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SPDR Homebuilders ETF (XHB)

  • Thu, Jan. 15, 11:31 AM
    • The company earlier reported bottom-line results which beat estimates, but the top line slightly missed.
    • FQ4 (ending Nov. 30) deliveries of 6,950 homes gained 23% from a year ago. New orders of 5,492 homes up 22%, up 24% in dollar terms. ASP of $329K vs. $307K a year ago. Incentives of 23.1K per home, or 6.6% of home sales revenue vs. $20.6K and 6.3% a year ago.
    • Backlogs of 5,832 homes up 21%, up 22% in dollar terms.
    • Gross margins of 25.6% fell 120 basis points from a year ago. Operating margin of 16% down 90 bps.
    • Like KB Home earlier this week, Lennar (LEN -4%) warns of lower gross margins for fiscal 2015.
    • ITB -2.9%, XHB -2.2%
    • Toll Brothers (TOL -2.7%), Hovnanian (HOV -5.3%), D.R. Horton (DHI -4.9%), Ryland (RYL -4.7%), KB Home (KBH -5.5%), Pulte (PHM -4.3%) M.D.C. Holdings (MDC -5.9%), NVR (NVR -2.5%), Standard Pacific (SPF -3.2%)
    • Previously: Lennar beats by $0.11, misses on revenue (Jan. 15)
  • Apr. 24, 2013, 12:19 PM
    Meritage Homes (MTH +5.2%) moves higher today on a solid Q1 earnings beat this morning. The number of closed homes for the quarter jumped 17% as closing surged 39% and orders jumped 35%. What's really driving the stock right now is its forecast for FY13. The homebuilder's EPS forecast, based on a 40% increase in closings revenue the rest of the year, puts the midpoint of its profit estimate more than 15% above consensus views - which were already double that from 2012. It now expects to earn between $2.20 - 2.45, versus Street estimates of $2.04.
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  • Mar. 27, 2012, 8:19 AM
    More on Lennar (LEN): New orders +33% Y/Y to 3,022 homes. Operating margin improves 240 basis points to 6%. "We have been able to increase sales prices and have started to reduce sales incentives," says CEO Miller. Shares +3.8% premarket.
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  • Mar. 23, 2012, 8:32 AM
    It's too far too fast for KB Home (KBH), plummeting 15.5% premarket on an earnings miss after a 67% moonshot in the shares YTD. Q1 net orders of 1,197 were off 8% from 2011 Q1. Gross margin declined to 9.7% from 12.6% a year ago. Order backlogs represent $460M in sales against $353.6M this time last year.
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