Beazer Homes (BZH) came out with quarterly earnings of $1.26 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 38.46%. A quarter ago, it was expected that this homebuilder would post earnings of $0.71 per share when it actually produced earnings of $0.70, delivering a surprise of -1.41%.Over the last four quarters, the company ...

Non-GAAP Homebuilding Gross Margin | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------|-------|----------------------------|------------------------------|-------|------------------------------------------|-------|-------|-------------------------------------------------------------------------|--------------------------------------------|-------|------------------------------------------|--------|----------------------------------------- ...

Debt and Financial Obligations - As of March 31, 2024, the company had variable rate debt outstanding totaling approximately $75.4 million, with a potential interest expense increase of approximately $1.0 million for a one percent rise in interest rates[32]. - The estimated fair value of the company's fixed-rate debt was $959.0 million, compared to a carrying amount of $947.9 million, with a hypothetical one-percentage point decrease in discount rates increasing the fair value to $1.00 billion[32]. - The company reported a total debt of $1.02 billion as of March 31, 2024, an increase from $978.03 million as of September 30, 2023[75]. - The total debt, net of unamortized debt issuance costs, was $1,023,311,000 as of March 31, 2024, compared to $978,028,000 as of September 30, 2023, indicating an increase of about 4.6%[133]. - The company had letters of credit outstanding of $34.8 million as of March 31, 2024, up from $31.2 million as of September 30, 2023[135]. - The company repurchased $4.3 million of its outstanding 2025 Notes, resulting in a loss on extinguishment of debt of less than $0.1 million[138]. - In March 2024, the company redeemed the remaining $197.9 million of its outstanding 2025 Notes, incurring a loss on extinguishment of debt of $0.4 million[138]. - The company has terminated all obligations under the 2025 Notes as of March 31, 2024[138]. - The company issued $250.0 million aggregate principal amount of the 2031 Notes at par, with interest payable semiannually starting September 2024[165]. - The company's unsecured junior subordinated notes have an aggregate principal balance of $100.8 million as of March 31, 2024, with a weighted-average interest rate of 8.03%[168]. Revenue and Income - The company reported a net income of $60.9 million for the six months ended March 31, 2024[59]. - Total revenue for the three months ended March 31, 2024, was $541.54 million, a decrease of 0.25% from $543.91 million in the same period of 2023[77]. - Gross profit for the three months ended March 31, 2024, was $101.85 million, compared to $102.90 million in the prior year, reflecting a slight decline of 1.03%[77]. - Net income for the three months ended March 31, 2024, was $39.17 million, an increase of 12.14% from $34.71 million in the same period of 2023[77]. - Homebuilding revenue for the six months ended March 31, 2024, was $538,636,000, a slight decrease from $542,007,000 for the same period in 2023, representing a decline of approximately 0.7%[116]. - Total revenue for the six months ended March 31, 2024, was $541,540,000, compared to $543,908,000 for the same period in 2023, indicating a decrease of about 0.4%[116]. - Total revenue for the six months ended March 31, 2024, was $928,358 thousand, down from $988,836 thousand in the same period of 2023, reflecting a decrease of 6.1%[212]. Assets and Inventory - Total assets as of March 31, 2024, amounted to $2.52 billion, up from $2.41 billion as of September 30, 2023, indicating a growth of 4.3%[75]. - Owned inventory as of March 31, 2024, was $2.06 billion, up from $1.76 billion as of September 30, 2023, indicating a growth of 17.1%[75]. - Total owned inventory as of March 31, 2024, was $2,057,461,000, an increase from $1,756,203,000 as of September 30, 2023, representing a rise of about 17.1%[126]. - The company had 2,829 homes under construction as of March 31, 2024, an increase from 2,163 homes under construction as of September 30, 2023, reflecting a growth of 30.8%[95]. - Homes under construction increased to 851,278 as of March 31, 2024, compared to 644,363 as of September 30, 2023, reflecting a growth of approximately 32%[122]. Shareholder Returns and Repurchases - The company has a share repurchase program with $41.8 million remaining for repurchases as of March 31, 2024, with no repurchases made during the three and six months ended March 31, 2024[44]. - The company has $41.8 million remaining under its share repurchase program approved in May 2022, with no repurchases made during the three and six months ended March 31, 2024, and 2023[65]. - There were no dividends paid during the three and six months ended March 31, 2024, consistent with the previous year[45]. Operating Performance - Total operating income for the six months ended March 31, 2024, is $56,256,000, down from $67,294,000 in the same period of 2023[190]. - Operating income for the West segment in 2024 is $46,030,000, slightly up from $45,513,000 in 2023[190]. - SG&A expenses for the quarter were 11.5% of total revenue, up from 11.2% in the prior year quarter, primarily due to higher sales and marketing costs[221]. Tax and Compliance - Income tax expense from continuing operations for the three months ended March 31, 2024, is $6.7 million, an increase from $5.1 million in the same period of 2023[182]. - The effective tax rate for the three months ended March 31, 2024, increased to 14.7% from 12.8% in the prior year[223]. - The company is currently evaluating the impact of the new ASU 2023-09 on its consolidated financial statements and disclosures, which will enhance transparency in income tax disclosures[92]. - The company is currently evaluating the impact of the adoption of ASU 2023-07 on its consolidated financial statements and disclosures, which will be effective for the fiscal year ending September 30, 2025[118]. Risk Management and Litigation - The company has an accrual of $8.8 million related to litigation matters as of March 31, 2024[150]. - The company maintains warranty and litigation accruals and third-party insurance to cover potential liabilities associated with known and anticipated claims[148]. - Warranty provision for the three months ended March 31, 2024, is $2,208,000, compared to $2,335,000 for the same period in 2023[176]. - The balance of warranty reserves at the end of the period is $12,129,000, down from $13,073,000 in the previous year[176]. Market and Community Development - The company controlled 26,887 lots as of March 31, 2024, with 51.6% of active lots (13,527) managed through option agreements, a decrease from 54.0% in the previous year[46]. - The company controlled 26,887 lots as of March 31, 2024, representing a 12.9% increase from 23,820 lots a year ago[195]. - Average active community count increased by 13.8% to 140 during the quarter ended March 31, 2024, with 145 active communities at the end of the quarter, up 19.8% from 121 a year ago[218]. - The company invested $197.8 million in land acquisition and development during the quarter ended March 31, 2024, a 75.0% increase from $113.0 million in the same quarter of 2023[218]. - The company continues to refine its product offerings to address home affordability concerns by adjusting home sizes and specifications[194]. Compensation and Employee Expenses - The company’s stock-based compensation expense for the same period was $3.1 million[59]. - Stock-based compensation expense for the three months ended March 31, 2023, was $3,062, slightly down from $3,258 in the same period last year, showing a decrease of 6.0%[82]. - The company recognized stock-based compensation expense of $1,389,000 for the three months ended March 31, 2024, compared to $1,678,000 for the same period in 2023[184]. - Total unrecognized compensation costs related to unvested restricted stock awards were $10.5 million as of March 31, 2024[185]. Cash Flow and Capital Expenditures - Total cash, cash equivalents, and restricted cash at the end of the period was $165,394, down from $279,150 at the end of the previous year, indicating a decrease of 40.7%[82]. - Net cash used in operating activities for the three months ended March 31, 2023, was $(239,573), compared to $40,268 in the same period last year, indicating a significant decline[82]. - The company reported capital expenditures of $(11,501) for the three months ended March 31, 2023, compared to $(7,824) in the same period last year, representing an increase of 47.3%[82]. - Total capital expenditures for the six months ended March 31, 2024, were $11,501 thousand, a 47.3% increase from $7,824 thousand in the same period of 2023[192].

Beazer Homes Reports Second Quarter Fiscal 2024 Results "Beazer delivered another successful quarter with strong sales, solid margins and growth in both our community count and our lot position," said Allan P. Merrill, the company's Chairman and Chief Executive Officer. "The combination of these factors and our careful management of overheads enabled us to generate nearly $59 million in adjusted EBITDA." Looking further out, Mr. Merrill concluded, "We remain optimistic for the years ahead given the persiste ...

In the constantly shifting stock market, some chances stand out as signs of future success. Three stocks provide exceptional chances for vital value growth.The first company has significantly increased net new orders, demonstrating its sales tactics and market positioning efficacy. The second one represents resilience and innovation in the entertainment sector. With that, it emphasizes financial fortification and the growth of its direct-to-consumer (DTC) segment.In the meantime, the third company’s steady ...

In the latest market close, Beazer Homes (BZH) reached $30.86, with a -0.45% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.11%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.24%.The the stock of homebuilder has risen by 1.11% in the past month, lagging the Construction sector's gain of 1.42% and overreaching the S&P 500's gain of 0.48%.Analysts and investors alike will be keeping a close eye on the performance of Beazer Homes in its upcoming ...

Key PointsBeazer Homes has undergone a successful turnaround, demonstrating improved profitability and strategic positioning for future growth.Despite its improving fundamentals, Beazer Homes trades at a significant discount compared to peers, creating a potential value opportunity.Catalysts like debt reduction, growth markets, interest rates, and pent-up housing demand could fuel further recovery and share price appreciation for Beazer Homes.5 stocks we like better than Beazer Homes USAThe homebuilding ind ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?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 recommendati ...

Beazer Homes (BZH) closed at $29.44 in the latest trading session, marking a -0.51% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.82%.Prior to today's trading, shares of the homebuilder had gained 0.75% over the past month. This has lagged the Construction sector's gain of 5.28% and the S&P 500's gain of 1.76% in that time.Analysts and investors alike will ...

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 ...