KB Home Third Quarter 2012 Numbers | ||
Quarter Three | Nine Months | |
Profit/(Loss) | $3.3M +133.8% | ($66.7M) +65.4% |
Home Deliveries | 1,720 +7.3% | 4,160 +9% |
New Orders | 1,900 +3.4% | 5,146 +0.16% |
Behind the Numbers:
KB Home narrowly passed into profitability in its third quarter, but still has a loss for the first nine months of its fiscal year. KB has been trying to reposition itself into a higher end builder, jettisoning some of its older land positions, which has left it short of new lots and hampered sales. That trend is expected to continue through the company’s fourth quarter as it works to re-load with new communities, said CEO Jeffrey Mezger in the earnings release, adding he expects the trend to reverse in 2013 as new communities come on line.
KB Home’s third quarter ended Aug. 31.
