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Mar 31, 2021
Beazer Homes Q2 2021 Earnings Report
Reported strong results driven by operational execution and continued strength in the housing market.
Key Takeaways
Beazer Homes reported an extraordinary second quarter, marked by significant growth in sales pace, average sales price, gross margin, and adjusted EBITDA, resulting in a doubling of quarterly net income compared to the previous year. The company also improved its balance sheet efficiency by increasing the share of lots controlled by options while continuing to reduce leverage.
Net income from continuing operations reached $24.6 million, a significant increase from $10.6 million in the prior year.
Adjusted EBITDA increased by 46.2% to $64.2 million.
Homebuilding revenue grew by 12.2% to $547.4 million, driven by increases in both average selling price and home closings.
The dollar value of homes in backlog increased by 54.9% to $1,386.4 million.
Revenue by Geographic Location
Forward Guidance
Beazer Homes expects fiscal year 2021 earnings per share to be above $3.00, driven by continued strength in new home demand and a backlog that is up more than 50% in dollar value compared to last year.
Positive Outlook
- Continued strength in new home demand
- Backlog up more than 50% in dollar value compared to last year
- Strong operational execution
- Commitment to expanding ESG program
- Balanced growth strategy
Challenges Ahead
- Cyclical nature of the homebuilding industry
- Potential deterioration in homebuilding industry conditions
- Economic changes nationally or in local markets
- Potential negative impact of the COVID-19 pandemic
- Shortages of or increased prices for labor, land or raw materials
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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