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Sep 30, 2020
Beazer Homes Q4 2020 Earnings Report
Reported strong fourth quarter and full fiscal year 2020 results.
Key Takeaways
Beazer Homes reported a decrease in homebuilding revenue for the fourth quarter, driven by lower home closings, but net new orders increased due to high demand. The company's backlog dollar value increased significantly, and they maintained a strong liquidity position.
Net income from continuing operations was $24.6 million.
Homebuilding revenue decreased by 12.2% to $679.1 million.
Net new orders increased by 37.8% to 2,009.
The dollar value of homes in backlog increased by 49.6% to $995.3 million.
Beazer Homes
Beazer Homes
Beazer Homes Revenue by Segment
Revenue by Segment
Homebuilding Revenue
CapyFin.comLand Sales and Other Revenue
CapyFin.com Forward Guidance
Beazer Homes expects double-digit growth in earnings per share in fiscal year 2021, despite a short-term reduction in community count.
Positive Outlook
- Dollar value of backlog is nearly 50% higher than last year.
- Expectations for substantially lower interest expense.
- Increased land and development spending during 2021.
- Anticipated increase in the number of lots owned or controlled through options by year-end.
- Positioned for top and bottom line growth in the years ahead
Challenges Ahead
- Short-term reduction in community count.
- Potential impact of the COVID-19 pandemic.
- Shortages of or increased prices for labor, land, or raw materials.
- Increased competition or delays in reacting to changing consumer preferences.
- governmental regulations limiting the availability of water
Revenue & Expenses
Visualization of income flow from segment revenue to net income