KB Home (NYSE:KBH) Q2 2022 Earnings Conference Call June 22, 2022 5:00 PM ET

Company Participants

Thad Johnson - SVP and Treasurer

Jeff Mezger - Chairman, President and CEO

Rob McGibney - EVP and Co-COO

Jeff Kaminski - EVP and CFO

Bill Hollinger - SVP and CAO

Conference Call Participants

Matthew Bouley - Barclays

Stephen Kim - Evercore ISI

Mike Rehaut - JP Morgan

Alan Ratner - Zelman & Associates

John Lovallo - UBS

Deepa Raghavan - Wells Fargo

Susan Maklari - Goldman Sachs

Jay McCanless - Wedbush Securities

Operator

Good afternoon. My name is Alex, and I will be your conference operator today. I would like to welcome everyone to the KB Home 2022 Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Following the company's opening remarks, we will open the line for questions. Today's conference call is being recorded and will be available for replay at the company's website kbhome.com, through July, 22.

Now, I would like to turn the call over to Thad Johnson, Senior Vice President, and Treasurer. Thad, you may begin.

Thad Johnson

Thank you, Alex. Good afternoon, everyone, and thank you for joining us today to review our results for the second quarter of fiscal 2022. On the call are Jeff Mezger, Chairman, President, and Chief Executive Officer; Rob McGibney, Executive Vice President and Chief Operating Officer; Jeff Kaminski, Executive Vice President and Chief Financial Officer; and Bill Hollinger, Senior Vice President and Chief Accounting Officer.

During this call items will be discussed that are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results and the company does not undertake any obligation to update them. Due to various factors, including those detailed today, in today's press release, and in our filings with the Securities and Exchange Commission, actual results could be materially different from those stated or implied in the forward-looking statements. In addition, a reconciliation of the non-GAAP measures referenced during today's discussion to their most directly comparable GAAP measures can be found in today's press release and/or on the Investor Relations page of our website at kbhome.com.

And with that, here is Jeff Mezger.

Jeff Mezger

Thank you, Thad. Good afternoon, everyone. We delivered strong financial results in our second quarter with 19% year-over-year growth in revenues. Alongside our increased scale, we significantly stepped up our profitability, expanding our homebuilding operating margin by more than 400 basis points to over 15%. As a result, we grew our diluted earnings per share by 55% to $2.32.