Another black eye for the housing sector: KB Home reported that its third-quarter loss was more than four times that of the same quarter last year.
The homebuilder posted a quarterly loss of $144.7 million, or $1.87 per share; compare this to its year-ago loss of $35.6 million, or 46 cents per share.
However, the figures can be read with a tinge of optimism: The year-ago period included divestment of a French business unit; excluding gains from that divestment, those losses amounted to $478.6 million, or $6.19 per share.
The California-based homebuilder's latest results included pretax charges of $82.2 million.
And another ray of hope: Jim Cramer says KB Home could soar on the Paulson Plan.
_____________________________________
Rival Homebuilders:
(Click tickers For complete stock data)
- DR Horton
- Lennar
- Hovnanian
- Toll Bros.