Shares of KB Home rose 3% late Wednesday after the homebuilder reported fourth-quarter earnings above Wall Street forecasts and said it expects “solid demand for housing” this year. KB Home earned $84.3 million, or 84 cents a share, in the quarter, compared with $37.5 million, or 40 cents a share, in the year-ago period. Revenue rose 18% to $1.40 billion, compared with $1.19 billion a year ago. Analysts polled by FactSet had expected per-share earnings of 77 cents on sales of $1.35 billion. The company pinned its optimism for housing demand in 2018 on “healthy employment, rising household incomes and strong consumer confidence, and continued limited supply,” Chief Executive Jeffrey Mezger said in a statement. Shares ended the regular session up 0.4%.
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