POST Online Media Lite Edition


KB Home Q2 income grew 62%

Christian Fernsby |
KB Home reported results for its second quarter ended May 31, 2022.

Article continues below

Revenues grew 19% to $1.72 billion.

Homes delivered were essentially even at 3,469.

Average selling price rose 21% to $494,300.

Homebuilding operating income grew 62% to $264.5 million. The homebuilding operating income margin increased 410 basis points to 15.4% as a result of improvements in both the housing gross profit margin and selling, general and administrative expense ratio.

“We delivered strong results in the second quarter, generating significant year-over-year growth in revenues, operating income and diluted earnings per share,” said Jeffrey Mezger, Chairman, President and Chief Executive Officer.

“With our ending backlog of over $6 billion, we are reaffirming our fiscal 2022 guidance, which we believe we are well positioned to achieve.”

What to read next

Lennar Corporation profit jumps 45 percent on strong housing demand
First Bancshares full year net income $2 per share
Lennar Corporation revenues from home sales increased 30%