Beazer Homes USA Inc. Earnings: Profit Snaps Streak of Losses

Beazer Homes USA Inc. (NYSE:BZH) climbed to a profit in the first quarter and beat Wall Street’s expectations in the process. 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 First Quarter

Results: Reported a profit of $739,000 (one cent per diluted share) in the quarter. The residential construction company had a net loss of $48.8 million or a loss of 66 cents per share in the year earlier quarter.

Revenue: Rose 73.1% to $188.5 million from the year earlier quarter.

Actual vs. Wall St. Expectations: Beazer Homes USA Inc. beat the mean analyst estimate of a loss of 35 cents per share. It fell short of the average revenue estimate of $211.4 million.

Quoting Management: “I am pleased with our results for the quarter,” said Allan Merrill, President and Chief Executive Officer of Beazer Homes. “In spite of still challenging market conditions, our team managed to generate a 36% improvement in year-over-year new home orders while reducing overhead costs in dollar and percentage terms. While we have a lot of work in front of us to return to sustainable profitability, we are committed to delivering higher orders and closings as well as positive EBITDA for the full fiscal year.”

Key Stats:

The company beat estimates last quarter after falling short in the previous two quarters. In the fourth quarter of the last fiscal year, it missed the mark by 15 cents, and in the third quarter of the last fiscal year, it fell short by 11 cents.

The company’s profit in the latest quarter follows losses in the three previous quarters. The company reported a net loss of $43.2 million in the fourth quarter of the last fiscal year, a loss of $59.1 million in the third quarter of the last fiscal year and a loss of $53.8 million in the second of the last fiscal year.

Looking Forward: The average estimate for the second quarter is down from a loss of 38 cents per share ninety days ago to a loss of 42 cents, indicating that analysts are increasingly pessimistic about the company’s next quarter performance. The average estimate for the fiscal year has reached a loss of $1.40 per share, down from a loss of $1.26 ninety days ago.

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

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com