KBH

EX-99.1

2 exh991kbh-earningsrelease0.htm

EX-99.1

Document

Exhibit 99.1

FOR RELEASE, Tuesday, June 23, 2026 For Further Information:

1:10 p.m. Pacific Time  Jill Peters, Investor Relations Contact

(310) 893-7456 or jpeters@kbhome.com

Cara Kane, Media Contact

(321) 299-6844 or ckane@kbhome.com

KB HOME REPORTS 2026 SECOND QUARTER RESULTS

Revenues of $1.11 Billion; Diluted Earnings Per Share of $.43

Repurchased $75.0 Million of Common Stock

LOS ANGELES (June 23, 2026) — KB Home (NYSE: KBH) today reported results for its second quarter ended May 31, 2026.

“We produced solid second-quarter results that met or exceeded the mid-point of our key guidance ranges,” said Jeffrey Mezger, Executive Chairman. “Our return to a predominantly Built to Order business model continued to gain momentum, with these homes representing 73% of our net orders in the quarter, progress that we believe supports stronger, more sustainable performance over time and across market cycles.”

“Operationally, our teams continued to execute well and generated meaningful results, achieving 35 new community openings, at the high end of our projection, and reducing our build times by more than a full week sequentially from home start to home completion,” said Robert McGibney, President and Chief Executive Officer. “At the same time, we remained disciplined as we continued to successfully navigate a difficult and fluid market environment, balancing pace and price while tightly managing costs.”

“The progress in our second quarter sets the foundation for the remainder of fiscal 2026, with sequentially higher delivery volumes and gross margins projected for each of the final two quarters. We remain committed to increasing shareholder value through improved performance, as well as our continued focus on operational excellence, strong financial flexibility and ongoing balanced approach to capital allocation,” concluded Mezger.

Three Months Ended May 31, 2026 (comparisons on a year-over-year basis)

•Revenues were down 27% to $1.11 billion.

•Homes delivered decreased 23% to 2,395.

•Average selling price was $461,900, compared to $488,700.

•Homebuilding operating income was $28.2 million, compared to $131.5 million. The homebuilding operating income margin was 2.5%, compared to 8.6%, due to a lower housing gross profit margin and higher selling, general and administrative expense ratio. Excluding inventory-related charges of $5.6 million for both the current quarter and the year-earlier quarter, homebuilding operating income was 3.0%, compared to 9.0%.

◦The housing gross profit margin was 15.2%, compared to 19.3%. Excluding the above-mentioned inventory-related charges, the housing gross profit margin was 15.7%, compared to 19.7%, primarily reflecting price reductions, higher relative land costs and reduced operating leverage.

◦Selling, general and administrative expenses were 12.7% of housing revenues, compared to 10.7%, mainly due to a decrease in operating leverage.

•Financial services pretax income totaled $6.7 million, compared to $8.2 million, primarily due to lower equity in income from the Company’s mortgage banking joint venture. The joint venture’s results mainly reflected reduced loan origination volume driven by fewer homes delivered.

•Net income was $27.3 million, compared to $107.9 million. Diluted earnings per share was $.43, compared to $1.50, reflecting current quarter net income, partly offset by the favorable impact of the Company’s common stock repurchases.

◦The effective tax rate was 26.6%, compared to 24.2%.

Six Months Ended May 31, 2026 (comparisons on a year-over-year basis)

•Revenues totaled $2.19 billion, compared to $2.92 billion.

•Homes delivered of 4,765 were down 19%.

•Average selling price decreased 8% to $457,000.

•Net income was $60.8 million, compared to $217.4 million.

•Diluted earnings per share was $.96, compared to $3.00.

Net Orders and Backlog (comparisons on a year-over-year basis)

•Net orders of 3,317 declined 4%. The Company’s ending backlog was down 5% to 4,526 homes, and backlog value decreased 7% to $2.14 billion.

◦Monthly net orders per community were 4.0, compared to 4.5.

◦The cancellation rate as a percentage of gross orders was 12%, compared to 16%.

•The average community count for the quarter grew 9% to 278, and the ending community count was up 11% to 280.

Balance Sheet as of May 31, 2026 (comparisons to November 30, 2025)

•The Company had total liquidity of $1.12 billion, including $199.8 million of cash and cash equivalents and $923.4 million of available capacity under its unsecured revolving credit facility (“Credit Facility”), with $275.0 million of cash borrowings outstanding.

•Inventories increased slightly to $5.73 billion.

◦Investments in land and land development for the quarter decreased 4% to $495.8 million, compared to $513.9 million for the prior-year quarter. For the six months ended May 31, 2026, total land-related investments decreased 26% to

EX-99.1

2 exh991kbh-earningsrelease0.htm

EX-99.1

Document

Exhibit 99.1

FOR RELEASE, Tuesday, March 24, 2026 For Further Information:

1:10 p.m. Pacific Time  Jill Peters, Investor Relations Contact

(310) 893-7456 or jpeters@kbhome.com

Cara Kane, Media Contact

(321) 299-6844 or ckane@kbhome.com

KB HOME REPORTS 2026 FIRST QUARTER RESULTS

Revenues of $1.08 Billion; Diluted Earnings Per Share of $.52

Repurchased $50.0 Million of Common Stock

LOS ANGELES (March 24, 2026) — KB Home (NYSE: KBH) today reported results for its first quarter ended February 28, 2026.

“With solid traffic in our communities, we generated year-over-year net order growth in our first quarter,” said Jeffrey Mezger, Executive Chairman. “In addition, we are now achieving our targeted mix of Built to Order net orders. Our renewed focus on our core Built to Order strategy, combined with an anticipated favorable regional mix of homes delivered, as well as operating leverage from higher delivery volumes, is expected to contribute to stronger financial results in the second half of fiscal 2026.”

“Our teams continued to execute well, particularly in the critical areas of new community openings and build times. We expect to reach our peak community count for the year within the second quarter at the height of the Spring selling season, which enhances our ability to drive net orders,” said Robert McGibney, President and Chief Executive Officer. “At the same time, our ongoing success in reducing build times enables us to convert our backlog to deliveries more quickly than we have in many years.”

“Concerns surrounding the conflict in the Middle East have introduced an additional layer of uncertainty for consumers who were already working through numerous challenges. Still, we believe we are well positioned to navigate the current environment, with the distinct personalized homebuilding experience we offer, strong financial flexibility, and a disciplined, balanced approach to capital allocation,” concluded Mezger.

Three Months Ended February 28, 2026 (comparisons on a year-over-year basis)

•Revenues were down 23% to $1.08 billion.

•Homes delivered decreased 14% to 2,370.

•Average selling price was $452,100, compared to $500,700.

•Homebuilding operating income was $33.0 million, compared to $127.3 million. The homebuilding operating income margin was 3.1%, compared to 9.2%, due to a lower housing gross profit margin and higher selling, general and administrative expense ratio. Inventory-related charges totaled $2.2 million for the current quarter and $1.5 million for the year-earlier quarter.

◦The housing gross profit margin was 15.3%, compared to 20.2%. Excluding the above-mentioned inventory-related charges, the housing gross profit margin was 15.5%, compared to 20.3%, primarily reflecting price reductions, higher relative land costs, product and geographic mix, and reduced operating leverage.

◦Selling, general and administrative expenses, which included $8.0 million of insurance recoveries in the current quarter, were 12.2% of housing revenues, compared to 11.0%. The year-over-year increase was mainly due to a decrease in operating leverage, partly offset by the favorable impact of the insurance recoveries.

•Financial services pretax income totaled $5.5 million, compared to $7.5 million, mostly due to lower equity in income from the Company’s mortgage banking joint venture, partially offset by higher insurance commission revenues. The mortgage banking joint venture’s results primarily reflected a lower volume of loan originations, largely resulting from fewer homes delivered.

•Net income was $33.4 million, compared to $109.6 million. Diluted earnings per share was $.52, compared to $1.49, reflecting current quarter net income, partly offset by the favorable impact of the Company’s common stock repurchases.

◦The effective tax rate was 17.1%, compared to 21.4%, mainly due to the higher relative impact of excess tax benefits from stock-based compensation resulting from the lower pretax income for the current period.

Net Orders and Backlog (comparisons on a year-over-year basis, except as noted)

•Net orders of 2,846 increased 3%. The Company’s ending backlog totaled 3,604 homes, compared to 4,436. Ending backlog value was $1.70 billion, compared to $2.20 billion.

◦Monthly net orders per community were 3.5, compared to 3.6.

◦The cancellation rate as a percentage of gross orders was 12%, compared to 16%.

•The average community count for the quarter grew 7% to 274, and the ending community count was up 8% to 276.

Balance Sheet as of February 28, 2026 (comparisons to November 30, 2025)

•The Company had total liquidity of approximately $1.20 billion, including $200.5 million of cash and cash equivalents and nearly $1.00 billion of available capacity under its unsecured revolving credit facility (“Credit Facility”), with $200.0 million of cash borrowings outstanding.

•Inventories increased slightly to $5.70 billion.

kbh-202512180000795266false00007952662025-12-182025-12-18

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report: December 18, 2025 (Date of earliest event reported)

KB HOME

(Exact name of registrant as specified in its charter)

Delaware1-919595-3666267 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

10990 Wilshire Boulevard Los Angeles, California 90024 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (310) 231-4000 Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On December 18, 2025, KB Home issued a press release announcing its results of operations for the three months and twelve months ended November 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein. The information in this report, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 99.1    Press release dated December 18, 2025 announcing KB Home’s results of operations for the three months and twelve months ended November 30, 2025. 104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

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EXHIBIT INDEX

Exhibit No.  Description

99.1Press release dated December 18, 2025 announcing KB Home’s results of operations for the three months and twelve months ended November 30, 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 18, 2025

KB Home

By:/s/ William A. (Tony) Richelieu

William A. (Tony) Richelieu

Vice President, Corporate Secretary and Associate General Counsel

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