Beazer Homes USA, Inc. Earnings Cheat Sheet: Loss Widens, Falls Below Estimates

Beazer Homes USA, Inc. (NASDAQ:BZH) reported its results for the third quarter. Beazer Homes USA, Inc. 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 Third Quarter

Results: Loss widened to $59.1 million (80 cents per diluted share) from $27.8 million (loss of 41 cents per share) in the same quarter a year earlier.

Revenue: Fell 46% to $172.8 million from the year earlier quarter.

Actual vs. Wall St. Expectations: BZH fell short of the mean analyst estimate of a loss of 42 cents per share. It fell short of the average revenue estimate of $231.8 million.

Quoting Management: “I’m pleased with our sales efforts during the third quarter,” said Allan Merrill, President and Chief Executive Officer of Beazer Homes. “Our sales team was able to overcome significant headwinds in both the economy and the housing market to record substantially improved orders. Our emphasis on promoting the low cost of ownership of a new Beazer Home compared with both existing homes and other new homes was an important contributor to this effort.”

Key Stats:

The company has now missed analyst estimates for the last four quarters. It fell short by 4 cents in the second quarter, by 17 cents in the first quarter, and by 7 cents in the fourth quarter of the last fiscal year.

Revenue has fallen in the past four quarters. Revenue declined 35.7% to $127.5 million in the second quarter. The figure fell 49.6% in the first quarter from the year earlier and dropped 29.7% in the fourth quarter of the last fiscal year from the year-ago quarter.

Competitors to Watch: M.D.C. Holdings, Inc. (NYSE:MDC), KB Home (NYSE:KBH), Hovnanian Enterprises, Inc. (NYSE:HOV), D.R. Horton, Inc. (NYSE:DHI), M/I Homes, Inc. (NYSE:MHO), NVR, Inc. (NYSE:NVR), The Ryland Group, Inc. (NYSE:RYL), PulteGroup, Inc. (NYSE:PHM).

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(Source: Xignite Financials)