earnings
confidence high
sentiment positive
materiality 0.75
Beazer Q1 net income more than doubles to $34.9M; raises FY EPS guidance above $5.00
BEAZER HOMES USA INC
2022-Q1 EPS reported
$1.14
revenue$454,149,000
- Net income from continuing ops $34.9M ($1.14 diluted EPS) vs $12.0M ($0.40) YoY.
- Homebuilding revenue $446.7M, up 5.3%; ASP up 15.1% to $438.4k; closings down 8.5% to 1,019.
- Homebuilding gross margin (ex-I&A and interest) 24.2%, up 210 bps; SG&A as % of revenue down 90 bps to 11.8%.
- Adjusted EBITDA $61.1M, up 40.1%; net new orders 1,141, down 20.9% on fewer communities.
- FY 2022 EPS target raised above $5.00, plus $0.40 from energy tax credits; expects debt below $1B.