KB Home (NYSE: KBH) reported Q1 EPS of $1.47, $0.09 worse than the analyst estimate of $1.56. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.5 billion.

Guidance

The Company is providing the following current guidance for its 2022 fiscal year:

• Housing revenues in the range of $7.20 billion to $7.60 billion.
• Average selling price in the range of $490,000 to $500,000.
• Homebuilding operating income as a percentage of revenues in the range of 16.0% to 16.6%, assuming no inventory-related charges.
• Housing gross profit margin in the range of 25.5% to 26.3%, assuming no inventory-related charges.
• Selling, general and administrative expenses as a percentage of housing revenues in the range of 9.2% to 9.8%.
• Effective tax rate of approximately 25%, assuming no federal energy tax credit extension is enacted.
• Ending community count of approximately 255.
• Return on equity in excess of 27%.

The Company plans to also provide guidance for its 2022 second quarter on its conference call today.

For earnings history and earnings-related data on KB Home (KBH) click here.