1748 ET - KB Home delivered 2,770 homes in the recent quarter, marking a 9% decrease from a year earlier. CEO Jeff Mezger says that deliveries came in below the homebuilder's expectations, in part because the company notched 150 fewer inventory home sales than it projected. "We also had roughly 75 deliveries in Southern California shift into the second quarter as we were unable to get meters, utility hookups and final clearances on completed homes, with crews diverted to priorities related to wildfires in the Los Angeles area that occurred in January," COO Rob McGibney. Shares fall 7.4% after hours. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 17:48 ET (21:48 GMT)
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