NYSE$KBH
KB Home · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
KB Home reported strong financial results for Q3 2023, exceeding guidance ranges with increased deliveries and compressed build times.
KB Home reported Q3 2023 revenues of $1.59 billion and diluted earnings per share of $1.80. Net orders increased by 52% to 3,097. The company is increasing its investment in land acquisition to grow community count in 2024 and beyond.
- Revenues totaled $1.59 billion, compared to $1.84 billion in the prior year.
- Diluted earnings per share were $1.80, compared to $2.86 in the prior year.
- Net orders increased 52% to 3,097.
- The company repurchased 1.5 million shares for $82.5 million.
Headline financials
Revenue & EPS history
KB Home · Revenue · Quarterly
$1.59B
Revenue by segment
KB Home · $1.39B total across 1 segment · Q1 2022
- Housing$1.39B+22.6%100.0%
Forward guidance
The Company is providing the following guidance for its 2023 full year:
Tailwinds
- Housing revenues of approximately $6.31 billion.
- Average selling price of approximately $481,000.
- Homebuilding operating income as a percentage of revenues of about 11.3%, assuming no inventory-related charges.
- Housing gross profit margin of approximately 21.3%, assuming no inventory-related charges.
- Selling, general and administrative expenses as a percentage of housing revenues anticipated to be roughly 10.0%.
Headwinds
- Effective tax rate of approximately 23%.
- Average community count up about 9% year over year, with ending community count of approximately 230.
- General economic, employment and business conditions
- Conditions in the capital, credit and financial markets
- Material and trade costs and availability, including building materials and appliances, and delays related to state and municipal construction, permitting, inspection and utility processes, which have been disrupted by key equipment shortages
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q3 2023
+0.3%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+2.2%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+17.2%
Q4 2021
Best reaction
-18.3%
Q4 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -0.8% | +6.5% | — | |
| Q4 2025 | -8.7% | -8.5% | -2.3% | |
| Q3 2025 | -0.1% | +2.0% | +1.0% | |
| Q2 2025 | +2.3% | +1.1% | +17.2% | |
| Q1 2025 | -5.2% | -6.6% | -12.2% | |
| Q4 2024 | +6.3% | +7.4% | +1.2% | |
| Q3 2024 | -6.2% | -2.6% | -10.8% | |
| Q2 2024 | +0.7% | +1.5% | +14.9% | |
| Q1 2024 | +0.6% | +0.2% | -10.6% | |
| Q4 2023 | -0.2% | -3.1% | -2.6% | |
| Q3 2023 | -5.0% | -4.3% | -12.6% | |
| Q2 2023 | +1.0% | +0.2% | +3.1% | |
| Q1 2023 | +8.0% | +9.4% | +13.8% | |
| Q4 2022 | +0.2% | +0.7% | +7.2% | |
| Q3 2022 | -7.2% | -9.2% | -4.6% | |
| Q2 2022 | +11.2% | +14.4% | +26.6% | |
| Q1 2022 | -9.0% | -10.5% | -14.4% | |
| Q4 2021 | +17.2% | +16.3% | -8.5% | |
| Q3 2021 | +1.3% | +2.1% | +1.2% | |
| Q2 2021 | -6.4% | -6.1% | -4.0% | |
| Q1 2021 | +2.4% | +3.6% | +10.3% | |
| Q4 2020 | +3.9% | +6.1% | +32.6% | |
| Q3 2020 | -3.8% | -6.5% | -6.1% | |
| Q2 2020 | -13.8% | -12.1% | -2.5% | |
| Q1 2020 | -7.8% | -7.0% | +13.9% | |
| Q4 2019 | -3.1% | -2.4% | +3.0% | |
| Q3 2019 | +4.1% | +8.1% | +16.3% | |
| Q2 2019 | +6.6% | +8.9% | +12.6% | |
| Q1 2019 | +3.6% | +1.3% | +7.1% | |
| Q4 2018 | -0.6% | -2.7% | +1.7% | |
| Q3 2018 | -4.0% | -6.3% | -22.5% | |
| Q2 2018 | +9.1% | +6.0% | -5.5% | |
| Q1 2018 | -0.7% | -5.4% | -11.5% | |
| Q4 2017 | +12.8% | +8.1% | -14.0% | |
| Q3 2017 | +11.6% | +14.1% | +25.2% | |
| Q2 2017 | +5.6% | +5.2% | +1.6% | |
| Q1 2017 | +2.6% | +3.7% | +6.9% | |
| Q4 2016 | +2.5% | +0.0% | +1.8% | |
| Q3 2016 | -0.5% | +2.6% | -1.2% | |
| Q2 2016 | +2.6% | +2.3% | +13.3% | |
| Q1 2016 | +2.3% | — | — | |
| Q4 2015 | -14.5% | — | — | |
| Q3 2015 | +0.5% | — | — | |
| Q2 2015 | +11.4% | — | — | |
| Q1 2015 | +6.5% | — | — | |
| Q4 2014 | -18.3% | — | — | |
| Q3 2014 | -8.2% | — | — | |
| Q2 2014 | +4.5% | — | — | |
| Q1 2014 | +3.0% | — | — | |
| Q4 2013 | -3.6% | — | — | |
| Q3 2013 | +6.3% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | +0.9% | — | — | |
| Q4 2012 | -9.0% | — | — | |
| Q3 2012 | +11.6% | — | — | |
| Q2 2012 | +11.1% | — | — | |
| Q1 2012 | -14.4% | — | — | |
| Q4 2011 | -8.4% | — | — | |
| Q3 2011 | +4.9% | — | — | |
| Q2 2011 | +0.6% | — | — | |
| Q1 2011 | -2.3% | — | — | |
| Q4 2010 | +1.5% | — | — | |
| Q3 2010 | -0.2% | — | — | |
| Q2 2010 | -1.1% | — | — | |
| Q1 2009 | +1.3% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro