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Mar 31, 2023
Beazer Homes Q2 2023 Earnings Report
Generated strong second quarter results amidst improving homebuyer confidence and stabilizing interest rates.
Key Takeaways
Beazer Homes reported a net income of $34.7 million, or $1.13 per diluted share, and adjusted EBITDA of $62.1 million for the second quarter of fiscal year 2023. Homebuilding revenue increased by 6.9% to $542.0 million, driven by an 8.4% increase in average selling price, while home closings decreased slightly by 1.4%.
Net income from continuing operations was $34.7 million, or $1.13 per diluted share.
Adjusted EBITDA was $62.1 million, down 19.7%.
Homebuilding revenue increased by 6.9% to $542.0 million.
Net new orders decreased by 8.5% to 1,181.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Beazer Homes remains confident in the multi-year growth of its business and the new home industry, citing a significant gap between structural demand and likely supply.
Positive Outlook
- Seasoned operating team
- Ample supply of lots
- More efficient and less leveraged balance sheet
- Improving homebuyer confidence
- Stabilizing interest rates
Challenges Ahead
- Home affordability remains quite challenging
- Higher interest rate environment
- Decrease in sales pace
- Lower gross margin
- Decrease in net new orders
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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