KB Home announces new $1B buyback authorization

“Our newly authorized $1 billion share repurchase authorization positions us to continue our balanced approach to capital allocation. We remain committed to investing in our future growth while returning a meaningful amount of capital to our stockholders. Believing our shares are undervalued at current market levels, and with the confidence in our ongoing ability to generate significant operating cash flows as well as maintain a solid balance sheet, we expect share repurchases to remain a key priority for our Company,” said Jeffrey Mezger, CEO. “Since initiating our repurchase program in 2021, we have repurchased over $1.5 billion of shares, representing more than 34% of our shares outstanding, and have led our industry in repurchasing the highest percentage of our market capitalization, underscoring our stockholder-focused strategy.”