KB Home Cuts 2025 Outlook Amid Consumer Concerns

KB Home's shares plummeted following the release of its first-quarter fiscal 2025 results, which fell short of analyst expectations. The company reported earnings per share of $1.49 and revenue of $1.39 billion, both missing forecasts, as consumer hesitancy due to affordability concerns and macroeconomic uncertainties dampened demand. Consequently, KB Home has revised its full-year revenue guidance downward to between $6.6 billion and $7 billion, along with a lowered average selling price forecast. CEO Jeffrey Mezger noted that the spring selling season began more slowly than usual, reflecting the current economic climate. Additionally, KB Home reported a decline in home deliveries by 9% and a 17% drop in new orders during the quarter. The company also announced the appointment of Robert Dillard as its new CFO, effective March 31.