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HomebuilderStocks.com Reports: Major Homebuilder Companies Report Record Quarterly Gains
For Immediate Release
Thursday, March 24, 2005
HomebuilderStocks.com Reports: Major Homebuilder Companies Report Record Quarterly Gains
US Department Of Commerce Report States That New Home Sales for February Increased By 9.4%
POINT ROBERTS, WA. Monday, March 28, 2005 - www.HomebuilderStocks.com, (HBS) a global investment news and research portal for the homebuilder sector, reports upon the release of a Commerce Department report, stating that new home sales for February increased by 9.4%. Both analysts and market participants remain firmly bullish in their forecasts for the coming year.
HBS does not make stock recommendations but offers a unique free information portal for investors to explore news, articles, and recent research. The site is currently compensated by featured company International Barrier Technology Inc. (IBTGF: OTCBB; IBH: TSXV).
US Department Of Commerce Report States That Home Sales for February Increased By 9.4%
HomebuilderStocks.com, Monday, March 28, 2005 -- According to a report released last Thursday by the US Department of Commerce, US based new home sales increased by 9.4% in February. This represents the greatest percentage increase for the homebuilder market in four years. February sales matched those of December and were slightly behind the record sales of October which amounted to 1.304 million.
The report continued to say that the median sales price of new homes for February was US$230,700, and the seasonally adjusted estimate for new houses for sale at the end of last month was 444,000. Despite the fact that Fed interest rate hikes seem likely to continue, at least in the short term, economists believe that rising incomes and appreciating home values will keep demand in this sector strong.
Once again, the major competitors in the sector reported record quarterly gains.
Toll Brothers (NYSE:TOL), the nation's leading builder of luxury homes, who have been setting weekly sales records nearly every week this quarter, reported record results for earnings, revenues, contracts and backlog for its first quarter ended January 31, 2005. First quarter 2005 earnings per share of $1.33 increased 115% over first quarter 2004. Speaking with HomebuilderStocks.com, Fred Cooper, Senior Vice President of Finance said, “We are seeing continued strong demand across our luxury home product lines, and we believe that with our significant land position in lot constrained markets we are positioned for continued growth.”
Lennar Corporation reported 39% increase in net earnings for first quarter 2005. The company reported first quarter revenues of US$2.4 billion, an increase of 29% over the same period last year. Lennar also reported an increase of 9% in the number of new orders received. This caused the company to raise their EPS goal from US$6.90 to US$7.15.
KB Home (NYSE: KBH) also reported record first quarter 2005 results. The company’s revenues grew by 21% to $1.64 billion, pushing their EPS up 61% to $2.82. KB Home raised its earnings estimate for 2005 to $15.75 per diluted share, up $1.25 from its previous estimate.
Sector growth and a bullish housing outlook were reported on in an original article by www.HomebuilderStocks.com at the beginning of January ("Homebuilder Stocks Finish Up A Record Breaking Year With Strong Projections For 2005." Click here for full article: http://www.homebuilderstocks.com/Companies/HomebuilderStocks/Articles/Homebuilder_Growth.asp).
Our current list of public companies in the sector includes: Toll Brothers (NYSE: TOL),
Beazer Homes USA, Inc., Ryland Group, Brookfield Homes, Centex, Inc., Home Depot, Homestore, Inc., KB Home (NYSE: KBH), Lennar Corporation, Lowe’s, Monterey Homes, Orleans Homebuilders, Inc., Pulte Homes and numerous others.
For the complete list, click here: http://www.homebuilderstocks.com/Companies/HomebuilderStocks/HomebuilderStockList.asp
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ECON is a privately owned corporate communications company specializing in: media relations, investor relations, and research on public companies and industry sectors, for the investment community. Nothing on our sites should be construed as an offer or solicitation to buy or sell any specific products or securities. All investments involve risk. Past performance does not guarantee future results, therefore investigate before you invest! Although we attempt to research thoroughly, we offer no guarantees as to the accuracy of any information presented. We encourage all investors to use our sites only as a resource to further their own research. The site is compensated by its "Featured Companies,” as outlined in our on-line disclaimer at www.InvestorIdeas.com/About/Disclaimer.asp. HomebuilderStocks.com/ECON is compensated by Featured Company IBH. (ECON is paid a fee of Eight thousand five hundred dollars per month, plus stock options of up to one hundred and ten thousand shares exercisable at eighty cents and currently has a remainder of twenty-five thousand dollars in options at twenty-five cents not exercised.)
SOURCE: ECON Investor Relations Inc., which owns the domain www.HomebuilderStocks.com.
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About the author:
HBS does not make stock recommendations but offers a unique free information portal for investors to explore news, articles, and recent research. The site is currently compensated by featured company International Barrier Technology Inc. (IBTGF: OTCBB; IBH: TSXV).
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