Beazer's Q1 homebuilding revenue falls due to lower home closings

Overview

• Homebuilder's Q1 homebuilding revenue fell 21.9% yr/yr due to lower home closings

• Adjusted EBITDA for Q1 missed analyst expectations

• Company repurchased $15.1 mln of its outstanding common stock

Outlook

• Beazer Homes expects margin improvements through cost reductions and favorable mix impacts

• Company plans to realign land portfolio and accelerate share repurchases

• Beazer Homes aims to progress towards 2027 goals for community count and deleveraging

Result Drivers

• DEMAND CHALLENGES - Persistent demand challenges and elevated incentives impacted Q1 results, according to CEO Allan P. Merrill

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the homebuilding peer group is "hold."

• Wall Street's median 12-month price target for Beazer Homes USA Inc is $25.00, about 6% above its January 28 closing price of $23.58

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nBwvsbwqa

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