Market Updates
U.S. Movers: KB Home
Scott Peters
24 Jun, 2025
New York City
KB Home declined 1.1% to $52.75 after the homebuilder reported weak results for the fiscal second quarter ending on May 31.
Revenue edged down to $1.53 billion from $1.71 billion, net income fell to $107.88 million from $168.42 million, and diluted earnings per share eased to $1.50 from $2.15 a year ago.
During the quarter, the company delivered 3,120 homes, an increase of 11% from a year earlier, and the average selling price increased slightly to $488,700.
Net orders decreased 13% to 3,460; the company’s backlog totaled 4,776 homes, compared to 6,270 homes a year earlier; and the ending backlog value was down 27% to $2.29 billion.
The company guided full-year housing revenue to be between $6.30 billion and $6.50 billion, compared to $6.93 billion, and the average selling price between $480,000 and $490,000, compared to $486,900 a year ago, respectively.
The company had previously guided fiscal year revenue between $6.6 billion and $7.0 billion.
In the second quarter, the homebuilder repurchased its own stock worth $200 million, and as of May 31, the company had $450 million remaining under its stock repurchase authorization.
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