ATLANTA--(BUSINESS WIRE)--Beazer Homes USA, Inc. (NYSE: BZH) (the “Company”) announced today the completion of its previously-announced offering of $250 million aggregate principal amount of 7.500% Senior Unsecured Notes due 2031 (the “Notes”). The Notes were offered in a private offering that was exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The net proceeds of the offering will be used to finance the repurchase of the Company’s 6.750% Senior N ...

ATLANTA--(BUSINESS WIRE)--Beazer Homes USA, Inc. (NYSE: BZH) (the “Company”) today priced an offering of $250 million aggregate principal amount of 7.500% Senior Unsecured Notes due 2031 (the “Notes”) at par. The Notes are being offered in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Company is offering the Notes to qualified institutional buyers in accordance with Rule 144A or outside the United States to non-U.S. persons in ...

ATLANTA--(BUSINESS WIRE)--Beazer Homes USA, Inc. (NYSE: BZH) (the “Company”) announced today that it is proposing to issue $250 million aggregate principal amount of Senior Unsecured Notes due 2031 (the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Company intends to offer the Notes to qualified institutional buyers in accordance with Rule 144A or outside the United States to non-U.S. persons in accorda ...

Beazer Homes (BZH) closed the latest trading day at $30.18, indicating a +1% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.51%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.58%.The homebuilder's stock has climbed by 2.65% in the past month, falling short of the Construction sector's gain of 9.47% and the S&P 500's gain of 2.94%.The investment community will be closely monitoring the performance of Beazer Homes in ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Beazer Homes (BZH) .Beazer currently has an average brokerage rec ...

ATLANTA--(BUSINESS WIRE)--Beazer Homes, alongside their partners, proudly announced the donation of $1.9 million to Fisher House Foundation this week. This substantial gift, presented to David Coker, President of Fisher House Foundation, during a special event in Las Vegas, marks a profound commitment to supporting military and veteran families in times of need. The donation represents the culmination of extensive fundraising efforts by Beazer Homes employees, bolstered by the generous contributions from ...

gorodenkoff Summary Beazer Homes USA (NYSE:BZH) reported weak results for Q1 2024, including lower revenues, lower earnings per share, negative free cash flow, and lower EBITDA. Q1 is typically a weak period for Beazer Homes and they guided these results at their last conference call. Here is a quick recap of Q1 results: Net income from continuing operations of $21.7 million, or $0.70 per diluted share, compared to net income from continuing operations of $24.4 million, or $0.80 per diluted share, in t ...

Shares of Beazer Homes (BZH -7.88%) fell 7.9% on Friday after the home construction company announced weaker-than-expected quarterly results.Why Beazer's "strong" quarter just wasn't enoughFor Beazer's fiscal first quarter ended Dec. 31, 2023, revenue declined 13.1% year over year to $386.8 million, translating to net income of just under $31 million, or $0.70 per share. Analysts, on average, were looking for earnings of $0.71 per share on revenue of $420.7 million. Beazer Chairman and CEO Allan Merrill cal ...

Beazer Homes USA, Inc. (BZH) reported dismal first-quarter fiscal 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. The metrics also fell from the year-ago quarter’s figures due to a decline in home closings and average selling price (ASP).This leading homebuilder’s shares dropped 4.6% in the after-hours trading session on Feb 1, after the earnings release.Nonetheless, BZH reported a significant increase in net new orders compared with the previous year’s levels, driven by a hig ...

Financial Data and Key Metrics Changes - For Q1 2024, new home orders were 823, up 71% year-over-year, with an average sales price of approximately $513,000 [22][9] - Gross margin was reported at 22.9%, with adjusted EBITDA at $38 million, which would have exceeded $40 million without a cybersecurity incident [23][5] - Net income for the quarter was $21.7 million, translating to earnings of $0.70 per share [24] Business Line Data and Key Metrics Changes - The company experienced a 50% improvement in sales pace, achieving two sales per community per month [9] - Community count increased by 14% year-over-year, closing the quarter with 136 active communities [16] Market Data and Key Metrics Changes - The macro environment for new home sales remains constructive, supported by job and wage growth, but affordability remains a significant challenge [10][11] - The company anticipates that if mortgage rates remain in the upper 6s, demand will likely stay healthy, with a target of closing around 1,100 homes in Q2 [25] Company Strategy and Development Direction - The operating strategy focuses on maximizing returns at the community level, adapting to buyer profiles and local competitive dynamics [12] - The company aims to have more than 200 active communities by the end of fiscal 2026, with a target of 155 communities by year-end [16][15] - Land spend for the quarter was nearly $200 million, up 73% year-over-year, with a full-year land spend expectation of around $750 million [17][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the spring selling season, citing a meaningful improvement in demand, particularly in December [9] - The company expects to generate a double-digit return on equity for the fiscal year while progressing towards multiyear goals [15][19] Other Important Information - The company reported a net debt to cap ratio of 43.7% at the end of the quarter, with expectations to reduce this to the low 30s by year-end [31][17] - More than half of the company's starts met the zero energy ready standard, with expectations to exceed 75% by year-end [18] Q&A Session Summary Question: Can you discuss the shift in your use of incentives during the first quarter? - Management noted a shift from temporary buy downs to permanent buy downs as mortgage rates declined, impacting pricing strategies [44] Question: What are your cash flow expectations for the remainder of the year? - The company spent about $200 million on land in the quarter, with land remaining the primary use of cash flow [51] Question: How did the fourth quarter play out regarding competitor discounts? - Management observed that many builders were under pressure to hit volume numbers, leading to discounts that the company did not engage in due to its spec-first strategy [68] Question: Can you identify some of the strongest and weakest markets? - Strong markets included California, Las Vegas, and Dallas, while Florida and Houston faced more price sensitivity [75][76] Question: What trends are you seeing in input costs for labor and materials? - Material costs, particularly lumber, have declined since late 2022, while labor costs have remained stable without significant pressure [95][96]