Beazer Homes Q3 revenue falls, to be acquired by Dream Finders Homes
BZH•Result drivers
- Lower home closings - Co said homebuilding revenue fell due to a 13.4% decrease in home closings, partially offset by a 5.9% increase in average selling price.
- Margin pressure - Co said gross margin excluding certain charges declined due to increased price concessions, closing cost incentives, and changes in product and community mix.
- Order growth - Net new orders rose 4.5% on a higher sales pace and a slightly increased community count.
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q3 Homebuilding Revenue | $490.90 mln | ||
| Q3 Adjusted EBITDA | Beat | $15.60 mln | $8.44 mln (4 Analysts) |
| Q3 Homebuilding Gross Margin | 13.6% |
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
- The average consensus recommendation for the homebuilding peer group is "hold."
- Wall Street's median 12-month price target for Beazer Homes USA, Inc. is $26.50, about 20.8% below its August 6 closing price of $33.46.
- The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 22 three months ago.
