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Dec 31, 2020
Beazer Homes Q1 2021 Earnings Report
Beazer Homes experienced strong operational and financial results, driven by increased sales pace and profitability improvements.
Key Takeaways
Beazer Homes reported a strong first quarter with significant increases in net income, adjusted EBITDA, and new orders. The company saw improvements in gross margin and overhead cost efficiency, contributing to higher profitability. They are focusing on growth and ESG initiatives to create long-term value.
Net income from continuing operations increased to $12.0 million from $2.8 million in Q1 2020.
Adjusted EBITDA rose by 48.5% to $43.6 million.
Homebuilding revenue increased by 1.6% to $424.2 million, driven by higher average selling prices and home closings.
Net new orders increased by 15.3% to 1,442, with a significant rise in orders per community per month.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Beazer Homes anticipates substantial growth in book value and continued leverage reduction, supported by strong Q1 results, a healthy demand environment, and a significant increase in the dollar value of backlog.
Positive Outlook
- Strong Q1 results provide a solid foundation for the fiscal year.
- Healthy demand environment supports continued growth.
- Dollar value of backlog up nearly 60% year-over-year indicates future revenue potential.
- Focus on ESG initiatives positions the company for durable value creation.
- Commitment to Net Zero Energy Ready homes by 2025 enhances market leadership.
Challenges Ahead
- Cyclical nature of the homebuilding industry poses inherent risks.
- Economic changes and consumer confidence can impact demand.
- COVID-19 pandemic may introduce uncertainties and operational challenges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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