On Thursday, KB Home (NYSE:KBH)’s shares inclined 1.04% to $14.60.
KB Home stated results for its third quarter ended August 31, 2015. Highlights and developments comprise the following:
Three Months Ended August 31, 2015
- The Company’s housing gross profit margin of 16.2% improved by 20 basis points from the second quarter of 2015 and reduced 260 basis points from 18.8% in the year-earlier quarter.
- The current quarter comprised housing inventory impairment and land option contract abandonment charges of $3.5 million, contrast to $1.0 million of land option contract abandonment charges in the corresponding quarter of 2014.
- Not Taking Into Account the amortization of formerly capitalized interest associated with housing operations and housing inventory impairment and land option contract abandonment charges in each period, the Company’s third quarter adjusted housing gross profit margin improved to 21.1%, up 80 basis points from the second quarter of 2015. On a year-over-year basis, the current quarter adjusted housing gross profit margin reduced 160 basis points from 22.7% for the year-earlier quarter.
- Selling, general and administrative expenses as a percentage of housing revenues improved 110 basis points to 11.9% contrast to the second quarter of 2015. This ratio also improved 50 basis points from 12.4% for the prior-year quarter.
- Interest expense reduced to $4.4 million from $6.5 million in the year-earlier quarter, as an improvement in interest incurred due to the Company’s higher average debt level was more than offset by an improvement in the amount of interest capitalized, reflecting a higher amount of inventory qualifying for interest capitalization in the current quarter.
KB Home is a homebuilding company that constructs and sells homes through its operating divisions under the name KB Home. The Company operates through five operating segments, which comprises four homebuilding segments and one financial services segment. The Company’s homebuilding operations are organized into four segments: West Coast, Southwest, Central and Southeast. The Company delivered about 7,215 homes through its four homebuilding segments.
Mondelez International Inc (NASDAQ:MDLZ)’s shares dropped -0.35% to $42.13.
The Mondelēz International Foundation launched three well-being programs aimed at bringing nutrition education, active play and fresh foods to children and their families in Mexico, South Africa and the United States. This is part of the company’s multi-year, $50 million commitment to promote healthy lifestyles and address obesity. These new programs bring global community partners together in an effort to create school environments that encourage children and families to adopt lifelong healthy habits.
According to a 2014 Lancet report, the United States and Mexico have the highest rates of obesity in the world; South Africa is not far behind with the highest rates of obesity and overweight in sub-Saharan Africa.
Over the next four years, the Foundation and its partners in Mexico, South Africa and the United States will inspire schools and communities to reach underserved kids and get involved in the following innovative ways:
- Mexico: Save the Children will improve nutrition and physical activity by promoting active play, nutrition education and gardening to about 20,000 children and families. Designed for children ages 2-13, the program will operate in early childhood development centers and primary schools. The Mondelēz International Foundation is recognized as one of Save the Children’s Global Corporate Partners.
- South Africa: INMED Partnerships for Children is adapting its award-winning program from Brazil to South Africa. INMED’s efforts, which comprise school-based gardens, have improved children’s body mass index (BMI) and vegetable consumption in Brazil. The program will now seek to reach 50,000-75,000 children, parents and community members across 100 schools in South Africa.
- United States: After-School All-Stars will expand its middle school program to offer nutrition education, cooking classes, urban vegetable gardens and will add BMI tracking to its program evaluation. This new effort is the Foundation’s first ever after-school program geared to middle school students. The program will reach children and families in more than 150 schools in 12 U.S. locations.
Mondelez International, Inc. is a snack food and beverage company. The Company manufactures and markets snack food and beverage products for consumers in about 165 countries around the world. The Company offers its brands in five product categories: biscuits (counting cookies, crackers and salted snacks); chocolate; gum and candy; beverages (counting coffee and powdered beverages), and cheese and grocery.
At the end of Thursday’s trade, Comcast Corporation (NASDAQ:CMCSA)‘s shares dipped -0.96% to $56.82.
Comcast Corporation declared that Carol Eggert has joined the company as Vice President, Military and Veteran Affairs. In this newly created role that was declared earlier this year, Ms. Eggert reports jointly to Dave Watson, Executive Vice President and Chief Operating Officer for Comcast Cable and Ian Trombley, President Operations and Technical Services, NBCUniversal. Ms. Eggert will work collaboratively across Comcast NBCUniversal to provide planned leadership to all aspects of programs and outreach engaging the military and veteran community, counting recruiting, hiring and building talent at all levels of the organization.
Comcast Corporation is a media and technology company. The Company has two primary businesses, Comcast Cable and NBCUniversal. The Company’s business line comprises five segments: Cable Communications; Cable Netoperates; Broadcast Television; Filmed Entertainment, and Theme Parks. Cable Communications comprises of the operations of Comcast Cable, a provider of video, high-speed Internet and voice services under the XFINITY brand. Cable Netoperates comprises primarily of its national cable netoperates, regional sports and news netoperates, international cable netoperates, and its cable television production operations.
Union Pacific Corporation (NYSE:UNP), ended its Thursday’s trading session with -0.99% loss, and closed at $84.83.
Union Pacific Corporation invites interested parties to listen to third quarter 2015 earnings release presentation that will be broadcast live over the Internet and via teleconference on Thursday, October 22, 2015, at 8:45 a.m. Eastern Time.
Union Pacific Corporation operates through its principal operating company, Union Pacific Railroad Company. The Company is a Class I railroad operating in the United States, which has 31,974 route miles and maintains coordinated plans with other rail carriers to move freight.
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