KB Home (KB Home (KBH)) delivered a mixed bag of second-quarter results after Tuesday's closing bell. Revenue came in at $1.11 billion, just ahead of the $1.10 billion analysts were expecting, according to market data. But earnings per share of 43 cents missed the consensus estimate of 45 cents. The stock, however, didn't seem to mind — shares were up 2.97% in after-hours trading, changing hands at $54.31.

The homebuilder delivered 2,395 homes during the quarter, a 23% drop from the same period last year. The average selling price also slipped, falling about 5.5% year-over-year to $461,900. Net orders — a key indicator of future demand — declined 4% to 3,317. The ending backlog value stood at $2.14 billion, while inventories inched up to $5.73 billion.

On the capital allocation front, KB Home said it repurchased roughly $75 million of its common stock during the quarter. The company ended the period with $199.82 million in cash and cash equivalents.

“We produced solid second-quarter results that met or exceeded the mid-point of our key guidance ranges,” said Jeffrey Mezger, executive chairman of KB Home. “Our return to a predominantly Built to Order business model continued to gain momentum, with these homes representing 73% of our net orders in the quarter, progress that we believe supports stronger, more sustainable performance over time and across market cycles.”

Looking ahead, KB Home expects third-quarter housing revenue between $1.20 billion and $1.35 billion. For the full year 2026, the company guided for housing revenue in the range of $4.90 billion to $5.30 billion. Executives will discuss the quarter in more detail on an earnings call scheduled for 5 p.m. ET.