KB Home reported third-quarter fiscal 2026 housing revenues of $1.3 billion and diluted earnings per share of $1.05, with 2,732 homes delivered at an average selling price of $473,000. Housing revenues declined 20% from $1.6 billion a year earlier, reflecting a 19% decrease in homes delivered and a slightly lower average selling price, while net income fell to $65 million from $110 million. The company repurchased about 890,000 shares, roughly 1.5% of shares outstanding, and returned over $65 million in capital to shareholders including dividends, expanding book value per share to over $62. KB Home maintained its full-year guidance for deliveries of 10,500 to 11,000 homes and narrowed housing revenue guidance to $4.9 billion to $5.1 billion, but moderated fourth-quarter expectations, with the midpoint now implying an average selling price of approximately $480,000, about $20,000 below prior guidance, and a gross margin roughly 1 percentage point lower, driven principally by Southern California. The company plans up to $50 million of share repurchases in the fourth quarter.
KB HomeQ3 housing revenues fell 20% to $1.3B and net income dropped to $65M from $110M, with Q4 gross margin guidance cut ~1pt.
