Stock Track | KB Home Plunges 9.26% Pre-Market on Q1 Earnings Miss and Lowered 2025 Guidance

Stock Track03-25

Shares of KB Home (KBH) tumbled 9.26% in pre-market trading on Tuesday following the release of disappointing first-quarter earnings and reduced full-year guidance. The homebuilder's performance reflects challenges in the housing market, including affordability concerns and economic uncertainties.

KB Home reported earnings per share of $1.49 for the quarter ended February 28, falling short of analysts' expectations of $1.57. Revenue came in at $1.39 billion, missing estimates of $1.5 billion. The company delivered 2,770 homes in the quarter, down 9% year-over-year, while net orders declined 17% to 2,772.

CEO Jeffrey Mezger cited a muted start to the spring selling season, stating, "Consumers are working through affordability concerns and uncertainties related to macroeconomic and geopolitical issues, which are causing them to move slowly in their homebuying decisions." In response to softer demand, KB Home has taken steps to reposition its communities and offer more compelling value to potential buyers. The company also lowered its fiscal 2025 housing revenue guidance to $6.6-$7.0 billion, down from the previous forecast of $7.0-$7.5 billion, primarily due to lower net orders in the first quarter.

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