Beazer Homes Q3 net income $43.8M (-19% YoY); adjusted EBITDA $72.8M; orders up 30%

BEAZER HOMES USA INC

2023-Q3 EPS reported $3.36 revenue$1,561,380,000

Net income from continuing ops $43.8M ($1.42 diluted EPS) vs $54.3M ($1.76) in prior year quarter.
Adjusted EBITDA $72.8M, down 17.5% YoY; homebuilding gross margin (ex I&A and interest) 23.4%, down 470 bps.
Homebuilding revenue $570.5M, up 9.0% on 7.1% more closings (1,117) and 1.8% higher ASP ($510.8K).
Net new orders 1,200 (+29.7% YoY); order pace 3.2 per community per month (+28.3%); cancellation rate 16.1% down from 17.0%.
Backlog $1.0B (1,941 homes), down 36.4% but growing for two consecutive quarters; total liquidity $541.1M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BEAZER HOMES USA INC reported three months ended June 30, 2023 results: revenue $570.5 million, net income $43.8 million, EPS $1.42 per diluted share.

Period: three months ended June 30, 2023
Revenue: $570.5 million
Net income: $43.8 million
EPS: $1.42 per diluted share
Result: reported results

Exact text from the filing

Net income from continuing operations of $43.8 million, or $1.42 per diluted share, compared to net income from continuing operations of $54.3 million, or $1.76 per diluted share, in fiscal third quarter 2022 • Adjusted EBITDA of $72.8 million, down 17.5% • Homebuilding revenue of $570.5 million, up 9.0% on a 7.1% increase in home closings to 1,117 and a 1.8% increase in average selling price to $510.8 thousand

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Source: SEC EDGAR

accession 0000915840-23-000025

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