KB Home Q2 revenue $1.77B, EPS $1.94; net orders improve; FY guidance reaffirmed

KB HOME

2023-Q2 EPS reported $3.38 revenue$3,149,630,000

Revenue $1.77B (+3% YoY), diluted EPS $1.94 (down from $2.32 YoY).
Net orders 3,936 (+1% YoY), sequential improvement from -49% in Q1; cancellation rate 22% vs 17%.
Homebuilding operating income margin 11.5% (ex-charges 11.7%), down 380 bps; housing gross margin 21.1% (ex-charges 21.4%).
Repurchased 2.2M shares for $92M; book value per share $46.72 (+24% YoY).
FY 2023 guidance: housing revenue $5.8B-$6.2B, housing gross margin ~21.2%, avg community count up ~10%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KB HOME reported the six months ended May 31, 2023 results: revenue $3.15 billion, net income $289.9 million, EPS $3.38.

Period: the six months ended May 31, 2023
Revenue: $3.15 billion
Net income: $289.9 million
EPS: $3.38
Result: reported results

Exact text from the filing

Six Months Ended May 31, 2023 (comparisons on a year-over-year basis) • Homes delivered increased 2% to 6,454. • Average selling price of $486,000 was roughly flat. • Revenues of $3.15 billion were essentially even. • Net income decreased 16% to $289.9 million. • Diluted earnings per share was $3.38, down 11%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KB HOME reported the three months ended May 31, 2023 results: revenue $1.77 billion, net income $164.4 million, EPS $1.94.

Period: the three months ended May 31, 2023
Revenue: $1.77 billion
Net income: $164.4 million
EPS: $1.94
Result: reported results

Exact text from the filing

Relations Contact (310) 893-7456 or jpeters@kbhome.com Cara Kane, Media Contact (321) 299-6844 or ckane@kbhome.com KB HOME REPORTS 2023 SECOND QUARTER RESULTS Revenues Rose to $1.77 Billion; Diluted Earnings Per Share of $1.94 Net Orders Totaled 3,936; Average Community Count Up 20% Repurchased 2.2 Million Shares for $92 Million; Book Value Per Share Increased to

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Source: SEC EDGAR

accession 0000795266-23-000073

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