Beazer Homes Q1 FY2024 net income $21.7M ($0.70 EPS), down from $0.80; revenue $380.9M, down 14.2%

BEAZER HOMES USA INC

2024-Q1 EPS reported $0.70 revenue$386,818,000

Net income $21.7M ($0.70 diluted EPS) vs $24.4M ($0.80) a year ago; adjusted EBITDA $38.0M, down 19.4%.
Homebuilding revenue $380.9M (-14.2%); closings 743 (-10.8%); ASP $512.7k (-3.8%); gross margin (ex-items) 22.9% (+60 bps).
Net new orders 823, up 70.7%; sales pace 2.0/community/month (from 1.3); community count up 13.5% to 137.
Backlog value $932.8M, flat; cancellation rate fell to 19.0% from 37.1%.
Cybersecurity incident at title insurer delayed some closings; all completed by mid-January; operations normal.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BEAZER HOMES USA INC reported the three months ended December 31, 2023 results: revenue $380.9 million, net income $21.7 million, EPS $0.70 per diluted share.

Period: the three months ended December 31, 2023
Revenue: $380.9 million
Net income: $21.7 million
EPS: $0.70 per diluted share
Result: reported results

Exact text from the filing

from continuing operations of $24.4 million, or $0.80 per diluted share, in fiscal first quarter 2023 • Adjusted EBITDA of $38.0 million, down 19.4% • Homebuilding revenue of $380.9 million, down 14.2% on a 10.8% decrease in home closings to 743 and a 3.8% decrease in average selling price (ASP) to $512.7 thousand • Homebuilding gross margin was 19.9%, up 70 basis

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accession 0000915840-24-000013

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