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Jun 30, 2023
Beazer Homes Q3 2023 Earnings Report
Beazer Homes reported strong third quarter results driven by an improved sales pace, higher backlog conversion, and lower sales concessions.
Key Takeaways
Beazer Homes reported a net income of $43.8 million, or $1.42 per diluted share, and homebuilding revenue of $570.5 million, up 9.0% year-over-year. Net new orders increased by 29.7% to 1,200, and adjusted EBITDA was $72.8 million.
Net income from continuing operations was $43.8 million, or $1.42 per diluted share, compared to $54.3 million, or $1.76 per diluted share, in the prior year.
Homebuilding revenue increased by 9.0% to $570.5 million, driven by a 7.1% increase in home closings and a 1.8% increase in average selling price.
Net new orders rose by 29.7% to 1,200, with orders per community per month increasing by 28.3% to 3.2.
The dollar value of homes in backlog was $1.0 billion, down 36.4%, while backlog units decreased by 35.4% to 1,941.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Company remains confident in the multi-year outlook for our Company and industry. Powerful demographic trends and a persistent undersupply of homes should provide support for new home sales, even when we encounter more challenging economic conditions.
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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