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kb HOME NEWS RELEASE KB Home Reports 2021 Third Quarter Results 9/22/2021 Revenues Totaled $ 1.47 Billion , Up 47 % ; Diluted Earnings Per Share Grew 93 % to $ 1.60 Operating Income Margin Improved 270 Basis Points to 11.6 % ; Gross Margin Expanded to 21.5 % Net Order Value Up 22 % to $ 2.01 Billion ; Ending Backlog Value Increased 89 % to $ 4.84 Billion Repurchased 4.7 Million Shares , or 5.1 % of its Outstanding Shares , for $ 188.2 Million LOS ANGELES -- ( BUSINESS WIRE ) -- KB Home ( NYSE : KBH ) today reported results for its third quarter ended August 31 , 2021 . " We produced significant year - over - year growth in a number of key metrics during the third quarter , highlighted by our operating income margin increasing to 12.1 % , excluding inventory - related charges . We continue to effectively balance pace , price and starts , with a focus on optimizing our assets while growing our scale and expanding our gross margin , " said Jeffrey Mezger , Chairman , President and Chief Executive Officer . " While our third quarter deliveries were impacted by the ongoing industry - wide supply chain issues and labor shortages that have extended build times , we are working through solutions to mitigate the issues and stabilize our construction times . " " As we approach the end of our 2021 fiscal year , we expect that our increased scale at a higher profitability level will generate a return on equity of approximately 20 % for the year . Looking ahead to 2022 , we anticipate another year 1