Company Performance - Cisco Systems reported fiscal Q1 earnings of $0.91 per share, beating expectations by $0.04, but showing an 18% decline year over year [3] - Revenues for Cisco were $13.75 billion, slightly missing expectations and down 6.2% year over year [3] - Beazer Homes reported fiscal Q4 earnings of $1.69 per share, exceeding the Zacks consensus by $0.33, with revenues of $784 million surpassing the expected $774.3 million [5] Market Reaction - Cisco shares remained flat in after-market trading, with a year-to-date increase of 17%, lagging behind the S&P 500's 26% rise [4] - Beazer Homes shares increased by 12% following the strong fiscal Q4 report, reversing its negative year-to-date share price trend [5] Economic Indicators - The U.S. Federal Budget deficit for the month was reported at -$257 billion, worse than the expected -$243 billion and significantly down from the previous month's -$67 billion [2]

Financial Data and Key Metrics Changes - The company generated $243 million in adjusted EBITDA and earnings per share of $4.53, representing double-digit returns on both capital employed and equity [7] - The average community count in fiscal '24 was 144, with expectations to increase by 18 to 22 communities in fiscal '25, leading to over 10% top-line growth [11][12] - Total liquidity exceeded $500 million at the end of the fiscal year, with no maturities until October 2027 [25] Business Line Data and Key Metrics Changes - The company invested more than $750 million in land and land development, up nearly 36% from the prior year, resulting in 162 active communities, a 20% increase year-over-year [7][8] - The sales pace improved significantly in October, with orders up over 30% on a community count, and the sales pace returning to more normal levels [10] Market Data and Key Metrics Changes - The sales environment was characterized by strained affordability and high mortgage rates, but the outlook for new home sales remains positive due to a structural deficit in housing supply and favorable demand demographics [9] - The company expects spec sales to represent more than 60% of closings, the highest level in a decade, which typically carries lower margins [11][12] Company Strategy and Development Direction - The company is committed to achieving 100% Zero Energy Ready homes, with 92% of starts meeting the DOE standard in the second half of FY '24 [14][15] - The strategy includes a focus on improving sales pace and adjusting pricing strategies in response to market conditions [9][42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about job and wage growth, indicating a potential soft landing for the economy, despite elevated mortgage rates [11] - The company anticipates significant revenue growth and profitability that generates a double-digit return on capital employed for fiscal '25 [12][24] Other Important Information - The company has a clear path to ending fiscal '26 with more than 200 communities and aims to maintain a net debt to net capitalization ratio below 30% by the end of fiscal '26 [13][25] - The company has increased its land position from fewer than 17,000 lots to nearly 28,000 lots over the last five years [26] Q&A Session Summary Question: Community count ramp and growth confidence - Management expressed confidence in the ramp due to increased land position and visibility on community openings [30] Question: Sales pacing improvement in October - Management noted improvements in sales pace in October, with a positive trend compared to September [31] Question: Absorption expectations for the year - Management acknowledged the previous year's low absorption rate but expressed confidence in returning to historical levels due to improved market conditions [34] Question: Margin guidance for Q1 - Management indicated that the adjusted gross margin for Q1 is expected to be around 19%, the lowest in over a decade, but anticipated to improve throughout the year [35] Question: Incentives and competitive environment - Management discussed the adjustments made in pricing and incentives in specific markets, leading to improved sales pace [42] Question: Zero Energy Ready homes and margin benefits - Management highlighted the higher margins associated with Zero Energy Ready homes and the potential for cost reductions in delivering these homes [38][40] Question: Share buybacks and capital allocation - Management stated that while share buybacks are considered, the primary focus remains on land spending and growth [61]

For the quarter ended September 2024, Beazer Homes (BZH) reported revenue of $806.16 million, up 24.9% over the same period last year. EPS came in at $1.69, compared to $1.80 in the year-ago quarter.The reported revenue represents a surprise of +4.12% over the Zacks Consensus Estimate of $774.29 million. With the consensus EPS estimate being $1.36, the EPS surprise was +24.26%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Beazer Homes (BZH) came out with quarterly earnings of $1.69 per share, beating the Zacks Consensus Estimate of $1.36 per share. This compares to earnings of $1.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 24.26%. A quarter ago, it was expected that this homebuilder would post earnings of $0.84 per share when it actually produced earnings of $0.88, delivering a surprise of 4.76%.Over the last four quarters, the company h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _____________________________________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value BZH New York Stock Exchange FORM 10-K _____________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO ...

Financial Performance - Net income for fiscal 2024 was $140.2 million, or $4.53 per diluted share, down from $158.7 million, or $5.16 per diluted share in fiscal 2023[3]. - Adjusted EBITDA for fiscal 2024 was $243.4 million, a decrease of 10.5% year-over-year[3]. - Income from continuing operations decreased to $52.1 million, down 6.6% from $55.8 million[18]. - Basic income per share from continuing operations was $1.72, a decrease of 6.0% from $1.83[18]. - The company reported net income of $52,066,000 for the three months ended September 30, 2024, down from $55,756,000 in the same period of 2023, a decrease of 5%[24]. - Net income for the fiscal year ended September 30, 2024, was $140,175, down from $158,611 in 2023[32]. - Adjusted EBITDA for the fiscal year ended September 30, 2024, was $243,418, compared to $272,031 in 2023[32]. Revenue and Sales - Homebuilding revenue reached $2.29 billion, up 4.3% due to a 4.8% increase in home closings to 4,450, despite a 0.5% decrease in average selling price (ASP) to $515.3 thousand[3]. - Homebuilding revenue grew to $783.8 million, a 22.1% increase from $641.8 million[18]. - Total revenue for the three months ended September 30, 2024, was $806,157,000, a 25% increase from $645,405,000 in the same period of 2023[24]. Orders and Backlog - Net new orders for fiscal 2024 were 4,221, up 9.2% from 3,866 in the previous year, with a cancellation rate of 21.9%[5][17]. - New home orders increased to 1,029 for the three months ended September 30, 2023, up 2.6% from 1,003[18]. - Cancellation rates rose to 21.9%, an increase of 540 basis points from 16.5%[18]. - Backlog units declined to 1,482, a decrease of 13.4% from 1,711[18]. - Dollar value of backlog decreased to $797.2 million, down 10.1% from $886.4 million[18]. - New orders, net of cancellations, totaled 1,029 for the three months ended September 30, 2024, compared to 1,003 in the same period of 2023, a 3% increase[27]. - The backlog units at the end of the period were 1,482, down from 1,711 in the previous year, reflecting a 13% decrease[28]. - The aggregate dollar value of the backlog was $797.2 million as of September 30, 2024, compared to $886.4 million a year earlier, a decrease of 10%[28]. Community and Closings - Active community count increased by 20.9% year-over-year to 162, contributing to a 30% growth in October sales compared to the prior year[3][4]. - Total home closings reached 1,496, representing a 21.3% increase from 1,233[18]. - Average active community count increased to 153, an 18.0% rise from 130[18]. Financial Position and Debt - Total debt to total capitalization ratio improved to 45.4% from 47.0% a year ago, while net debt to net capitalization ratio increased to 40.0% from 36.4%[12][17]. - Unrestricted cash at quarter end was $203.9 million, with total liquidity of $503.9 million, down from $610.6 million a year ago[11]. - The company aims to reduce its net debt to net capitalization ratio below 30% by the end of fiscal year 2026[12]. - The total debt as of September 30, 2024, was $1,025,349,000, compared to $978,028,000 in the previous year, indicating a 5% increase[25]. - Total debt increased to $1,025,349 for the fiscal year ended September 30, 2024, from $978,028 in 2023[34]. - The total debt to total capitalization ratio improved to 45.4% in 2024 from 47.0% in 2023[34]. - Net debt to net capitalization ratio increased to 40.0% in 2024 from 36.4% in 2023[34]. Land Acquisition and Development - Land acquisition and development spending was $776.5 million, an increase of 35.5% from $573.1 million[3][17]. - Land acquisition and development spending was $179.0 million, a decrease of 16.2% from $213.7 million[18]. Gross Profit and Margins - Homebuilding gross margin for the fourth quarter was 17.2%, down 400 basis points year-over-year, while excluding impairments, it was 20.4%, down 390 basis points[4][8]. - Homebuilding gross profit for the three months ended September 30, 2024, was $134,911, with a margin of 17.2%, compared to $135,925 and 21.2% for the same period in 2023[31]. - Homebuilding gross profit excluding inventory impairments and interest amortized to cost of sales was $159,837, representing a margin of 20.4% for the three months ended September 30, 2024[31]. Inventory and Expenses - Capitalized interest in inventory at the end of the period was $124,182,000, up from $112,580,000 in the previous year, representing a 10% increase[26]. - Inventory impairments and abandonments amounted to $1,796 for the three months ended September 30, 2024, compared to $25 in the same period of 2023[32]. - Interest amortized to home construction and land sales expenses was $23,705 for the three months ended September 30, 2024, compared to $19,919 in 2023[32]. - The company reported a decrease in expense from income taxes to $18,910 for the fiscal year ended September 30, 2024, down from $23,936 in 2023[32].

Beazer Homes USA, Inc. (BZH) is scheduled to report fourth-quarter fiscal 2024 (ended Sept. 30, 2024) results on Nov. 13, after the closing bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, Beazer Homes’ earnings per share (EPS) beat the Zacks Consensus Estimate by 4.8% but revenues missed the same by 0.6%. On a year-over-year basis, EPS of 88 cents declined from the year-ago level of $1.42. Revenues of $595.7 million increased 4% year over year. Hom ...

Analysts on Wall Street project that Beazer Homes (BZH) will announce quarterly earnings of $1.36 per share in its forthcoming report, representing a decline of 24.4% year over year. Revenues are projected to reach $774.29 million, increasing 20% from the same quarter last year.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this perio ...

Hispanolistic/E+ via Getty Images Beazer Homes USA, Inc. (NYSE:BZH) reported the company's fiscal Q3 results on the 1st of August in post-market hours, sending the stock down -13% the following day. While the Q3 financials came in as expected, the fiscal Q4 expectations were pushed down considerably from previously incredibly ambitious levels. In my previous article on the stock, "Beazer Homes Has Significant Mid-Term Targets As Revenues Gradually Improve," I remained with a Buy rating for Beazer Homes, cal ...

Core Insights - Beazer Homes USA reported revenue of $595.68 million for the June quarter, a 4% increase year-over-year, but EPS decreased to $0.88 from $1.24 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $599.12 million, resulting in a surprise of -0.57%, while EPS exceeded the consensus estimate of $0.84 by +4.76% [1] Financial Projections - Analysts have significantly reduced profit projections for Beazer Homes, with the Zacks EPS Consensus for the current fiscal year dropping from $4.64 to $4.37, indicating a 15% annual decline [2] - For the next fiscal year, EPS estimates were cut over 10% from $5.28 to $4.72 [2] Business Demand Metrics - New home orders, net of cancellations, were reported at 1,070, below the average estimate of 1,399 by two analysts [3] - Units in Backlog for Continuing Operations were reported at 1,949, compared to the average estimate of 2,258 by two analysts [3] - Analysts' pessimism may be influenced by rising recession concerns following the Sahm rule triggered by increasing unemployment data [3] Stock Performance - Beazer Homes shares experienced a strong rally of 27% in July, benefiting from small-cap stock favorability [4] - The stock is currently bouncing off support at $26, a level that has historical significance from April and November [4] - Caution is advised for investors until profit estimates stabilize [4]