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Mar 31, 2024
Beazer Homes Q2 2024 Earnings Report
Beazer Homes delivered a successful quarter with strong sales and solid margins.
Key Takeaways
Beazer Homes reported strong sales, solid margins, and growth in community count and lot position for Q2 2024. Net income was $39.2 million, or $1.26 per diluted share. Homebuilding revenue was $538.6 million, a slight decrease of 0.6%.
Net income from continuing operations was $39.2 million, or $1.26 per diluted share, compared to $34.7 million, or $1.13 per diluted share, in Q2 2023.
Homebuilding revenue was $538.6 million, down 0.6% year-over-year.
Net new orders were 1,299, up 10.0% driven by a 13.8% increase in average community count.
Backlog dollar value was $1.08 billion, up 8.9%.
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
The company is on track to achieve full year profitability and double-digit return on equity goals for the fiscal year.
Positive Outlook
- Relatively strong economy
- Lack of resale inventory
- Further growth in community count
- Reductions in leverage
- Full implementation of Zero Energy Ready program
Challenges Ahead
- Affordability remains challenging
- Recent increase in mortgage rates
- Cyclical nature of the homebuilding industry
- Deterioration in homebuilding industry conditions
- Economic changes nationally and in local markets
Revenue & Expenses
Visualization of income flow from segment revenue to net income