KB Home (NYSE: KBH) reported Q2 EPS of $1.94, $0.63 better than the analyst estimate of $1.31. Revenue for the quarter came in at $1.77 billion versus the consensus estimate of $1.4 billion.

Guidance

The Company is providing the following guidance for its 2023 full year:

• Housing revenues in the range of $5.80 billion to $6.20 billion.
• Average selling price of approximately $485,000.
• Homebuilding operating income as a percentage of revenues of about 11.0%, assuming no inventory-related charges.
• Housing gross profit margin of approximately 21.2%, assuming no inventory-related charges.
• Selling, general and administrative expenses as a percentage of housing revenues anticipated to be roughly 10.3%.
• Effective tax rate of approximately 23%.
• Average community count up about 10%, with ending community count flat, year over year.

The Company plans to also provide guidance for its 2023 third quarter on its conference call today.

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