KB Home Earnings Recaps
Q1 2026
Mar 25, 2026
KB Home's first quarter results show resilience with a 3% increase in net orders, despite challenges in consumer demand and a cautious market outlook. The company is refocusing on its built-to-order strategy, projecting a stronger second half.
Key takeaways
- Revenues reached approximately $1.1 billion, with diluted EPS of $0.52, aligning with company guidance.
- Net orders grew year-over-year to 2,846 but fell short of maintaining previous delivery expectations, prompting a revision of annual guidance.
- A strategic return to a built-to-order model, expected to comprise 70% of deliveries in the latter half of the year, aims to enhance gross margins and operational predictability.
- Shareholder returns totaled nearly $70 million through repurchases and dividends, while book value per share increased to over $61.
- Healthy community traffic and the lowest cancellation rate in four years signal a strong buyer base, though affordability and market uncertainties persist.
Q4 2025
Dec 19, 2025
KB Home reported strong Q4 results, with revenues near $1.7 billion and adjusted diluted EPS of $1.92, reflecting resilience in the face of economic challenges and a disciplined approach to pricing.
Key takeaways
- Successfully helped nearly 13,000 families achieve homeownership in 2025, maintaining industry-leading customer satisfaction.
- Expanded financial flexibility with a new $1.2 billion revolving credit facility and returned over $600 million to shareholders, including a 13% share repurchase.
- Q4 net orders totaled 2,414, signaling stable demand despite ongoing economic pressures, with an 18% cancellation rate.
- Improved operational efficiency with average build times reduced by 20% year-over-year, achieving a target of 120 days for built-to-order homes.
- Sequential growth expected in community count, with plans to open 35-40 new communities in Q1 2026, positioning the company for a stronger spring selling season.