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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.
Beazer Homes
Beazer Homes
Beazer Homes Revenue by Segment
Beazer Homes Revenue by Geographic Location
Revenue by Segment
Homebuilding Revenue
CapyFin.comLand Sales and Other Revenue
CapyFin.comRevenue by Geographic Location
West Region Revenue
CapyFin.comEast Region Revenue
CapyFin.comSoutheast Region Revenue
CapyFin.com 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.
- Shortages or increased prices of labor, land, or raw materials could affect profitability.
- Delays in obtaining necessary permits due to regulatory changes may increase costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income