Earnings per share for the quarter were $0.52, falling short of the anticipated $0.55. This marks a decline from $1.49 per share a year earlier.
The company reported revenue of $1.08 billion, which was slightly below the analyst consensus of $1.1 billion. This reflects a decrease from $1.39 billion in the same quarter last year.
Homes delivered in the first quarter decreased by 14 percent to 2,370, with an average selling price of $452,100 compared to $500,700. The homebuilding operating income margin was 3.1 percent, down from 9.2 percent, influenced by a lower housing gross profit margin and higher selling, general, and administrative expenses.
The company projects second-quarter deliveries between 2,250 and 2,450 homes, with housing revenues ranging from $1.05 billion to $1.15 billion. The housing gross profit margin is expected to be between 15.0 percent and 15.6 percent, assuming no inventory-related charges.
For the full year 2026, KB Home anticipates deliveries between 10,000 and 11,500 homes, with housing revenues projected to range from $4.80 billion to $5.50 billion.
Jeffrey Mezger, Executive Chairman, said, “With solid traffic in our communities, we generated year-over-year net order growth in our first quarter. In addition, we are now achieving our targeted mix of Built to Order net orders.”
 reported first-quarter 2026 results with revenue and earnings below expectations. EPS was $0.52, missing the $0.55 estimate, and down from $1.49 a year earlier.){kind=link}