollinger – SVP and Chief Accounting Officer

Thad Johnson – SVP and Treasurer

Conference Call Participants

Matt Bouley – Barclays

Stephen Kim – Evercore ISI

Alan Ratner – Zelman & Associates

Truman Patterson – Wells Fargo

John Lovallo – Bank of America

Buck Horne – Raymond James

Mike Dahl – RBC Capital Markets

Michael Rehaut – JPMorgan

Jay McCanless – Wedbush

Good afternoon. My name is Devon, and I will be your conference operator today. I would like to welcome everyone to the KB Home 2020 Third Quarter Earnings Conference Call.

At this time, all participants are in a listen-only mode. Following the company’s opening remarks, we will open

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Low Rates to Aid KB Home (KBH) Q3 Earnings Amid Coronavirus?

KB Home KBH is slated to report third-quarter fiscal 2020 (ended Aug 31, 2020) results on Sep 22, after market close.

In the last reported quarter, its earnings missed the Zacks Consensus Estimate by 3.5%, after surpassing the same in each of the prior 17 quarters. Revenues also missed the consensus mark in the fiscal second quarter by 14.8%. On a year-over-year basis, its bottom line increased while top line declined on lower deliveries and average selling price (ASP).

Trend in Estimate Revision

For the quarter to be reported, the Zacks Consensus Estimate for earnings has increased 4.3% over the past 60 days to 48 cents per share. The estimate indicates a 34.3% decrease from the year-ago earnings of 73 cents per share. The consensus estimate for revenues is pegged at $895.8 million, suggesting a decline of 22.8% from the prior-year quarter.

KB Home Price and EPS Surprise

KB Home Price and EPS Surprise

KB Home

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Continue Reading Low Rates to Aid KB Home (KBH) Q3 Earnings Amid Coronavirus?