KB Home’s First-Quarter Loss Narrows as House Sales Climb
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KB Home, the best-performing U.S. homebuilder stock this year, reported a narrower loss for its fiscal first quarter as sales and prices climbed amid a nationwide rebound in housing construction.
The net loss for the three months ended Feb. 28 was $12.5 million, or 16 cents a share, compared with $45.8 million, or 59 cents, a year earlier, the Los Angeles-based company said today in a statement. Analysts expected a loss of 22 cents a share, the average of 17 estimates compiled by Bloomberg.