Beazer Homes Surpasses $10 Million Raised for Fisher House Foundation Accessibility StatementSkip Navigation -- Employee and partner-led charitable giving effort delivers one million nights of free housing for veterans and service members ATLANTA, March 25, 2026 /PRNewswire/ -- Beazer Homes, the country's #1 energy efficient homebuilder*, just announced that, through the Beazer Charity Foundation and with the support of its employees and partners, it has surpassed $10 million in total funds raised for its p ...

分组1 - Beazer Homes (BZH) is currently rated as a Zacks Rank 5 (Strong Sell) after missing the Zacks Consensus Estimate [1] - The stock has a Zacks Style Score for Value of F and a F for Growth, indicating poor performance in both categories [1] 分组2 - Charter Communications, Inc. provides broadband communications services, including Spectrum TV, Spectrum Internet, and Spectrum Voice [2] - The company has a history of inconsistent earnings performance, having beaten the Zacks Consensus Estimate in only one of the last four quarters [4] - The most recent quarter reported an EPS of $8.34, which was below the consensus estimate of $9.32 [4] - Earnings estimates for Charter Communications have been revised lower, with the current fiscal year consensus improving slightly from $36.73 to $36.75, while the next fiscal year estimate decreased from $43.16 to $43.00 [5] - Negative movements in earnings estimates have contributed to Charter Communications being rated as a Zacks Rank 5 (Strong Sell) [5][6]

Core Insights - Beazer Homes' stock dropped 11% after a disappointing fiscal Q1 2026 earnings report, with losses of $1.13 per share and sales of $363.5 million, significantly worse than analyst expectations of a $0.50 loss per share and $423.2 million in sales [1][3]. Financial Performance - The company experienced a 22% decline in revenue due to a 23% decrease in home sales during the quarter [3]. - Despite the drop in unit sales, earnings did not decline as sharply, indicating that Beazer did not significantly reduce prices to move inventory [3]. Management Commentary - CEO Allan Merrill attributed the poor results to "persistent demand challenges and elevated incentives in the market" [3]. - Management aims to improve margins while maintaining prices and cutting costs, with hopes of avoiding further litigation-related charges that previously cost $0.23 per share in additional losses [4]. Market Outlook - Merrill noted that national builders' slowing starts and lower mortgage rates could help balance supply and demand in 2026, potentially boosting profits [5]. - New orders fell 18% in Q1, but this decline was less severe than the drop in home closings, suggesting some stabilization [5]. Analyst Projections - Wall Street analysts forecast a profit of $1.43 per share for the full year, representing a 25% decrease, indicating expectations of worsening conditions before improvement [6]. - Given the current price-to-earnings ratio of 15 and ongoing business decline, it may be premature to invest in Beazer stock [6].

Company Performance - Beazer Homes USA (BZH) has underperformed in the past year, with a loss of approximately 10% in its stock value [1] - The company is facing challenges due to a weak US housing market, which has hindered its expansion efforts [1] Market Context - The overall US housing market is currently weak, impacting homebuilders like Beazer Homes [1]

Core Insights - Beazer Homes (BZH) reported a revenue of $363.49 million for the quarter ended December 2025, reflecting a year-over-year decline of 22.5% and a significant EPS of -$0.90 compared to $0.10 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $423.23 million by 14.12%, while the EPS was also below the consensus estimate of -$0.49, resulting in an EPS surprise of -83.67% [1] Financial Performance Metrics - Total home closings were reported at 700, which is below the three-analyst average estimate of 799 [4] - The average selling price (ASP) from closings was $513.90, slightly lower than the estimated $515.07 [4] - The average active community count stood at 167, compared to the average estimate of 170 [4] - Backlog units were reported at 1,008, which is lower than the estimated 1,054 [4] - New orders, net of cancellations, totaled 763, falling short of the estimated 908 [4] - Revenue from land sales and other was $3.75 million, significantly below the average estimate of $12.5 million, marking a year-over-year decline of 56.1% [4] - Homebuilding revenue was $359.74 million, compared to the estimated $411.61 million, representing a year-over-year decline of 21.9% [4] - Gross profit from homebuilding was reported at $37.42 million, which is lower than the average estimate of $53.12 million [4] Stock Performance - Beazer's shares have returned +16.3% over the past month, outperforming the Zacks S&P 500 composite's +0.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - Beazer Homes reported a quarterly loss of $0.9 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.49, marking an earnings surprise of -83.67% [1] Financial Performance - The company posted revenues of $363.49 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 14.12% and down from $468.95 million a year ago [2] - Over the last four quarters, Beazer has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Beazer shares have increased by approximately 16.3% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.20 for the coming quarter and $1.47 for the current fiscal year, with revenues expected to be $609.87 million and $2.53 billion respectively [7] - The Zacks Rank for Beazer is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Building Products - Home Builders industry is currently in the bottom 2% of over 250 Zacks industries, suggesting potential challenges for stocks in this sector [8]

Financial Data and Key Metrics Changes - The company reported home building revenue of $359.7 million, with 763 homes sold at an average selling price (ASP) of $514,000, resulting in a home building gross margin of 14% [12][14] - Adjusted EBITDA for the first quarter was negative $11.2 million, with a diluted loss per share of $1.13, which included a litigation-related charge impacting results [13][14] - Book Value Per Share finished the quarter above $41, reflecting an increase compared to the previous year [10] Business Line Data and Key Metrics Changes - The company sold 763 homes, with a sales pace of 1.5 homes per community per month, indicating a decline in demand compared to previous periods [12] - Spec homes accounted for 70% of closings but only 61% of sales, suggesting a shift in buyer preferences [12] - Newer communities, defined as those starting sales after April 2025, represented just over 10% of first-quarter revenue but are projected to account for about 50% of fourth-quarter revenue, with ASPs and margins significantly higher than existing communities [8][12] Market Data and Key Metrics Changes - The company experienced a soft demand environment at the start of fiscal 2026, but noted improved buyer engagement and traffic in January, aligning with the previous year's sales pace [4][5] - The company anticipates selling approximately 1,100 homes in the second quarter, with an expected ASP of around $520,000-$525,000 [14] Company Strategy and Development Direction - The company is focused on enhancing balance sheet efficiency, reducing construction costs, and driving higher home building margins in the latter half of the year [4][5] - The introduction of Solar-Included homes aims to differentiate the company from competitors by offering significant utility savings, with expectations that these homes will account for 20% of business by year-end [5][34] - The company plans to execute $150 million in land sales to fund share repurchases, which are expected to be accretive for shareholders [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the current market conditions but highlighted paths to grow EBITDA and book value per share despite a slow start to the fiscal year [4][20] - The company expects to achieve a double-digit compound annual growth rate (CAGR) in book value per share through profitability and share repurchases, even in a challenging market [11][18] Other Important Information - The company has a strong liquidity position with over $340 million in total liquidity, including $121 million in unrestricted cash [18] - The company is committed to deleveraging to the low 30% range by the end of fiscal 2027, while maintaining a net leverage at or below 40% [10][18] Q&A Session Summary Question: Is the repurchase plan contingent on the timing of the $150 million profitable land sales? - Management indicated that the repurchase plan is not strictly contingent on the timing of land sales, although it will be executed over the course of the year [26] Question: What is the gross margin spread between build-to-order versus spec homes? - Management stated that the spread has historically been in the 4%-5% range and may have widened recently [27] Question: What factors are driving improved traffic and sales? - Management attributed the improved traffic to a combination of lower interest rates, stabilized home prices, and the introduction of high-efficiency homes [28][30] Question: When do Solar-Included homes expect to impact orders and closings? - Management expects that by the end of the year, solar-included communities will represent about 20% of their business, with higher margins than average [34] Question: What is the current inventory positioning heading into the new year? - Management reported a healthy inventory position, with a combined spec position down from previous levels, which is favorable for the spring selling season [64] Question: What would be more impactful for customers, rate changes or down payment assistance? - Management emphasized that a combination of wage growth and monthly payment reduction is more important for buyers than down payment assistance [67]

Financial Data and Key Metrics Changes - The company reported home building revenue of $359.7 million, with 763 homes sold at an average selling price (ASP) of $514,000, resulting in a home building gross margin of 14% [12][14] - Adjusted EBITDA for the first quarter was negative $11.2 million, with a diluted loss per share of $1.13, which included a litigation-related charge impacting results [13][14] - Book Value Per Share finished the quarter above $41, reflecting an increase compared to the previous year [10] Business Line Data and Key Metrics Changes - The company sold 763 homes during the first quarter, with a sales pace of 1.5 homes per community per month, which was below expectations due to a tough market environment [12][14] - Spec homes accounted for 70% of closings but only 61% of sales, indicating a shift in sales mix [12] - Newer communities, defined as those starting sales after April 2025, represented just over 10% of first-quarter revenue but are projected to account for about 50% of fourth-quarter revenue, with ASPs and margins significantly higher than existing communities [8][12][56] Market Data and Key Metrics Changes - The company experienced improved buyer engagement in January, with sales pace aligning with the prior year after eight quarters of year-over-year compression [4][20] - The average selling price is expected to reach $565,000 in the second half of the year, driven by newer communities [16][18] Company Strategy and Development Direction - The company is focused on enhancing balance sheet efficiency, reducing construction costs, and driving higher home building margins in the latter half of the year [4][5] - The introduction of Solar-Included Homes aims to differentiate the company from competitors by providing significant utility savings for customers [5][6][36] - The company plans to execute $150 million in land sales to fund share repurchases, which are expected to be accretive for shareholders [9][10][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a slow start to fiscal 2026 but emphasized a path to full-year EBITDA growth, contingent on market stability and improved sales pace [20] - The company expects to grow book value per share by 5%-10% by executing share repurchases, independent of EBITDA growth [18][20] - Management highlighted the importance of improving affordability through wage growth and reduced monthly payments as key factors influencing buyer demand [28][67] Other Important Information - The company reduced labor and material construction costs by over $10,000 per home, contributing to margin expansion [8] - The company has a strong liquidity position with over $340 million available, including $121 million in unrestricted cash [18][19] Q&A Session Summary Question: Is the repurchase plan contingent on the timing of the $150 million profitable land sales? - Management indicated that the repurchase plan is not strictly contingent on the timing of land sales, although it will be executed throughout the year [26] Question: What is the gross margin spread between build-to-order versus spec homes? - The gross margin spread has historically been in the 4%-5% range, which may have widened recently [27] Question: What factors are driving improved traffic and sales? - Management attributed improved traffic to a combination of lower interest rates, stabilized home prices, and the introduction of high-efficiency homes [28][30] Question: When will Solar-Included Homes begin to impact orders and closings? - Management expects that by the end of the year, solar-included communities will account for about 20% of the business, with higher margins than average [34][35] Question: How is inventory positioning heading into the new year? - The company reported a healthy inventory position, with a combined spec position down from previous levels, which is favorable for the spring selling season [64] Question: What would be more impactful for customers, rate changes or down payment assistance? - Management believes a combination of wage growth and monthly payment reduction is more important for buyers than down payment assistance [67]

Financial Data and Key Metrics Changes - The company reported home building revenue of $359.7 million, with 763 homes sold at an average selling price (ASP) of $514,000, resulting in a home building gross margin of 14% [12][10] - Adjusted EBITDA for the first quarter was negative $11.2 million, with a diluted loss per share of $1.13, which included a litigation-related charge impacting results [13][10] - Book Value Per Share finished the quarter above $41, reflecting an increase compared to the previous year [10] Business Line Data and Key Metrics Changes - The company sold 763 homes, with a sales pace of 1.5 sales per community per month, indicating a cautious approach to volume amidst a tough market [12][10] - Spec homes represented 70% of closings but only 61% of sales, suggesting a shift in sales strategy [12] - New communities, defined as those starting sales in or after April 2025, accounted for just over 10% of first-quarter revenue but are projected to represent about 50% of fourth-quarter revenue [8][10] Market Data and Key Metrics Changes - The company noted improved buyer engagement and traffic since mid-December, with January sales pace aligning with the prior year after eight quarters of decline [4][10] - The company is experiencing a modest shift towards to-be-built sales, which could further enhance margins [8][10] Company Strategy and Development Direction - The company is focused on differentiating its product offerings, reducing construction costs, and enhancing balance sheet efficiency to drive growth [4][10] - The introduction of Solar-Included Homes aims to provide significant utility savings for customers, enhancing the company's competitive edge [5][10] - The company plans to sell non-strategic assets to fund share repurchases, with an expectation of generating around $150 million in proceeds [9][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a slow start to fiscal 2026 but emphasized a path to full-year EBITDA growth, citing positive indicators for the spring selling season [20][10] - The company expects to grow book value per share by 5%-10% by executing share repurchases, independent of EBITDA growth [18][10] - Management highlighted the importance of maintaining a strong balance sheet, with over $340 million in total liquidity [18][10] Other Important Information - The company anticipates closing approximately 800 homes in the second quarter, with an ASP around $520,000-$525,000 [13][10] - The litigation-related charge was a one-time expense, not expected to recur [61][10] Q&A Session Summary Question: Is the repurchase plan contingent on the timing of the $150 million profitable land sales? - Management indicated that the repurchase plan is not strictly contingent on the timing of land sales, although it will be executed throughout the year [25] Question: What is the gross margin spread between build-to-order versus spec homes? - The gross margin spread has historically been in the 4%-5% range, which may have widened recently [26] Question: What factors are driving improved traffic in late December and January? - Management attributed the improved traffic to a combination of lower interest rates, stabilized home prices, and the introduction of new communities with high efficiency homes [28][10] Question: When will Solar-Included Homes begin to impact orders and closings? - Management expects that by the end of the year, solar-included communities could represent about 20% of the business, with higher margins than average [34][10] Question: How is inventory positioning heading into the new year? - The company reported a healthy inventory position, with a combined spec position down from previous quarters, which is expected to support profitability [63][10] Question: What would be more impactful for customers, rate changes or down payment assistance? - Management emphasized that a combination of wage growth and monthly payment reduction is more critical for buyers than down payment assistance [66][10]

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