<p>KB Home (NYSE: KBH) revenues for the fiscal policy first quarter of 2020, KBH shares are on the rise after Thursday Thursday. Its diluted earnings per share (EPS) of 63 cents beat Wall Street‘s estimate of 44 cents. The construction company’s revenue of $ 1.08 billion is also better than analysts’ estimates of $ 955.5 million.
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Let’s now see what went more in the latest KB Home results report.
Earnings per share dilution for the quarter were 103.23% higher than the 31 cents in the first fiscal quarter of 2019. Revenue increased 33.09% compared to the $ 811.48 million reported during the same period last year. Operating profit of $ 60.2 million is an increase of 92.09% compared to the same period last year from $ 31.34 million. The KB Home earnings report also includes a net profit of $ 59.75 million. This is an increase of 99.1% compared to the company’s net profit of $ 30.01 million during the same period last year.
Jeffrey Mezger, Chairman of the Board, President and CEO of KB Home, said the following about KBH’s share income report:
“While our development during the first quarter was strong, with underlying market conditions being robust, these results preceded the COVID-19 pandemic declaration, and we are now taking steps to adjust our operations during this period of uncertainty.”
There is no guidance for the financial year 2020 in the current report on KB home income. The company is withdrawing its guidance for the year due to the effects of coronavirus from China.
The KBH share rose 9.28% after the markets closed on Thursday.
At the time of writing, William White had no position in any of the above securities.
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