KB Home Stock Falls On Q4 Earnings: 'Housing Market Conditions Remained Challenging'

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

KB Home(NYSE:KBH) reported fourth-quarter financial results after the market close on Thursday. Here's a look at the key details from the U.S. homebuilder’s report.

Q4 Earnings: KB Home reported fourth-quarter revenue of $1.69 billion, beating analyst estimates of $1.66 billion, according to Benzinga Pro. The company reported fourth-quarter adjusted earnings of $1.92 per share, beating analyst estimates of $1.80 per share.

Don't Miss:

This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100.
Wall Street's $12B Real Estate Manager Is Opening Its Doors to Individual Investors — Without the Crowdfunding Middlemen

KB Home delivered 3,619 homes in the quarter, down 9% on a year-over-year basis. The average selling price declined 7% year-over-year to $465,600. Net orders fell 10% year-over-year to 2,414. Ending backlog value was $1.40 billion and inventories increased 3% to $5.67 billion.

KB Home said it repurchased approximately $100 million of its common stock during the quarter. The company ended the period with $228.6 million of total cash and cash equivalents.

“Although housing market conditions remained challenging due to lower consumer confidence, affordability concerns and elevated mortgage interest rates, we were pleased to help nearly 13,000 individuals and families achieve the dream of homeownership during the year, while maintaining our industry-leading customer satisfaction ratings,” said Jeffrey Mezger, chairman and CEO of KB Home.

See Also: Forget Flipping Houses—This Fund Lets You Invest in Home Equity Like Wall Street Does

Outlook: KB Home expects $1.05 billion to $1.15 billion in housing revenue in the first quarter. The company also guided for full-year 2026 housing revenue of $5.1 billion to $6.1 billion.

KB Home will further discuss the quarter on an earnings call scheduled for 5 p.m. ET.

Read Next: