Overview
Beazer Homes fiscal Q3 net loss from continuing operations, adjusted EBITDA missed estimates
Homebuilding revenue down 9.2% yr/yr, driven by decline in home closings
Co repurchased $12.5 mln of outstanding common stock, reflecting strategic capital allocation
Outlook
Beazer Homes aims for 200 active communities by fiscal 2027
Company targets net debt to net capitalization ratio in low 30% range by 2027
Beazer Homes expects double-digit growth in book value per share by 2027
Company remains optimistic about growth opportunities in energy-efficient homes
Result Drivers
COMMUNITY GROWTH - Double-digit growth in community count helped offset weaker sales pace, particularly in Texas
GROSS MARGINS - Resilient gross margins supported results despite inventory impairment and abandonment charges
SALES PACE - Weaker-than-expected sales pace impacted revenue, especially in Texas markets
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Homebuilding Revenue | $535.40 mln | ||
Q3 Adjusted EBITDA | Miss | $32.10 mln | $38.10 mln (5 Analysts) |
Q3 Homebuilding Gross Margin | 13.5% | ||
Q3 Homebuilding Adj. Gross Margin | 15.2% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the homebuilding peer group is "hold."
Wall Street's median 12-month price target for Beazer Homes USA Inc is $32.00, about 26.8% above its July 30 closing price of $23.42
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 5 three months ago
Press Release: ID:nBw9BvzsFa
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)