Beazer Homes (BZH) Surpasses Q3 Earnings Estimates

Core Insights - Beazer Homes (BZH) reported quarterly earnings of $0.88 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, but down from $1.24 per share a year ago, indicating an earnings surprise of 4.76% [1] - The company posted revenues of $595.68 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.57%, compared to $572.54 million in the same quarter last year [2] - Beazer has surpassed consensus EPS estimates three times over the last four quarters, but has only topped revenue estimates once in the same period [2] Future Outlook - The immediate price movement of Beazer's stock will largely depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - Current consensus EPS estimate for the upcoming quarter is $1.83 on revenues of $910.94 million, and for the current fiscal year, it is $4.64 on revenues of $2.44 billion [7] - The estimate revisions trend for Beazer is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Building Products - Home Builders industry, to which Beazer belongs, is currently ranked in the top 14% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]