Beazer Homes (BZH) Tops Q2 EPS by 6c

Beazer Homes (NYSE: BZH) reported Q2 EPS of ($0.08), $0.06 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $299.36 million versus the consensus estimate of $293.56 million.

New home orders grew 22.2 percent for the quarter with an average active community count that was 14.3 percent higher than a year ago. Absorption rates were especially strong at 3.5 sales per community per month for the quarter, while the average selling price (“ASP”) from closings increased 12.3 percent to $305.8 thousand, the highest ASP for any quarter in the Company’s history. Backlog at March 31, 2015 consisted of 2,533 homes with a value of $814.1 million, up 27.8 percent versus last yea

“We are encouraged by the solid start to the spring selling season,” said Allan Merrill, CEO of Beazer Homes. “Driven by job growth, strong affordability and low inventory levels, the selling environment during our fiscal second quarter reflected an improvement in homebuyer demand. With our substantially larger backlog, stable gross margins and fixed cost leverage, we expect to achieve a $20 million improvement in Adjusted EBITDA for fiscal 2015 versus last year, excluding certain unexpected warranty and litigation settlement costs.”

For earnings history and earnings-related data on Beazer Homes (BZH) click here.

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