KB Home’s Loss Narrows as Revenue, Prices Increase
This article is for subscribers only.
KB Home, the Los Angeles-based homebuilder that focuses on first-time buyers, reported a smaller third-quarter loss as revenue increased for the first time in almost four years.
The loss in the quarter ended Aug. 31 shrank to $1.4 million, or 2 cents a share, from $66 million, or 87 cents, a year earlier, KB Home said today in a statement. The average estimate of 16 analysts in a Bloomberg survey was for a loss of 17 cents a share. Revenue climbed 9 percent to $501 million.