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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