KB Home — Jun 23, 2025 release

In our second quarter, we repurchased $200 million of our outstanding common stock at an average price of approximately $54 per share, which is below our current book value, providing an excellent return on our capital. We expect to continue to repurchase our shares in the remainder of fiscal 2025 aligned with our commitment to enhancing long-term stockholder value,” concluded Mezger. Three Months Ended May 31, 2025 (comparisons on a year-over-year basis) • Revenues totaled $1.53 billion, compared to $1.71 billion. • Homes delivered decreased 11% to 3,120. • Average selling price increased slightly to $488,700. • Homebuilding operating income was $131.5 million, compared to $188.2 million. The homebuilding operating income margin was 8.6%, compared to 11.1%, reflecting a lower housing gross profit margin and higher selling, general and administrative expenses ratio. Excluding total inventory-related charges of $5.6 million for the current quarter and $1.2 million for the year-earlier quarter, the homebuilding operating income margin was 9.0%, compared to 11.1%. ◦ The Company’s housing gross profit margin was 19.3%, compared to 21.1%. Excluding the above-mentioned inventory-related charges, the housing gross profit margin was 19.7%, compared to 21.2%, due to price reductions and other homebuyer concessions, higher relative land costs, geographic mix, and reduced operating leverage, partly offset by lower construction costs. ◦ Selling, general