Beazer Q2 net income $39.2M ($1.26 diluted); orders up 10%, community count up 14%

BEAZER HOMES USA INC

2024-Q2 EPS reported $1.96 revenue$928,358,000

Net income from continuing ops $39.2M vs $34.7M YoY; diluted EPS $1.26 vs $1.13.
Adjusted EBITDA $58.8M, down 5.4%; homebuilding revenue $538.6M, down 0.6%.
Net new orders 1,299 (+10%); average community count 140 (+13.8%); backlog $1.08B (+8.9%).
Issued $250M 7.500% notes due 2031 to redeem $197.9M of 6.750% notes due 2025; extended revolver to 2028.
Land spend $197.8M (+75%); total liquidity $432.9M; debt-to-capital ratio 46.8% (down 290 bps YoY).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.4

BEAZER HOMES USA INC reported three and six months ended March 31, 2024 results: revenue $538.6 million, net income $39.2 million, EPS $1.26 per diluted share.

Period: three and six months ended March 31, 2024
Revenue: $538.6 million
Net income: $39.2 million
EPS: $1.26 per diluted share
Result: reported results

Exact text from the filing

from continuing operations of $34.7 million, or $1.13 per diluted share, in fiscal second quarter 2023 • Adjusted EBITDA was $58.8 million, down 5.4% • Homebuilding revenue was $538.6 million, down 0.6% on a 1.8% decrease in home closings to 1,044, partially offset by a 1.2% increase in average selling price (ASP) to $515.9 thousand • Homebuilding gross margin was

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Source: SEC EDGAR

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