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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
KB Home
KB Home (KBH) investor relations material
KB Home Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary22 Sep, 2026
Executive summary
Q3 revenue was $1.297B, down 20% year over year; net income was $65.3M and diluted EPS was $1.05.
Higher mortgage rates, affordability pressure and resale competition weighed on demand; net orders fell 12%, while backlog value rose 3%.
Built to Order homes made up 74% of deliveries, supporting backlog growth and visibility into future deliveries.
Financial highlights
Homes delivered fell 19% to 2,732; average selling price was $473,000, nearly flat year over year.
Homebuilding operating income was $67.1M, with a 5.2% margin versus $131.2M and 8.1% a year earlier; adjusted margins were 5.4% and 8.8%.
Housing gross margin was 16.5% (16.8% adjusted), compared with 18.2% (18.9% adjusted) a year earlier.
SG&A was 11.3% of housing revenue, up from 10.0% year over year.
Nine-month revenue was $3.487B; net income was $126.1M and diluted EPS was $2.00.
Outlook and guidance
Q4 guidance: 3,000–3,500 deliveries, $1.45B–$1.65B housing revenue, 16.0%–16.6% housing gross margin and SG&A of 10.3%–10.9%.
FY26 guidance: 10,500–11,000 deliveries, $4.90B–$5.10B housing revenue, 16.0%–16.2% housing gross margin and SG&A of 11.5%–11.7%.
Q4 and FY26 effective tax rates are expected at ~26.0% and ~23.0%; Q4 share repurchases may reach $50.0M.
Full-year margin outlook was modestly lowered and narrowed; the BTO delivery mix goal remains 60%–70%.
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Latest events from KB Home
- Q4 orders surged as FY2023 revenue and earnings declined YoY.KBH
Q4 2023 - Q2 2026 revenues and earnings declined, but operational gains and liquidity remain strong.KBHQ2 2026
- Board elections, compensation, and auditor ratification proceeded with no shareholder questions.KBHAGM 2026
- Q1 2026 revenue fell 23%, but net orders rose 3% and outlook remains positive.KBHQ1 2026
- Strong financials, leadership transition, and leading ESG drive robust governance and shareholder value.KBHProxy Filing
- Revenue and net income fell, but margins held and share repurchases accelerated.KBHQ2 2025
- Q3 revenue and EPS rose double digits, with strong land investment and share buybacks.KBHQ3 2024
- Revenue and net income declined, but pricing and liquidity remained resilient.KBHQ1 2025
- Q4 delivered double-digit revenue and EPS growth, strong orders, and a positive 2025 outlook.KBHQ4 2024
Next KB Home earnings date
Q4 202613 Jan, 2027
KB Home
Next KB Home earnings date
Q4 202613 Jan, 2027
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Frequently asked questions
Single-family Homes
KB Home is an American homebuilding company. It primarily focuses on residential construction for a range of customers, with a primary focus on single-family homes. KB Home is known for its unique approach to building homes tailored to its customers' specific preferences. This personalization extends to aspects such as design choices, floor plans, and sustainable building practices. The company is headquartered in Los Angeles, California, and its shares are listed on the NYSE.
A History of Affordable Homes
KB Home originated in Detroit in 1956, founded by Donald Bruce Kaufman and Eli Broad. Their initial project involved building two model homes in Detroit's northeastern suburbs, an area attracting many first-time homebuyers. Their innovative approach streamlined the construction process, notably excluding basements and instead providing a carport. This strategy allowed them to set the home prices at a point where the monthly mortgage payments were lower than the rent for a two-bedroom apartment. This proved to be a successful formula and helped the company expand across the country and into new markets.
The Homes
KB Home specializes in building a diverse range of residential properties, primarily focusing on single-family homes. These homes vary in size, design, and price, catering to a wide spectrum of buyers, from first-time homeowners to those seeking more spacious or luxurious properties. Many of its homes incorporate eco-friendly materials and are designed to reduce energy consumption, featuring elements like solar power systems, water-saving fixtures, and energy-efficient appliances. Some similar companies to KB Home are D.R. Horton, PulteGroup, and Lennar.
Customization Options
KB Home distinguishes itself with a strong emphasis on customization, allowing buyers to tailor various aspects of their homes to suit personal tastes and needs. This personalization extends to floor plans, interior and exterior design choices, and finishes, offering a broad range of options. Clients can choose everything from room layouts and kitchen designs to flooring and cabinetry, giving customers the ability to move into a home that they’re completely happy with from the get-go.