Beazer Homes Q1 FY2023 EPS $0.80; net income $24.4M; new orders drop 57.8% YoY

BEAZER HOMES USA INC

2023-Q1 EPS reported $0.80 revenue$444,928,000

Net income $24.4M ($0.80 diluted EPS) vs $34.9M ($1.14) year ago; adjusted EBITDA $47.1M, down 22.9%.
Homebuilding revenue $444.1M (flat YoY) on 833 closings (-18.3%) and ASP $533.1K (+21.6%).
Net new orders 482 (-57.8%); cancellation rate 37.1% (vs 11.8%); backlog units 1,740 (-40.2%).
Homebuilding gross margin ex-I&A and interest 22.3% (-190 bps); SG&A as % of revenue 12.3% (+50 bps).

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

BEAZER HOMES USA INC reported three months ended December 31, 2022 results: revenue $444.1 million, net income $24.4 million, EPS $0.80 per diluted share.

Period: three months ended December 31, 2022
Revenue: $444.1 million
Net income: $24.4 million
EPS: $0.80 per diluted share
Result: reported results

Exact text from the filing

from continuing operations of $34.9 million, or $1.14 per diluted share, in fiscal first quarter 2022 • Adjusted EBITDA of $47.1 million, down 22.9% • Homebuilding revenue of $444.1 million, down 0.6% on a 18.3% decrease in home closings to 833, partially offset by a 21.6% increase in average selling price to $533.1 thousand • Homebuilding gross margin was 19.2%,

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Source: SEC EDGAR

accession 0000915840-23-000007

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