KB Home (KBH) reported fiscal Q3 earnings late Tuesday of $1.05 per diluted share, down from $1.61 a year earlier.
Analysts polled by FactSet expected $0.89.
Revenue in the three months ended Aug. 31 fell to $1.3 billion from $1.62 billion a year earlier.
Analysts projected $1.3 billion.
The company expects Q4 housing revenue of $1.45 billion to $1.65 billion.
KB Home projects full-year housing revenue of $4.9 billion to $5.1 billion, compared with the previous outlook of $4.9 billion and $5.3 billion.
KB Home shares rose 1.6% in after-hours trading.