BUZZ-Beazer Homes tumbles after Q1 profit miss

Shares of Beazer Homes BZH.N down 11.6% before the bell to $24.50, lowest since Nov 2023, after qtrly profit falls well shy of analysts' expectations

Atlanta-based homebuilder late Thurs posted fiscal Q1 adj EPS of 10 cents, down from 70 cents/sh a yr-ago, missing LSEG estimate of 31 cents

Total rev in qtr of $469 mln topped consensus view of $463.5 mln

New home orders of 932 were up 13% y/y, as CEO Allan Merrill cited a challenging new home sales environment

On the earnings call, Merrill said "the most challenging markets were in Texas and Florida, where higher inventory levels led to sluggish sales and more aggressive incentives"

4 analysts cover BZH with 3 "strong buy" ratings and 1 "buy" and their median PT is $42.50 - LSEG

Through Thurs close, stock has shed ~13% over the past year