NYSE$BZH
Beazer Homes USA Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported strong first quarter results driven by significant gains in operating margin and adjusted EBITDA.
Beazer Homes reported a strong first quarter with net income more than doubling compared to the prior year. The company's performance was driven by gains in operating margin and adjusted EBITDA. They expect full-year results to exceed the previously communicated target of $5.00 EPS.
- Net income from continuing operations was $34.9 million, or $1.14 per diluted share, compared to $12.0 million, or $0.40 per diluted share, in fiscal first quarter 2021.
- Adjusted EBITDA of $61.1 million, up 40.1%.
- Homebuilding revenue of $446.7 million, up 5.3% on a 15.1% increase in average selling price to $438.4 thousand, partially offset by a 8.5% decrease in home closings to 1,019.
- Homebuilding gross margin was 20.9%, up 330 basis points.
Headline financials
Revenue & EPS history
Beazer Homes · Revenue · Quarterly
$454M
Revenue by segment
Beazer Homes · $454M total across 2 segments · Q1 2022
- Homebuilding Revenue$447M+5.3%98.4%
- Land Sales and Other$7.42M+72.2%1.6%
Forward guidance
The new home market continues to be characterized by strong demand and limited supply, supported by growth in both employment and wages. Given this backdrop, the strength in our first quarter results and the visibility we have into our backlog, we are confident our full-year results will exceed our previously communicated target of $5.00 despite continuing industry-wide challenges in labor and material availability. Incrementally, we plan to realize full-year energy efficiency tax credits which should add about $0.40 to earnings. We also expect further growth in our active lot position as we achieve our multi-year goal of reducing total debt below $1 billion during the fiscal year.
Tailwinds
- Strong demand in the new home market.
- Limited supply supporting market conditions.
- Growth in employment and wages boosting demand.
- Expect full-year results to exceed the previously communicated target of $5.00 EPS.
- Plan to realize full-year energy efficiency tax credits, adding about $0.40 to earnings.
Headwinds
- Continuing industry-wide challenges in labor availability.
- Continuing industry-wide challenges in material availability.
- Potential negative impacts of the COVID-19 pandemic
- Increases in mortgage interest rates
- 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 2022
-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
| Quarter | Report date | Reaction (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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