KB Homes slips after cutting full-year 2025 revenue forecast

KB Home

24/03/2025 21:02

** Homebuilder KB Home's shares KBH.N fall 9% to $56.27 after the bell

** KBH lowers FY 2025 housing revenue forecast to range from $6.6 bln to $7 bln, from earlier view of 7 bln to $7.5 bln

** "We are reducing our revenue guidance for fiscal 2025 primarily to reflect the lower level of net orders we generated in the first quarter" - CEO Jeffrey Mezger

** Q1 total net orders fell 17% yoy; Q1 total revenue fell 5% yoy to $1.39 bln

** KBH also appoints Robert R. Dillard as co's new CFO

** As of Monday's close, stock had fallen ~6% YTD

 (Reporting by Aatreyee Dasgupta)

 ((Aatreyee.Dasgupta@thomsonreuters.com))