Beazer Homes Announces Preliminary Operating Results
September 18 2019 - 8:00AM
Business Wire
Beazer Homes USA, Inc. (NYSE:BZH) (www.beazer.com) (the
“Company”) today announced that its sales for the first two months
of its fiscal fourth quarter were up 12.5% year over year. This
increase was primarily related to a higher pace, as sales per
community per month rose to 3.0 from 2.7 in the previous year. In
addition, the Company continues to expect its fiscal fourth quarter
backlog conversion ratio to be similar to the fourth quarter of the
prior fiscal year.
The Company will report its full fourth quarter 2019 results in
November and is not updating any additional guidance at this
time.
About Beazer Homes USA, Inc.
Headquartered in Atlanta, Beazer Homes (NYSE:BZH) is one of the
country’s largest homebuilders. Every Beazer home is designed and
built to provide Surprising Performance, giving you more quality
and more comfort from the moment you move in - saving you money
every month. With Beazer’s Choice Plans™, you can personalize your
primary living areas - giving you a choice of how you want to live
in the home, at no additional cost. And unlike most national
homebuilders, we empower our customers to shop and compare loan
options. Our Mortgage Choice program gives you the resources to
easily compare multiple loan offers and choose the best lender and
loan offer for you, saving you thousands over the life of your
loan. We build our homes in Arizona, California, Delaware, Florida,
Georgia, Indiana, Maryland, Nevada, North Carolina, South Carolina,
Tennessee, Texas, and Virginia. For more information, visit
beazer.com, or check out beazer.com on Facebook, Instagram and
Twitter.
This press release contains forward-looking statements. These
forward-looking statements represent our expectations or beliefs
concerning future events, and it is possible that the results
described in this press release will not be achieved. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of our control, that could
cause actual results to differ materially from the results
discussed in the forward-looking statements, including, among other
things: (i) economic changes nationally or in local markets,
changes in consumer confidence, and wage levels, declines in
employment levels, inflation or increases in the quantity and
decreases in the price of new homes and resale homes on the market;
(ii) the cyclical nature of the homebuilding industry and a
potential deterioration in homebuilding industry conditions; (iii)
factors affecting margins, such as decreased land values underlying
land option agreements, increased land development costs on
communities under development or delays or difficulties in
implementing initiatives to reduce our production and overhead cost
structure; (iv) the availability and cost of land and the risks
associated with the future value of our inventory, such as asset
impairment charges we took on select California assets during the
second quarter of fiscal 2019; (v) shortages of or increased prices
for labor, land or raw materials used in housing production, and
the level of quality and craftsmanship provided by our
subcontractors; (vi) estimates related to homes to be delivered in
the future (backlog) are imprecise, as they are subject to various
cancellation risks that cannot be fully controlled; (vii) increases
in mortgage interest rates, increased disruption in the
availability of mortgage financing, a change in tax laws regarding
the deductibility of mortgage interest for tax purposes or an
increased number of foreclosures; (viii) our cost of and ability to
access capital, due to factors such as limitations in the capital
markets or adverse credit market conditions, and ability to
otherwise meet our ongoing liquidity needs, including the impact of
any downgrades of our credit ratings or reductions in our tangible
net worth or liquidity levels; (ix) our ability to reduce our
outstanding indebtedness and to comply with covenants in our debt
agreements or satisfy such obligations through repayment or
refinancing; (x) our ability to implement and complete our capital
allocation plans, including our share and debt repurchase programs;
(xi) increased competition or delays in reacting to changing
consumer preferences in home design; (xii) weather conditions or
other related events that could result in delays in land
development or home construction, increase our costs or decrease
demand in the impacted areas; (xiii) estimates related to the
potential recoverability of our deferred tax assets, and a
potential reduction in corporate tax rates that could reduce the
usefulness of our existing deferred tax assets; (xiv) potential
delays or increased costs in obtaining necessary permits as a
result of changes to, or complying with, laws, regulations or
governmental policies, and possible penalties for failure to comply
with such laws, regulations or governmental policies, including
those related to the environment; (xv) the results of litigation or
government proceedings and fulfillment of any related obligations;
(xvi) the impact of construction defect and home warranty claims;
(xvii) the cost and availability of insurance and surety bonds, as
well as the sufficiency of these instruments to cover potential
losses incurred; (xviii) the performance of our unconsolidated
entities and our unconsolidated entity partners; (xix) the impact
of information technology failures or data security breaches; (xx)
terrorist acts, natural disasters, acts of war or other factors
over which we have little or no control; or (xxi) the impact on
homebuilding in key markets of governmental regulations limiting
the availability of water.
Any forward-looking statement speaks only as of the date on
which such statement is made and, except as required by law, we
undertake no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated
events. New factors emerge from time-to-time, and it is not
possible to predict all such factors.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190918005370/en/
Beazer Homes USA, Inc. David Goldberg Vice President, Treasurer
& Investor Relations 770-829-3700
investor.relations@beazer.com
Beazer Homes USA (NYSE:BZH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Beazer Homes USA (NYSE:BZH)
Historical Stock Chart
From Apr 2023 to Apr 2024