Beazer Homes surges 5% on strong Q4 beat
Beazer Homes surges 5% on strong Q4 beat
BZH
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Beazer Homes (NYSE:BZH) shares gained around 4% after-hours following the company’s reported Q4 results, with EPS of $1.80 coming in better than the consensus estimate of $1.39.
Revenue was $645.4 million, beating the consensus estimate of $627.29M. Homebuilding revenue fell 22% to $641.8M, due to a 23.7% decrease in home closings, partially offset by a 1.9% increase in average selling price.
The backlog dollar value was $886.4M, representing a 22.6% decline, due to an 18.2% decrease in backlog units and a 5.4% decrease in the average selling price of homes in backlog.
“Strong fourth quarter results were highlighted by growth in community count, improved backlog conversion and higher gross margins,” said CEO Allan P. Merrill.
