Homebuilder stocks fall as Q1 revenue misses hit KBH, NVR, LEN and peers

Homebuilder stocks tracked in the Q1 earnings season fell an average 6.2% after the group’s revenue missed analyst estimates by 1.7%, underscoring pressure from high interest rates on new and existing home sales. KB Home (NYSE: KBH) reported revenue of $1.08 billion, down 22.6% from a year earlier and 1.8% below consensus. The company also missed EBITDA and EPS estimates, and its shares are down 6.9% since the report, trading at $49.31. Taylor Morrison Home (NYSE: TMHC) posted revenue of $1.39 billion, down 26.8% but 4.1% above estimates, the strongest beat in the group. NVR (NYSE: NVR) had the weakest estimate performance, with revenue of $1.88 billion, down 21.7% and 7.8% below expectations. Tri Pointe Homes (NYSE: TPH) revenue fell 29.6% to $521.4 million, while Lennar (NYSE: LEN) revenue declined 13.3% to $6.62 billion, 4.5% below estimates.