NYSE$BZH

Beazer Homes USA Inc · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Reported healthy results driven by revenue growth and cost control, with progress towards multi-year goals.

Beazer Homes reported a net income of $27.2 million, or $0.88 per diluted share, and adjusted EBITDA of $53.5 million. Homebuilding revenue increased by 3.3% to $589.6 million, driven by a 4.5% increase in home closings. The company also repurchased approximately 450,000 shares of its common stock.

  • Net income from continuing operations was $27.2 million, or $0.88 per diluted share.
  • Homebuilding revenue increased 3.3% year-over-year to $589.6 million.
  • Net new orders decreased 10.8% to 1,070.
  • Backlog dollar value increased 3.6% to $1.05 billion.

Headline financials

Total Revenue

$596M

Previous: $573M+4.0%
EPS

$0.88

Previous: $1.42-38.0%
Total Home Closings

1.2K

Previous: 1.1K+4.5%
Average Selling Price from Closings

$505K

Previous: $511K-1.1%
Net New Orders

1.1K

No prior period
Orders per Community per Month

2.4

No prior period
Cancellation Rate

18.6%

Previous: 16.1%+15.5%
Active Community Count at Period-End

146

No prior period
Adjusted EBITDA

$53.5M

No prior period
Homebuilding Gross Margin

17.3%

Previous: 20.2%-14.4%
SG&A as % of Total Revenue

11.9%

No prior period
Land Acquisition & Development Spending

$201M

No prior period
Controlled Lots

28.4K

No prior period
Total Debt to Total Capitalization Ratio

47.6%

No prior period
Net Debt to Net Capitalization Ratio

45.8%

No prior period
Capital Expenditures

-$16.7M

Previous: -$14.1M-18.2%
Free Cash Flow

$10.5M

Previous: $29.7M-64.6%
Net Income

$27.2M

Previous: $43.8M-37.9%
Operating Income

$28.5M

Previous: $47.9M-40.5%
Gross Profit

$103M

Previous: $117M-11.5%
Stock-Based Comp

$2.47M

Previous: $1.99M+24.4%

Revenue & EPS history

Beazer Homes · Revenue · Quarterly

$596M

Q3 2024+4%vs Q3 2023
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

The company did not provide specific forward guidance in this earnings report.

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 Q3 2024

Historical avgQ3 2024

-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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