KB Home Stock Sinks After Q1 Revenues Fall 23%

KB Home (NYSE:KBH) shares dropped in Tuesday's extended trading after the company released its first-quarter earnings report, missing analyst expectations on the top and bottom lines. KBH stock is moving. Watch the price action here. Q1 Details KB Home reported quarterly earnings of 52 cents per share, which missed the analyst consensus estimate of 58 cents. Quarterly revenue came in at $1.08 billion, which missed the Street estimate of $1.1 billion and was down from $1.39 billion in the same period last year. KB Home listed the following metrics, compared to the same quarter last year: Revenues were down 23% to $1.08 billion. Homes delivered decreased 14% to 2,370. Average selling price was $452,100, compared to $500,700. Homebuilding operating income was $33 million, compared to $127.3 million. The homebuilding operating income margin was 3.1%, compared to 9.2%. “With solid traffic in our communities, we generated year-over-year net order growth in our first quarter,” said Jeffrey Mezger, executive chairman of KB Home. “In addition, we are now achieving our targeted mix of Built to Order net orders.” Outlook KB Home expects second quarter deliveries in the range of 2,250 to 2,450 homes, housing revenues in the range of $1.05 billion to $1.15 billion and housing gross profit margin in the range of 15% to 15.6%. For the full year 2026, KB Home expects deliveries in the range of 10,000 to 11,500 homes and housing revenues in the range of $4.80 billion to $5.50 billion. KBH Stock Price: According to data from Benzinga Pro, KB Home stock slid 4.80% to $50.40 in Tuesday's extended trading. Photo: Shutterstock