NYSE$BZH

Beazer Homes USA Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Beazer Homes' first quarter of fiscal year 2020 was marked by increased home sales and improved gross margins, driven by strong consumer demand and efforts to enhance profitability.

Beazer Homes reported a 4.1% increase in homebuilding revenue, driven by a 2.7% increase in home closings and a 1.4% increase in average selling price. Adjusted EBITDA increased by 9.4%.

  • Net income from continuing operations was $2.8 million.
  • Adjusted EBITDA increased by 9.4% to $29.4 million.
  • Homebuilding revenue rose by 4.1% to $417.4 million.
  • Unit orders increased by 28.2% to 1,251.

Headline financials

Total Revenue

$418M

Previous: $402M+3.9%
EPS (adj)

$0.09

Previous: $0.25-64.0%
Average Selling Price from Closings

$375K

Previous: $370K+1.4%
Net New Orders

1.3K

Previous: 976+28.2%
Orders per Community per Month

2.5

Previous: 2+25.0%
Cancellation Rate

14.9%

Previous: 19.8%-24.7%
Homebuilding Gross Margin

15.1%

No prior period
Capital Expenditures

-$2.63M

Previous: -$6.35M+58.6%
Free Cash Flow

$114K

Previous: $957K-88.1%
Net Income

$2.75M

Previous: $7.31M-62.4%
Operating Income

$3.95M

Previous: $3.51M+12.5%
Gross Profit

$63.1M

Previous: $60.7M+4.1%
Cash & Equivalents

$41.3M

No prior period
Total Assets

$1.97B

No prior period
Stock-Based Comp

$2.31M

No prior period

Revenue & EPS history

Beazer Homes · Revenue · Quarterly

$418M

Q1 2020+3.9%vs Q1 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Beazer Homes · $418M total across 2 segments · Q1 2020

  • Homebuilding Revenue
    $417M+4.1%
  • Land Sales and Other
    $405K-61.7%

Forward guidance

Beazer Homes is focused on delivering 'extraordinary value at an affordable price' and remains confident in improving profitability and returns while reducing debt.

Tailwinds

  • Efforts to drive increases in profitability and returns.
  • Focus on first time and downsizing buyers.
  • Positioning Gatherings for continued growth in fiscal 2020.
  • Confident in reaching Fiscal 2020 goals.
  • Focus on delivering affordable new homes.

Headwinds

  • Cyclical nature of the homebuilding industry.
  • Potential deterioration in homebuilding industry conditions.
  • Economic changes nationally or in local markets.
  • Shortages of or increased prices for labor, land or raw materials used in housing production.
  • Increased competition or delays in reacting to changing consumer preferences in home design.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-0.6%

Avg return

Earnings day

+0.0%

Avg return

5 days after

+3.1%

Avg return

30 days after

47%

30 / 64 earnings

Positive

+27.0%

Q2 2023

Best reaction

-20.0%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-3.9%-12.4%+17.0%
Q1 2026-10.9%+1.4%+5.7%
Q4 2025+1.7%-7.4%+5.5%
Q2 2025+8.6%+7.6%+5.1%
Q1 2025-20.0%-20.9%-19.5%
Q4 2024+8.0%+1.8%-4.2%
Q3 2024-15.1%-18.9%-7.1%
Q2 2024-3.6%+1.1%+2.5%
Q1 2024-6.1%-8.3%+1.5%
Q4 2023-10.9%-12.1%+3.0%
Q3 2023+26.6%+23.1%-1.6%
Q2 2023+27.0%+12.1%+24.1%
Q1 2023-7.1%-5.7%-6.5%
Q4 2022+18.1%+14.6%+21.7%
Q3 2022-3.7%-6.7%-4.3%
Q2 2022+2.0%+4.9%+8.2%
Q1 2022-3.1%-1.9%-10.5%
Q4 2021+10.6%+10.3%+20.7%
Q3 2021+4.5%+0.9%+8.6%
Q2 2021+4.3%+15.8%+11.3%
Q1 2021-10.2%-4.1%-4.5%
Q4 2020+3.3%+0.4%+8.0%
Q3 2020-1.7%-1.6%+11.0%
Q2 2020-3.2%-2.2%+35.8%
Q1 2020-17.2%-22.4%-26.2%
Q4 2019+8.4%+8.5%+6.7%
Q3 2019-2.4%-3.7%+6.9%
Q2 2019-8.1%-20.0%-33.3%
Q1 2019-2.7%-11.2%-9.8%
Q4 2018+22.6%+23.1%+28.4%
Q3 2018-5.0%-3.5%-4.7%
Q2 2018+5.6%+8.4%-0.7%
Q1 2018+0.4%-12.4%-5.9%
Q4 2017+3.2%-1.7%-10.0%
Q3 2017+13.1%+16.5%+12.4%
Q2 2017+8.5%+20.1%+4.5%
Q1 2017-6.8%-6.4%-14.1%
Q4 2016+4.7%+13.5%+18.3%
Q3 2016+4.1%+1.0%+15.6%
Q2 2016-17.1%
Q1 2016-17.7%
Q4 2015+9.8%
Q3 2015-10.4%
Q2 2015+2.8%
Q1 2015-16.7%
Q4 2014-3.0%
Q3 2014-6.0%
Q2 2014+5.2%
Q1 2014-2.0%
Q4 2013+5.9%
Q3 2013-1.0%
Q2 2013+15.2%
Q1 2013+2.7%
Q4 2012-16.6%
Q3 2012+5.6%
Q2 2012-12.6%
Q1 2010+13.6%
Q1 2012+2.4%
Q4 2011-2.7%
Q3 2011-16.5%
Q3 2010-16.5%
Q2 2011-1.7%
Q4 2010+7.4%
Q2 2010-11.6%

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