Beazer Homes Usa Inc (BZH)

Shares of Beazer Home USA (BZH) dropped by 10.15% from $30.20 to $27.17 in the trading on Friday, Novemeber 17, 2023. The reason why BZH is down today is due to the company's announcement of weaker-than-expected quarterly result.

• Fourth Quarter Fiscal 2023 Highlights: In the fourth quarter, net income from continuing operations was $55.8 million, or $1.80 per diluted share, compared to $86.8 million, or $2.82 per diluted share, in the same quarter of the previous year. Adjusted EBITDA for the quarter decreased by 37.2% to $90.0 million. Homebuilding revenue dropped by 22.2% to $641.8 million, with a 23.7% decrease in home closings, slightly offset by a modest increase in average selling prices to $520.5 thousand.
• Fiscal Year 2023 Overview: For the full fiscal year, BZH's net income from continuing operations was $158.7 million, or $5.16 per diluted share, down from the previous year. Adjusted EBITDA also decreased. Homebuilding revenue dropped due to lower home closings, partially offset by higher selling prices. Despite market challenges like rising mortgage rates and supply chain issues, BZH increased its community count and controlled lots, positioning for future growth.

Shares of Beazer Home USA (BZH) dropped by 10.15% from $30.20 to $27.17 in the trading on Friday, Novemeber 17, 2023. The reason why BZH is down today is due to the company's announcement of weaker-than-expected quarterly result.

• Fourth Quarter Fiscal 2023 Highlights: In the fourth quarter, net income from continuing operations was $55.8 million, or $1.80 per diluted share, compared to $86.8 million, or $2.82 per diluted share, in the same quarter of the previous year. Adjusted EBITDA for the quarter decreased by 37.2% to $90.0 million. Homebuilding revenue dropped by 22.2% to $641.8 million, with a 23.7% decrease in home closings, slightly offset by a modest increase in average selling prices to $520.5 thousand.
• Fiscal Year 2023 Overview: For the full fiscal year, BZH's net income from continuing operations was $158.7 million, or $5.16 per diluted share, down from the previous year. Adjusted EBITDA also decreased. Homebuilding revenue dropped due to lower home closings, partially offset by higher selling prices. Despite market challenges like rising mortgage rates and supply chain issues, BZH increased its community count and controlled lots, positioning for future growth.