While KB Home demonstrated strong financial management, improved build times, and customer satisfaction, the company faced significant market challenges, leading to a downward revision in guidance and lower net orders. The highlights and lowlights are relatively balanced.

Company Guidance

During the KB Home 2025 Second Quarter Earnings Conference Call, the company provided comprehensive guidance and results for the fiscal year 2025. Key financial metrics included total revenues of $1.5 billion, with a diluted earnings per share of $1.50. The company achieved a gross margin of 19.7%, exceeding guidance expectations, while SG&A expenses were at the lower end of the guided range at 10.7%, contributing to an operating income margin of 9%. The CEO, Jeff Mezger, highlighted a strategic shift towards optimizing asset management, aiming for an annual average absorption pace of 5 net orders per month per community in stronger markets, and 4 net orders in slower conditions. The company revised its revenue guidance for fiscal 2025 to between $6.3 billion and $6.5 billion, adjusting for softer market conditions and aiming for approximately 13,200 deliveries. Additionally, KB Home repurchased $200 million of shares in the second quarter and plans to repurchase between $100 million and $200 million in the third quarter, reflecting a commitment to return cash to shareholders amidst a challenging market environment.

Strong Financial Position and Shareholder Returns

KB Home maintained a healthy balance sheet and repurchased $200 million of shares in the second quarter, indicating robust financial flexibility and commitment to returning value to shareholders.

Improved Build Times

The company achieved faster build times, improving sequentially by 7 days and returning to pre-pandemic levels, which contributed to exceeding delivery expectations.

High Customer Satisfaction

KB Home received a record number of division-level customer satisfaction honors from AvidCX, reflecting strong customer service and satisfaction.

Reduction in Direct Costs

Direct costs were reduced by 3.2% year-over-year, contributing to better-than-expected financial performance in a challenging market environment.

Increased Book Value Per Share

The company increased its book value per share to nearly $59, a 10% year-over-year increase.

KB Home (KBH) Earnings, Revenues Date & History

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KBH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 17, 2025	2025 (Q3)	1.50 / -	2.04	―	―	―
Jun 23, 2025	2025 (Q2)	1.46 / 1.50	2.15	-30.23% (-0.65)
Mar 24, 2025	2025 (Q1)	1.57 / 1.49	1.76	-15.34% (-0.27)
Jan 13, 2025	2024 (Q4)	2.44 / 2.52	1.85	36.22% (+0.67)
Sep 24, 2024	2024 (Q3)	2.06 / 2.04	1.8	13.33% (+0.24)
Jun 18, 2024	2024 (Q2)	1.80 / 2.15	1.94	10.82% (+0.21)
Mar 20, 2024	2024 (Q1)	1.57 / 1.76	1.45	21.38% (+0.31)
Jan 10, 2024	2023 (Q4)	1.70 / 1.85	2.47	-25.10% (-0.62)
Sep 20, 2023	2023 (Q3)	1.43 / 1.80	2.86	-37.06% (-1.06)
Jun 21, 2023	2023 (Q2)	1.33 / 1.94	2.32	-16.38% (-0.38)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

KBH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 23, 2025	$53.09	$52.85	-0.45%
Mar 24, 2025	$61.24	$58.05	-5.21%
Jan 13, 2025	$63.27	$66.32	+4.82%
Sep 24, 2024	$86.05	$81.45	-5.35%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.