KB Home reported Q1 EPS $0.52, missing $0.55 estimate, and revenue $1.08 bn, down 23% YoY.
Housing gross profit margin fell to 15.5% from 20.3% and operating income margin dropped to 3.1% from 9.2% YoY.
Delivered 2,370 homes at $452,100 average price, below last year’s $500,700, and repurchased $50 million of stock.
Q2 outlook projects $1.05‑$1.15 bn revenue, 2,250‑2,450 deliveries, 15.0‑15.6% gross margin; full‑year revenue $4.80‑$5.50 bn, 10‑11,500 homes.