KB Home Shares Fall 3% After Earnings Miss and Margin Compression

KB Home (NYSE: KBH) reported first-quarter results that came in below Wall Street expectations, with shares declining more than 3% intra-day Wednesday following the release. The homebuilder reported earnings per share of $0.52, missing the analyst consensus of $0.55. Revenue totaled $1.08 billion, down 23% year over year and slightly below the $1.09 billion estimate. Housing gross profit margin, excluding inventory-related charges, declined to 15.5% from 20.3% in the prior-year quarter. The compression was ...