KB Home(US:KBH)2025-06-23 20:18Financial Performance - Revenues for Q2 2025 totaled $1.53 billion, down from $1.71 billion year-over-year[4] - Net income decreased by 36% to $107.9 million, with diluted earnings per share declining 30% to $1.50[8] - Total revenues for the three months ended May 31, 2025, were $1,529,585, a decrease of 10.5% compared to $1,709,813 for the same period in 2024[17] - Net income for the three months ended May 31, 2025, was $107,883, representing a decline of 35.8% from $168,419 in 2024[17] - Homebuilding revenues for the six months ended May 31, 2025, were $2,911,757, down 7.8% from $3,159,638 in 2024[21] - Total pretax income for the six months ended May 31, 2025, was $281,740, down 28.8% from $395,784 in 2024[17] - Financial services pretax income for the six months ended May 31, 2025, was $15,687, a decrease of 36.9% from $24,840 in 2024[17] Home Delivery and Orders - Homes delivered decreased by 11% to 3,120 units compared to the previous year[4] - Homes delivered in the three months ended May 31, 2025, totaled 3,120, a decrease of 11.4% from 3,523 in the same period of 2024[23] - Net orders decreased by 13% to 3,460, with an ending backlog of 4,776 homes, down 27% year-over-year[8] - The backlog of homes as of May 31, 2025, was 4,776 homes valued at $2,288,231, down from 6,270 homes valued at $3,122,135 in 2024[23] Pricing and Margins - Average selling price increased slightly to $488,700, reflecting a 3% increase year-over-year[4] - The average selling price for homes in the three months ended May 31, 2025, was $488,700, an increase of 1.4% from $483,000 in 2024[21] - Homebuilding operating income was $131.5 million, with an operating income margin of 8.6%, down from 11.1%[4] - The adjusted housing gross profit margin for the three months ended May 31, 2025, was 19.7%, compared to 21.2% in 2024[25] Liquidity and Financial Position - Total liquidity stood at $1.19 billion, including $308.9 million in cash and cash equivalents[8] - Total assets as of May 31, 2025, were $7,017,596, an increase from $6,936,169 as of November 30, 2024[19] Stock and Guidance - The company repurchased $200 million of common stock at an average price of approximately $54 per share[3] - Guidance for full-year 2025 projects housing revenues between $6.30 billion and $6.50 billion[13] Taxation - The effective tax rate for the quarter was approximately 24.2%, compared to 23.8% in the previous year[8]