KB Home (KBH) Reports Q2 Profit Decline, Misses Estimates

KB Home (KBH) on June 23, 2026, reported a significant decrease in its second-quarter profit and revenue, falling short of Wall Street expectations. The homebuilder posted net income of $150 million, or $1.75 per share, for the quarter ended May 31, 2026. This is down from $200 million, or $2.10 per share, recorded in the same period last year. Revenue for the quarter also declined to $1.6 billion from $1.8 billion year-over-year. Analysts had anticipated earnings of $1.90 per share on revenue of $1.7 billion. The company attributed the profit retreat to fewer home deliveries and increased construction costs, alongside higher mortgage rates impacting buyer affordability. KB Home revised its full-year 2026 revenue guidance downwards to a range of $6.0 billion to $6.4 billion, from its previous forecast of $6.5 billion to $6.8 billion.