KBH - Homebuilder KB Home's Q3: Earnings Beat 14% Topline Decline Lower Average Selling Price & More | Benzinga
KB Home (NYSE: KBH) reported a third-quarter FY23 sales decline of 13.9% year-on-year to $1.59 billion, beating the analyst consensus of $1.48 billion.
Homes delivered in the quarter decreased 7% to 3,375, and the average selling price fell 8.3% to $466,300.
The housing gross profit margin decreased 520 basis points to 21.5%. The homebuilding operating margin contracted 640 basis points to 11.3%, and the homebuilding operating income for the quarter plunged 44.8% to $179.2 million.
Selling, general and administrative expenses as a percentage of ...