KB Home posts lower profit, sees 38% jump in net orders
OtherHomebuilder KB Home (KBH: 6.93 -4.02%) ended the fourth quarter on a muted high note with the firm still profitable, despite a decline in earnings, and a 38% year-over-year jump in net home orders. The fiscal year for the homebuilder ends Nov. 30. The Los Angeles-based builder posted a fourth-quarter profit of $13.9 million, or 18 cents per share. That is down from a profit of $17.4 million, or 23 cents per share, a year earlier. Still, the builder beat the street estimate of earnings in the three cent-per-share range, […]
