earnings
confidence high
sentiment positive
materiality 0.75
Beazer Q2 EPS $1.45, adj EBITDA $77.4M; guides FY EPS at least $6; acquires Imagine Homes
BEAZER HOMES USA INC
2022-Q2 EPS reported
$2.59
revenue$962,655,000
- Net income from continuing ops $44.7M ($1.45 diluted EPS) vs $24.6M ($0.81) YoY; adjusted EBITDA $77.4M, up 20.5%.
- Homebuilding revenue $507.2M (-7.3% YoY); closings down 22.3% to 1,078; ASP up 19.3% to $470.5k; gross margin (excl I&A) 26.8%, up 460bps.
- Net new orders 1,291 (-30.4% YoY); backlog dollar value $1.58B (+14.2%); avg selling price in backlog $507.4k (+20.9%).
- FY2022 EPS guidance at least $6.00 (incl $0.40 tax benefit); expects debt below $1B by year-end.
- Acquired substantially all assets of Imagine Homes (San Antonio); terms undisclosed; Beazer previously held 1/3 stake.