Published on 6 Oct 2024 on GuruFocus.com · via Yahoo Finance
Beazer Homes USA Inc (BZH) Q3 2024 Earnings Call Highlights: Strong Lot Pipeline...
Adjusted EBITDA: $53.5 million.Diluted Earnings Per Share (EPS): $0.88.Book Value Per Share: More than $38.Total Lot Pipeline: More than 28,000 lots, up 25% from last year.Sales Pace: 2.4 sales per community per month.Homebuilding Revenue: $589.6 million.Average Sales Price: Approximately $505,000.Adjusted Gross Margin: 20.3%.SG&A as Percentage of Revenue: 11.9%.Net Income: $27.2 million.Share Repurchase: More than 450,000 shares at an average price just above $28.Fourth Quarter Guidance - Orders: About 1,100 orders expected.Fourth Quarter Guidance - Closings: About 1,500 homes expected.Fourth Quarter Guidance - Average Sales Price: About $520,000.Fourth Quarter Guidance - Adjusted EBITDA: Above $80 million.Full Year Guidance - Adjusted EBITDA: About $230 million.Liquidity: $328 million.Net Debt to Net Cap Ratio: Expected in the mid-30s by year-end.Land Spend: Approximately $200 million for the quarter, with full-year spend expected at least $750 million.