KE Holdings

BEKE

Market cap $19.2B

KE Holdings Inc. (BEKE) Q1 2026 Earnings Call Transcript

KE NYSE: BEKE reported a sharp improvement in first-quarter profitability despite lower transaction volume and revenue, as management said cost controls, operating efficiency gains and higher contribution margins across core businesses helped offset a softer year-over-year property market comparison.

BEIJING, May 19, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced its unaudited financial results for the first quarter ended March 31, 2026.

BEIJING, May 15, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today provides an update to the dial-in of its first quarter 2026 earnings call.

BEIJING, May 07, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that it will report its unaudited financial results for the first quarter 2026 before the U.S. market opens on Tuesday, May 19, 2026.

BEIJING, April 24, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today released its 2025 Environmental, Social and Governance report (the “2025 ESG Report”), highlighting Beike's ongoing efforts to strengthen its governance framework, enhance residential service experiences, empower industry participants through technology, and contribute to a sustainable future for the value chain, all underpinned by its mission of “Admirable service, joyful living.”

BEIJING, April 24, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE and HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission on April 24, 2026. The annual report can be accessed on the Company's investor relations website at https://investors.ke.com.

BEIJING, April 24, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE and HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that it will hold an annual general meeting of the Company's shareholders (the “AGM”) at 3:00 p.m. Beijing time on Friday, June 12, 2026 at Oriental Electronic Technology Building, No. 2 Chuangye Road, Haidian District, Beijing, PRC, for the purposes of considering and, if thought fit, passing each of the Proposed Resolutions as defined and set forth in the notice of the AGM (the “AGM Notice”). A circular of the Company dated April 24, 2026 in relation to the AGM, the AGM Notice and the form of proxy for the AGM are available on the Company's website at https://investors.ke.com/. The board of directors of the Company fully supports the Proposed Resolutions and recommends that shareholders and holders of American depositary shares (“ADSs”) of the Company vote in favor of the Proposed Resolutions.

KE Holdings remains a hold as core transaction volumes and revenues continue to decline sharply, with no imminent recovery in sight. Q4 results were weak: net revenues fell 28.7% y/y, GTV dropped 36.7%, and EBIT margin turned negative, reflecting broad-based pressure across key segments. Management maintains a neutral 2026 market outlook, and stabilization is not expected before 2027, limiting near-term re-rating potential.

I have retained a "Hold" rating for KE Holdings after analyzing its performance and prospects. Quarterly results were weak but met consensus. Its 4Q2025 revenue and net income were down 29% and 61%, respectively. BEKE's outlook is murky, considering a disappointing Q1 guide and a high probability of sustained shareholder returns.