KBH is a major home builder. The company reported better than expected earnings of $0.42 vs. $0.39 consensus. However revenues of $913 million were below $944 million consensus. Average selling price rose by 2% to $365,900.
Over all the tone coming out of the company is positive.
The stock is trading higher by 4.29% at $15.54. This is a welcome relief after earnings from competitor LEN made the entire home building sector trade lower yesterday. Home builder ETFs XHB and ITB as well as stocks such as TOL, LEN, PHM, and CAA traded lower yesterday.