KB Home gains after beating estimates

Deliveries of 1,751 homes down from 1,797 a year ago.

ASP of $319.7K up 10% Y/Y.

Gross profit margin of 18.9% up 380 bps, the highest Q2 margin since 2006.

Backlog of 3,398 homes up 9% Y/Y. Backlog value of $1.03B up 24%.

Net orders of 2,269 homes up 5%. Average community count of 191 up 7%.

CC at 8:30 ET

KBH +2.5% premarket

Previously: KB Home beats by $0.07, beats on revenue

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