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Jun 30, 2020
Beazer Homes Q3 2020 Earnings Report
Reported strong results driven by improvements in home closings and margins.
Key Takeaways
Beazer Homes reported a strong third quarter with improvements in home closings and margins, leading to substantial profitability improvements. The company experienced a surge in demand after difficult sales conditions in April, culminating in the best June sales month in more than ten years.
Net income from continuing operations was $15.3 million, compared to $11.6 million in the same quarter last year.
Adjusted EBITDA increased by 39.6% to $54.0 million.
Homebuilding revenue rose by 10.4% to $532.5 million, driven by a 7.6% increase in home closings and a 2.6% increase in average selling price.
Homebuilding gross margin improved by 210 basis points to 17.0%.
Beazer Homes
Beazer Homes
Beazer Homes Revenue by Geographic Location
Revenue by Geographic Location
West Region Revenue
CapyFin.comEast Region Revenue
CapyFin.comSoutheast Region Revenue
CapyFin.com Forward Guidance
The company is optimistic about new home demand and their ability to execute on their Balanced Growth strategy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income