earnings
confidence high
sentiment neutral
materiality 0.75
Beazer Homes Q3 EPS $1.76 vs $1.22 YoY; orders down 23% on rate headwinds; FY22 EPS guide $6.50
BEAZER HOMES USA INC
2022-Q3 EPS reported
$4.35
revenue$1,489,321,000
- Net income $54.3M ($1.76 diluted EPS) vs $37.1M ($1.22) prior year; adjusted EBITDA $88.2M +11.9%.
- Homebuilding revenue $523.2M (-7.7%) with closings down 24.3% to 1,043; ASP up 21.9% to $501.7k.
- Homebuilding gross margin ex-items 28.1% (+390 bps); net new orders 925 (-22.9%); cancellation rate 17% vs 10.9%.
- Backlog value $1.588B (+17.2%); FY2022 EPS guidance ~$6.50 including $0.40 tax benefit; expects debt below $1B by year end.
- Repurchased $2.5M shares and $1.7M of 6.750% Senior Notes during the quarter.