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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%.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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