Beazer Homes tumbles after Q1 profit miss

Beazer Homes USA

31/01/2025 14:27

** Shares of Beazer Homes  BZH.N  down 11.6% before the bell to
$24.50, lowest since Nov 2023, after qtrly profit falls well shy
of analysts' expectations
** Atlanta-based homebuilder late Thurs posted fiscal Q1 adj EPS
of 10 cents, down from 70 cents/sh a yr-ago, missing LSEG
estimate of 31 cents
    ** Total rev in qtr of $469 mln topped consensus view of
$463.5 mln
    ** New home orders of 932 were up 13% y/y, as CEO Allan
Merrill cited a challenging new home sales environment
** On the earnings call, Merrill said "the most challenging
markets were in Texas and Florida, where higher inventory levels
led to sluggish sales and more aggressive incentives"
    ** 4 analysts cover BZH with 3 "strong buy" ratings and 1
"buy" and their median PT is $42.50 - LSEG
    ** Through Thurs close, stock has shed ~13% over the past
year

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@tr.com 1-646-279-6380))