December 18, 2024 5:08 pm

Beazer swings to a profit in fiscal Q2

Closings, orders and backlog all rise as deleveraging plan stays on course.

BUILDER

Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) today announced its financial results for the three and six months ended March 31, 2018.

Beazer Homes Fiscal Second Quarter 2018 Highlights and Comparison to Fiscal Second Quarter 2017

Net income from continuing operations of $11.6 million, compared to net loss of $7.5 million in Fiscal 2017
Adjusted EBITDA of $39.5 million, up 19.1%
Home building revenue of $441.1 million, up 4.6%, on a 2.2% increase in home closings to 1,266 and a 2.3% increase in average selling price to $348.4 thousand
Home building gross margin was 16.9%, up 90 basis points. Excluding impairments, abandonments and interest amortized, home building gross margin was 21.3%, up 60 basis points
SG&A as a percentage of total revenue was 12.8%, down 50 basis points
Unit orders of 1,679, up 8.4% on a 10.3% increase in sales/community/month to 3.7 and a 1.7% decline in average community count to 151
Dollar value of backlog of $885.4 million, up 14.0%
Unrestricted cash at quarter end was $158.8 million

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May 3, 2018

Beazer Homes

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