KB Home Q2 Revenue Plunges 27% on Fewer Deliveries; EPS Halved
Summary
KB Home reported a 27% year-over-year decline in Q2 revenue to $1.11 billion, though it slightly beat analyst expectations. Diluted EPS dropped significantly to $0.43 from $1.50 a year ago, primarily due to a 23% decrease in homes delivered, lower selling prices, and higher land costs. The company repurchased $75 million of common stock during the quarter. Management projects sequentially higher delivery volumes and gross margins in the final two quarters, with Q3 deliveries expected to be between 2,600-2,800 homes and revenues of $1.20-$1.35 billion.
At the time of this announcement, KBH was trading at $53.86 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $44.03 to $68.71. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.