KB Home ( KBH ) reported financial results for the second quarter after the market close on Monday. Here’s a rundown of the U.S. homebuilder’s report.

Q2 Earnings: KB Home ( KBH ) reported second-quarter revenue of $1.52 billion, beating analyst estimates of $1.51 billion. The company reported second-quarter earnings of $1.50 per share, beating analyst estimates of $1.47 per share, according to Benzinga Pro.

KB Home ( KBH ) delivered 3,120 homes in the quarter, down 11% on a year-over-year basis. The average selling price “increased slightly” to $488,700, while net orders decreased 13% year-over-year to 3,460. Ending backlog value was down 27% to $2.29 billion and inventories increased 7% to $5.91 billion.

KB Home ( KBH ) said it repurchased $200 million of its common stock during the quarter. The company had $450 million remaining under its buyback program as of May. 31. KB Home ( KBH ) ended the period with $308.9 million in cash and cash equivalents.

“Our second quarter financial performance was solid, with results meeting or exceeding our guidance ranges, as we continue to navigate the current environment. Our team is producing improvements in two key areas, lowering our build times and reducing direct construction costs, helping to strengthen our business,” said Jeffrey Mezger, chairman and CEO of KB Home ( KBH ).

Outlook: KB Home ( KBH ) expects full-year 2025 housing revenue to be in the range of $6.3 billion to $6.5 billion, down from prior guidance of $6.6 billion to $7 billion. The company anticipates 2025 average selling prices of $480,000 to $490,000.

“Though market conditions have softened, we remain consistent in our focus on optimizing our assets to offer the most compelling value to our buyers, maintaining pricing transparency and enhancing margins and returns,” Mezger said.

KB Home ( KBH ) said it will provide guidance for the third quarter on its earnings call, scheduled to start at 5 p.m. ET.

KBH Price Action: KB Home ( KBH ) shares were down 2.14% in after-hours, trading at $52.18 at the time of publication Monday, according to Benzinga Pro.

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