KB Home Reaffirms Q4 Targets, Projects Up To $4.2 Bln In FY17 In Housing Revenue
WASHINGTON (dpa-AFX) - KB Home (KBH) Wednesday reaffirmed its financial targets for the fourth quarter.
The company expects inventory related charges of $30 to $40 million for the quarter as it plans to sell 20 land parcels, mostly in Southeast region.
At the investor conference in Los Angeles, the company said its net order growth for the fourth quarter was 14 percent.
For the full year 2017, the company projects housing revenues to be in a range of $3.8 billion to $4.2 billion. Average selling price is expected to be $370 thousand to $385 thousand. Operating income margin for the year is projected to be 5.7 to 6.3 percent and the average community count will be approximately flat compared to 2016.
Looking ahead to 2019, the company plans to target housing revenues greater than $5 billion, with an operating income margin of 8 to 9 percent. The company expects 2016 return on invested capital in excess of 10 percent and return on equity in the low to mid double digit range.
Copyright RTT News/dpa-AFX
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