NYSE$BZH

Beazer Homes USA Inc · Q1 2025 earnings

Q1 2025 earnings · · After market close · Investor relations

Briefing

Beazer Homes reported mixed results for Q1 2025 with increased revenue and orders offset by lower profitability.

Beazer Homes USA, Inc. announced its financial results for the three months ended December 31, 2024. The company saw an increase in net new orders and closings, supported by a higher community count. However, net income and adjusted EBITDA decreased compared to the previous year due to lower operating margins.

  • Net new orders increased by 13.2% year-over-year.
  • Homebuilding revenue increased by 20.9% due to a 22.1% increase in home closings.
  • Homebuilding gross margin decreased by 470 basis points to 15.2%.
  • Net income from continuing operations was $3.1 million, or $0.10 per diluted share, compared to $21.7 million, or $0.70 per diluted share, in the prior year.

Headline financials

Total Revenue

$469M

Previous: $387M+21.2%
EPS (adj)

$0.10

Previous: $0.70-85.7%
Total Home Closings

907

No prior period
Average Selling Price from Closings

$508K

No prior period
Net New Orders

932

No prior period
Orders per Community per Month

1.9

No prior period
Cancellation Rate

16.5%

No prior period
Active Community Count at Period-End

163

No prior period
Adjusted EBITDA

$23M

No prior period
Homebuilding Gross Margin

15.2%

No prior period
SG&A as % of Total Revenue

14.0%

No prior period
Land Acquisition & Development Spending

$211M

No prior period
Controlled Lots

28.9K

No prior period
Total Debt to Total Capitalization Ratio

46.5%

No prior period
Net Debt to Net Capitalization Ratio

44.5%

No prior period
Capital Expenditures

-$5.22M

Previous: -$5.54M+5.9%
Net Income

$3.1M

Previous: $21.7M-85.7%
Operating Income

$2.14M

Previous: $20.3M-89.4%
Gross Profit

$72.1M

Previous: $77.7M-7.3%
Stock-Based Comp

$1.91M

Previous: $1.67M+14.3%

Revenue & EPS history

Beazer Homes · Revenue · Quarterly

$469M

Q1 2025+21.2%vs Q1 2024
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

Beazer Homes · $573M total across 2 segments · Q3 2023

  • Homebuilding Revenue
    $571M+9.0%
  • Land Sales and Other
    $2.01M-41.5%

Forward guidance

Despite near-term affordability challenges, Beazer Homes remains confident in its ability to generate a double-digit return on capital employed for the full fiscal year 2025.

Tailwinds

  • Expected to end fiscal year 2025 with approximately 180 active communities.
  • Anticipate controlling the land necessary to reach 200 active communities by the end of fiscal year 2026.
  • Net debt to net capitalization ratio should be in the mid-30% range at fiscal year-end.
  • Approaching target of less than 30% net debt to net capitalization ratio by the end of fiscal year 2026.
  • Expect 100% of home starts will be Zero Energy Ready by December 2025.

Headwinds

  • Challenging new home sales environment.
  • Affordability challenges in the near-term environment.
  • Potential impact of economic changes and elevated mortgage interest rates on consumer confidence and demand.
  • Risks associated with supply chain challenges and shortages of raw materials.
  • Uncertainties related to land values and development costs.

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 2025

Historical avgQ1 2025

-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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