KB Home (NYSE:KBH) reported financial results for the second quarter after the market close on Tuesday. Here’s a rundown of the U.S. homebuilder’s report.
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KB Home Q2 Highlights
KB Home reported second-quarter revenue of $1.11 billion, beating analyst estimates of $1.10 billion, according to Benzinga Pro. The homebuilder reported second-quarter earnings of 43 cents per share, missing analyst estimates of 45 cents per share.
KB Home delivered 2,395 homes in the quarter, down 23% on a year-over-year basis. The average selling price declined approximately 5.5% year-over-year to $461,900. Net orders fell 4% year-over-year to 3,317. Ending backlog value was $2.14 billion and inventories increased slightly to $5.73 billion.
KB Home said it repurchased approximately $75 million of its common stock during the quarter. The company ended the period with $199.82 million of total cash and cash equivalents.
“We produced solid second-quarter results that met or exceeded the mid-point of our key guidance ranges,” said Jeffrey Mezger, executive chairman of KB Home.
“Our return to a predominantly Built to Order business model continued to gain momentum, with these homes representing 73% of our net orders in the quarter, progress that we believe supports stronger, more sustainable performance over time and across market cycles.”
KB Home expects $1.20 billion to $1.35 billion in housing revenue in the third quarter. The company also guided for full-year 2026 housing revenue of $4.90 billion to $5.30 billion.
KB Home executives will further discuss the quarter on an earnings call scheduled for 5 p.m. ET.
KBH Shares Rise After The Bell
KBH Price Action: KB Home shares were up 2.97% in after-hours Tuesday, trading at $54.31 at the time of publication, according to Benzinga Pro.
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