Beazer Homes USA Inc. Earnings: Beats Analysts’ Estimates as Loss Narrows

Beazer Homes USA Inc. (NYSE:BZH) reported a loss in the second quarter as its quarterly loss narrowed helped by rising revenue. Beazer Homes USA designs, sells, and builds single-family and multi-family homes in the United States.

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Beazer Homes USA Earnings Cheat Sheet for the Second Quarter

Results: Loss narrowed to $39.9 million (loss of 48 cents per diluted share) from $53.8 million (loss of 73 cents per share) in the same quarter a year earlier.

Revenue: Rose 52.4% to $191.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Beazer Homes USA Inc. beat the mean analyst estimate of a loss of 41 cents per share. Analysts were expecting revenue of $192.5 million.

Quoting Management: “I was very pleased with our second quarter results,” said Allan Merrill, CEO of Beazer Homes. “We generated significant year-over-year increases in new home orders and home closings, reflecting both the initial operational benefits of our path-to-profitability strategies and gradually improving conditions in the housing market. We remain hopeful, but cautious, about the prospects for a sustained market recovery, as a number of factors continue to pose challenges for prospective homebuyers. Nevertheless, we are committed to taking the steps necessary to return to profitability as soon as possible.”

Key Stats:

The company trumped estimates last quarter after falling shy in the two quarters prior. In the first quarter, it missed the mark by one cent, and in the fourth quarter of the last fiscal year, it came in under estimates by 15 cents.

Last quarter, the company reported a net loss that marked a turn from the previous quarter’s profit. In the fourth quarter of the last fiscal year, the company booked a profit of $43.2 million, or 58 cents per share.

Looking Forward: For next quarter, expectations for the company’s next quarter performance are higher than they were sixty days ago. The average estimate for the third quarter is now a loss of 36 cents per share, up from a loss of 37 cents. Over the past ninety days, the average estimates for the fiscal year has risen from a loss of $1.40 per share to a loss of $1.17.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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