10:51 AM EDT, 09/25/2025 (MT Newswires) -- KB Home ( KBH ) reported "solid" fiscal Q3 results that topped expectations, but are offset by the demand commentary, declining backlog, and the company's revenue outlook cut, Oppenheimer said in a Wednesday note.

The company reported fiscal Q3 net income late Wednesday of $1.61 per diluted share, down from $2.04 a year earlier, as revenue declined to $1.62 billion from $1.75 billion. KB Home ( KBH ) also lowered its fiscal 2025 housing revenue guidance to between $6.10 billion and $6.20 billion from previously expected $6.30 billion to $6.50 billion.

Deliveries and net orders declined year over year in fiscal Q3 but KBH management said orders were consistent during the quarter, according to the note. Oppenheimer said the company has not yet seen much shift in demand this month, even with lower mortgage rates.

Oppenheimer maintained its perform rating on KB Home ( KBH ).

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