Loading...
•
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.
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 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