Financial Data and Key Metrics Changes - The company reported a 34% increase in housing revenues year-over-year, reaching $1.1 billion, driven by a 28% rise in homes delivered and a 5% increase in overall average selling price [19][20] - Homebuilding operating income rose 92% year-over-year to $60.2 million, with an operating margin improvement of 170 basis points to 5.6% [20][21] - Net income for the quarter increased by 99% year-over-year to $59.7 million, with diluted earnings per share more than doubling to $0.63 [21][22] - The leverage ratio improved to 41.7%, a 60 basis point improvement from the end of the previous fiscal year [23][24] Business Line Data and Key Metrics Changes - The backlog at the end of the first quarter increased to 5,821 homes valued at $2.1 billion, up 28% year-over-year [13] - The cancellation rate remained healthy at 17% quarter-to-date, indicating strong buyer commitment [12][21] - The company maintained a built-to-order model, which aligns production with demand and minimizes inventory risk [13][26] Market Data and Key Metrics Changes - The company experienced a 7% increase in net orders relative to the prior year for the first two weeks of March, but this turned to a cumulative 5% decline by the end of the month due to COVID-19 impacts [11][12] - Website visits increased nearly 50% in March, with conversions to sales leads up over 20% compared to the prior year [8][10] Company Strategy and Development Direction - The company is focused on maintaining a solid balance sheet and liquidity, with over $1.2 billion in liquidity and no goodwill on the balance sheet [10][24] - The strategy includes curtailing land acquisition and development in response to market uncertainties while continuing to engage with buyers in backlog [15][40] - The company emphasizes a built-to-order model to enhance flexibility and mitigate risks during market disruptions [26][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate through the current health crisis, citing a strong financial position and effective operational strategies [26][19] - The management team is closely monitoring market conditions and adapting strategies as necessary, with a focus on maintaining cash flow and managing costs [15][40] - There is an expectation of strong demand for homeownership post-crisis, as buyers seek safety and security in their living situations [57][58] Other Important Information - The company has shifted to virtual sales tools and appointment-only visits to ensure safety during the pandemic [7][8] - The management team highlighted the importance of maintaining relationships with land sellers and developers to manage business effectively during disruptions [15][40] Q&A Session Summary Question: Can you discuss the backlog and delivery plans? - Management indicated that the backlog typically represents a 5 to 5.5 months' supply of deliveries and that they are actively working to complete homes and facilitate closings [30][31] Question: How is the mortgage market affecting closings? - Management reported that they are currently able to close homes without issues, despite some changes in the mortgage market [34] Question: How are you managing land spend during this time? - The company is pulling back on land investments and focusing on maintaining flexibility in commitments while monitoring market conditions [40][41] Question: What is the approach to pricing in the current environment? - Management stated that they do not see an urgency to adjust pricing at this time, as demand remains stable and they have a solid backlog [54][55] Question: How are you addressing potential buyer cancellations due to unemployment? - Management is proactively reaching out to buyers in backlog to understand their situations and maintain engagement [78][79]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended November 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No. 001-09195 KB HOME (Exact name of registrant as spec ...

KB Home (NYSE:KBH) Q4 2019 Earnings Conference Call January 9, 2020 5:00 PM ET Company Participants Jill Peters - SVP, IR Jeff Mezger - Chairman, President and Chief Executive Officer Matt Mandino - Executive Vice President and Chief Operating Officer Jeff Kaminski - Executive Vice President and Chief Financial Officer Bill Hollinger - SVP and Chief Accounting Officer Thad Johnson - SVP and Treasurer Conference Call Participants Alan Ratner - Zelman & Associates Truman Patterson - Wells Fargo Stephen Kim - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock (par value $1.00 per share) KBH New York Stock Exchange Rights to Purchase Series A Participating Cumulative Preferred Stock New York Stock Exchange Large Accelerated Filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURIT ...

Financial Data and Key Metrics Changes - The company generated total revenues of $1.2 billion and diluted earnings per share of $0.73 in Q3 2019, with a gross margin of 18.9% excluding inventory-related charges [7][19][23] - The return on equity is expected to accelerate from 6.3% in 2016 to over 12% in 2019, with diluted earnings per share projected to increase by more than 150% relative to 2016 [6][18] - The company reduced its debt to capital ratio by 550 basis points over the past year, achieving the high end of its tightened target range [7][28] Business Line Data and Key Metrics Changes - The company opened 26 new communities during the quarter, boosting the average community count by 18% year-over-year [8][25] - Monthly net orders advanced to 4.3 per community, resulting in a 24% growth in net orders and a 25% increase in net order value to $1.3 billion [9][20] - Deliveries to first-time buyers accounted for 55% of total deliveries, reflecting the company's focus on this segment [10][11] Market Data and Key Metrics Changes - Market conditions remain favorable, supported by low mortgage interest rates, steady economic growth, and high consumer confidence [8] - The West Coast region saw a 32% growth in net orders, with the Southwest region delivering the highest net order increase of 40% [13][14] - Demand in Phoenix exceeded 60% net order growth, driven by strong economic conditions and lower cost of living [15] Company Strategy and Development Direction - The company aims to profitably grow its business through consistent implementation of its core business strategy while strengthening its balance sheet [5][12] - The focus remains on expanding community count and targeting median household income segments, particularly first-time buyers [10][12] - The company is committed to advancing market share and reducing build times through local scale benefits [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong finish to 2019, anticipating meaningful year-over-year increases in key financial metrics [17][18] - The backlog value of $2.3 billion and community count growth position the company to deliver over $5 billion in revenues next year [18][27] - Management noted that the principles of the Returns-Focused Growth Plan will continue beyond 2019, focusing on profitable growth and higher returns [17][28] Other Important Information - The company invested $442 million in land, land development, and fees during Q3, with $174 million representing new land acquisitions [26] - The effective tax rate for the quarter was approximately 26%, with a projected rate of 28% for Q4 [25] Q&A Session Summary Question: Update on pricing and strength of price hikes by product segments - Management noted that pricing strength varies by community and that they are balancing price and pace while achieving target absorption [31][32] Question: Insights on California's order growth and pipeline for 2020 - Management confirmed strong community count growth in California, particularly in the Bay Area, and expressed confidence in maintaining a solid pipeline for 2020 [34][66] Question: Comments on cycle times and labor market pressures - Management acknowledged potential labor tightness due to stronger demand but emphasized their strategy to leverage scale to manage build times [38] Question: Expectations for margins in 2020 - Management anticipates incremental improvements in both gross margin and SG&A, leading to stronger operating margins [45][46] Question: Performance of the mortgage banking joint venture - Management reported a capture rate of 72% for the mortgage banking joint venture, indicating strong performance and expectations for growth [16][48] Question: Observations on industry incentives and competitor activity - Management observed that incentives were lessening as inventory pressures eased, leading to a more rational pricing environment [84]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended May 31, 2019. or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from [ ] to [ ]. Commission File No. 001-09195 KB HOME (Exact name of registrant as specified in its charter) Delaware 95-3666267 (State of incorporation) (IRS employer iden ...

KB Home (NYSE:KBH) Q2 2019 Earnings Conference Call June 26, 2019 5:00 PM ET Company Participants Jill Peters - Senior Vice President, Investor Relations Jeff Mezger - Chairman, President & Chief Executive Officer Jeff Kaminski - Executive Vice Pressident & Chief Financial Officer Conference Call Participants Alan Ratner - Zelman & Associates Truman Patterson - Wells Fargo Nishu Sood - Deutsche Bank Christina Chiu - Barclays Stephen Kim - Evercore ISI Mike Dahl - RBC Capital Markets John Lovallo - Bank of A ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended February 28, 2019. or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from [ ] to [ ]. Commission File No. 001-09195 KB HOME (Exact name of registrant as specified in its charter) Delaware 95-3666267 (State of incorporation) (IRS employer ...

KB Home (NYSE:KBH) Q1 2019 Earnings Conference Call March 26, 2019 5:00 PM ET Company Participants Jill Peters - Senior Vice President, Investor Relations Jeff Mezger - Chairman, President, and Chief Executive Officer Jeff Kaminski - Executive Vice President and Chief Financial Officer Conference Call Participants Stephen East - Wells Fargo Securities Alan Ratner - Zelman & Associates Timothy Daley - Deutsche Bank Stephen Kim - Evercore ISI Mike Dahl - RBC Capital Markets Jack Micenko - SIG John Lovallo - B ...

Financial Performance and Goals - The company aims for housing revenues greater than $5.0 billion in 2019[24] - The target for homebuilding operating income margin, excluding inventory-related charges, is set at 8.0% to 9.0%[24] - The company has implemented a Returns-Focused Growth Plan aimed at improving return on invested capital to exceed 10.0%[24] Land and Inventory Management - The company reported a decrease in land held for future development from 11% in 2017 to 7% in 2018, with a goal to reduce it to less than 4% by the end of 2019[21] - As of November 30, 2018, the total inventory lots owned or controlled by the company increased to 53,627, up from 46,371 in 2017, representing a growth of approximately 15.5%[40] - The company focuses on acquiring entitled land parcels in metropolitan areas with a potential for at least 800 homes delivered per year[16] Customer Engagement and Satisfaction - Approximately 75% of annual deliveries have been to first-time and first move-up homebuyers, with 74% in 2018[28] - The Built-to-Order™ homebuying process enhances customer satisfaction by allowing personalized design choices[15] Operational Efficiency - The company plans to continue improving asset efficiency by calibrating home sales rates and controlling direct construction costs[20] - The operational structure allows division management teams considerable autonomy to identify land acquisition opportunities and develop communities[32] - The company’s construction cycle time from home sale to delivery is typically five to six months, indicating a streamlined operational process[42] Employee Growth - The company employed approximately 2,005 full-time employees as of December 31, 2018, an increase from 1,915 in 2017, reflecting growth in operational capacity[47] Sustainability and Innovation - The company built its 115,000th ENERGY STAR® certified home in 2018, showcasing its commitment to sustainability and energy efficiency[54] - The company has implemented advanced home automation technologies in partnership with Google®, enhancing the smart home experience for buyers[54] - In 2018, the company received the ENERGY STAR Partner of the Year — Sustained Excellence Award for the eighth consecutive year, highlighting its leadership in energy efficiency[55] Market Conditions and Challenges - The company expects upward cost trends for land and raw materials to continue in 2019 due to increased competition and market activity[48] - The geographic mix of markets significantly affects the company's results, with variations in homebuyer preferences and local demographics impacting sales[50] - The company has established national and regional purchasing programs to benefit from bulk purchase discounts, although it has faced higher prices for certain raw materials in recent years[44] Debt and Financial Obligations - The company has long-term fixed rate debt obligations totaling $2,030,000 as of November 30, 2018, with a fair value of $2,082,863[305] - The weighted average effective interest rate for the company's long-term fixed rate debt is 6.6%[305] - The company does not use interest rate derivative instruments to manage exposure to changes in interest rates[304] - The company is subject to interest rate risk on its senior notes, which may affect the fair value of the debt instruments[304] - The company’s debt obligations primarily support general corporate purposes, including subsidiary operations[304] Investor Relations - The company intends to provide annual and quarterly reports free of charge through its investor relations website[58] - The company’s investor relations website serves as the primary location for financial and operational performance announcements[58] - The company has not disclosed any significant joint venture activities that would constitute a significant subsidiary[307]