<p>KB Home（紐約證券交易所代碼：KBH）的股價在週三上漲超過 1%。該股票在過去三個月中下跌了 4%。這家房屋建築商計劃於 12 月 18 日市場收盤後公佈 2025 年第四季度的財報。以下是對財報的預期：</p>
<p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/09/KB-Home-Q3-2025.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1024" height="768" original-src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/09/KB-Home-Q3-2025.png"/></p>
<h2><strong>收入</strong></h2>
<p>分析師預計 KB Home 在 2025 年第四季度的收入為 16.6 億美元，較去年同期下降超過 16%。在 2025 年第三季度，收入同比下降 7%，為 16.2 億美元。</p>
<h2><strong>收益</strong></h2>
<p>2025 年第四季度每股收益的共識預期為 1.79 美元，較去年同期下降超過 28%。在 2025 年第三季度，每股收益同比下降 21%，為 1.61 美元。</p>
<p>KB Home 2025 年第三季度收益信息圖</p>
<h2><strong>注意事項</strong></h2>
<p>與同行一樣，KB Home 在一個充滿挑戰的住房市場中運營，通貨膨脹和利率成為了可負擔性的問題。然而，利率的下降使得可負擔性有所改善，這可能有助於其在第四季度的表現。該公司對住房市場的長期前景保持樂觀。</p>
<p>KB Home 預計 2025 年第四季度的住房收入將在 16 億至 17 億美元之間。平均售價預計為 465,000 至 475,000 美元，住房毛利率預計為 18.0% 至 18.4%。</p>
<p>在第三季度，KBH 的淨訂單下降了 4%，交付的房屋減少了 7%。平均售價為 475,700 美元，同比略有下降。調整後的住房毛利率從去年的 20.7% 下降至 18.9%，反映了價格下降、相對土地成本上升和地理組合的影響，部分被較低的建築成本所抵消。</p>
<p>KB Home 的定製建房模式為購房者提供符合其價格範圍的定製房屋，給公司帶來了優勢。這家房屋建築商更傾向於提供透明的價格，而不是通過激勵措施來推動銷售。</p>
<p>在其第三季度的財報電話會議上，KBH 提到計劃在第四季度強調定製建房，並且目標是將定製建房的比例恢復到 70%。預計定製建房的比例增加將推動毛利率的擴張，因為這些房屋的毛利率顯著高於庫存房屋。</p>
<p>關於 2025 年第四季度 KB Home（KBH）預計收入和收益下降的財報預覽首次出現在 AlphaStreet 上。</p>

<p>KB Home（紐約證券交易所代碼：KBH）預計在 2025 年第四季度報告收入和盈利的下降，預計收入為 16.6 億美元，同比下降超過 16%，每股收益（EPS）預計為 1.79 美元，下降超過 28%。儘管住房市場面臨挑戰，但利率的下調可能有助於業績表現。該公司對長期住房市場前景保持樂觀，並計劃強調定製住宅以提升利潤率</p>

<p>Shares of KB Home (NYSE: KBH) rose over 1% on Wednesday. The stock has dropped 4% over the past three months. The homebuilder is scheduled to report its earnings results for the fourth quarter of 2025 on Thursday, December 18, after the market closes. Here’s a look at what to expect from the earnings report:</p>
<div class="lb-trans"><p>KB Home（紐約證券交易所代碼：KBH）的股價在週三上漲超過 1%。該股票在過去三個月中下跌了 4%。這家房屋建築商計劃於 12 月 18 日市場收盤後公佈 2025 年第四季度的財報。以下是對財報的預期：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/09/KB-Home-Q3-2025.png" alt="" original-src="https://cdn.news.alphastreet.com/wp-content/uploads/2025/09/KB-Home-Q3-2025.png"/></p>
<h2><strong>Revenue</strong></h2>
<div class="lb-trans"><h2><strong>收入</strong></h2>
</div><p>Analysts are projecting revenue of $1.66 billion for KB Home for the fourth quarter of 2025, which indicates a decline of over 16% from the same period a year ago. In the third quarter of 2025, revenues decreased 7% year-over-year to $1.62 billion.</p>
<div class="lb-trans"><p>分析師預計 KB Home 在 2025 年第四季度的收入為 16.6 億美元，較去年同期下降超過 16%。在 2025 年第三季度，收入同比下降 7%，為 16.2 億美元。</p>
</div><h2><strong>Earnings</strong></h2>
<div class="lb-trans"><h2><strong>收益</strong></h2>
</div><p>The consensus estimate for earnings per share in Q4 2025 is $1.79, which points to a decrease of over 28% from the prior-year quarter. In Q3 2025, EPS fell 21% YoY to $1.61.</p>
<div class="lb-trans"><p>2025 年第四季度每股收益的共識預期為 1.79 美元，較去年同期下降超過 28%。在 2025 年第三季度，每股收益同比下降 21%，為 1.61 美元。</p>
</div><p>KB Home Q3 2025 Earnings Infographic</p>
<div class="lb-trans"><p>KB Home 2025 年第三季度收益信息圖</p>
</div><h2><strong>Points to note</strong></h2>
<div class="lb-trans"><h2><strong>注意事項</strong></h2>
</div><p>Like its peers, KB Home has been operating in a challenging housing market where inflation and interest rates have stood as barriers to affordability. However a downtick in interest rates has allowed affordability to pick up and this may have aided its performance in the fourth quarter. The company has remained optimistic on the long-term outlook for the housing market.</p>
<div class="lb-trans"><p>與同行一樣，KB Home 在一個充滿挑戰的住房市場中運營，通貨膨脹和利率成為了可負擔性的問題。然而，利率的下降使得可負擔性有所改善，這可能有助於其在第四季度的表現。該公司對住房市場的長期前景保持樂觀。</p>
</div><p>KB Home has forecasted housing revenues for the fourth quarter of 2025 to range between $1.6-1.7 billion. Average selling price is estimated to be $465,000-475,000 and housing gross margin is expected to be 18.0-18.4% for the quarter.</p>
<div class="lb-trans"><p>KB Home 預計 2025 年第四季度的住房收入將在 16 億至 17 億美元之間。平均售價預計為 465,000 至 475,000 美元，住房毛利率預計為 18.0% 至 18.4%。</p>
</div><p>In Q3, KBH’s net orders declined 4% while homes delivered were down 7%. Average selling price of $475,700 was down slightly YoY. Adjusted housing gross margin dropped to 18.9% from 20.7% last year, reflecting price reductions, higher relative land costs, and geographic mix, partly offset by lower construction costs.</p>
<div class="lb-trans"><p>在第三季度，KBH 的淨訂單下降了 4%，交付的房屋減少了 7%。平均售價為 475,700 美元，同比略有下降。調整後的住房毛利率從去年的 20.7% 下降至 18.9%，反映了價格下降、相對土地成本上升和地理組合的影響，部分被較低的建築成本所抵消。</p>
</div><p>KB Home’s built-to-order model, that offers homebuyers customized homes to suit their price range, provides the company with an advantage. The homebuilder also prefers to offer customers a transparent price rather than incentives to drive sales.</p>
<div class="lb-trans"><p>KB Home 的定製建房模式為購房者提供符合其價格範圍的定製房屋，給公司帶來了優勢。這家房屋建築商更傾向於提供透明的價格，而不是通過激勵措施來推動銷售。</p>
</div><p>On its Q3 earnings call, KBH mentioned that it plans to emphasize built-to-order homes in its sales approach in Q4 and that its goal is to return to a range of 70% built-to-order homes. An increase in the built-to-order mix is expected to boost gross margin expansion as these homes generate substantially higher margins than inventory homes.</p>
<div class="lb-trans"><p>在其第三季度的財報電話會議上，KBH 提到計劃在第四季度強調定製建房，並且目標是將定製建房的比例恢復到 70%。預計定製建房的比例增加將推動毛利率的擴張，因為這些房屋的毛利率顯著高於庫存房屋。</p>
</div><p>The post Earnings Preview: KB Home (KBH) anticipated to see a drop in revenue and earnings for Q4 2025 first appeared on AlphaStreet.</p>
<div class="lb-trans"><p>關於 2025 年第四季度 KB Home（KBH）預計收入和收益下降的財報預覽首次出現在 AlphaStreet 上。</p>
</div>

收益預覽：預計 KB Home（KBH）在 2025 年第四季度的收入和盈利將會下降