KB Home Optimistic On Spring Selling Season As Net Orders Jump

KB Home shares rose about 3% in premarket trade Wednesday, after the company said preliminary new orders are up 25% in the quarter so far. The homebuilder said net order value is up 26% to $519.2 million in the period. KB has opened 19 new communities through Feb. 5. "Based on our expanding community count and the strength of our recent net order results, we are optimistic about the spring selling season," Chief Executive Jeffrey Mezger said in a statement. "We believe the momentum of these favorable trends, in combination with our solid backlog, support a positive revenue outlook for the remainder of the year, particularly in the third and fourth quarters." Shares are down 20.3% in the last three months, while the S&P 500 has gained 1.4%.