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KB Home (NYSE:KBH) reported third-quarter financial results after the market close on Wednesday. Here’s a look at the key metrics from the report.
Q3 Highlights: KB Home reported third-quarter revenue of $1.62 billion, beating analyst estimates of $1.59 billion, according to Benzinga Pro. The U.S Homebuilder reported third-quarter earnings of $1.61 per share, beating analyst estimates of $1.50 per share.
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KB Home delivered 3,393 homes in the quarter, down 7% on a year-over-year basis. The average selling price was “down slightly” to $475,700, while net orders declined 4% year-over-year to 2,950. Ending backlog value was $1.99 billion and inventories increased 6% to $5.84 billion.
KB Home said it repurchased $188.5 million of its common stock during the quarter. The company had $261.5 million remaining under its buyback program as of Aug. 31. KB Home ended the period with $330.6 million of total cash and cash equivalents.
“We achieved solid financial results in our third quarter, meeting or exceeding our guidance ranges across the key metrics for our business. Operationally, our execution was outstanding, as we continued to make meaningful progress in reducing both our build times and costs to build,” said Jeffrey Mezger, chairman and CEO of KB Home.
“As the quarter progressed, we were encouraged to see affordability improving, as mortgage interest rates began to ease.”
What’s Next: KB Home expects full-year 2025 housing revenue to be in the range of $6.1 billion to $6.2 billion, down from prior guidance of $6.3 billion to $6.5 billion. The company anticipates 2025 average selling prices of approximately $483,000.
“We expect to continue repurchasing our shares in our 2025 fourth quarter and 2026 fiscal year, as we remain committed to enhancing long-term stockholder value,” the company said.
KB Home said it will provide guidance for the fourth quarter on its earnings call, which is scheduled to begin at 5 p.m. ET.
KBH Price Action: KB Home shares were down 0.93% in after-hours Wednesday, trading at $61.80 at the time of publication, according to Benzinga Pro.
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Posted In: KBH
