earnings
confidence high
sentiment negative
materiality 0.75
Beazer Homes FY2023 EPS $5.16, revenue down 4.5%; Q4 orders surge 42.5% but margins compress
BEAZER HOMES USA INC
2023-FY EPS reported
$5.16
revenue$2,206,785,000
- FY2023 net income $158.7M ($5.16 diluted EPS) vs $220.7M ($7.17) prior year; Adj. EBITDA $272M, down 26.5%.
- Q4 net income $55.8M ($1.80 diluted) vs $86.8M; homebuilding revenue $641.8M, down 22.2% on 23.7% fewer closings.
- Q4 net orders up 42.5% to 1,003; cancellation rate fell to 16.5% from 32.8%; avg community count 130 (+5.7%).
- Homebuilding gross margin (ex I&A and amortized interest) 23.1% FY (down 320 bps), 24.3% Q4 (down 160 bps).
- Total debt to cap 47.0% vs 51.1% a year ago; repurchased $9.0M of debt in FY; Oct credit facility raised to $300M.