Beazer Homes hit by weather, declines in West segment

|About: Beazer Homes USA, Inc. (BZH)|By:, SA News Editor

Beazer Homes' (BZH) net new orders -9% in FQ2 to 1,390.

Closings -13% to 977.

Backlog -2% to 2,163.

Beazer's West segment suffered the largest declines, while the severe winter weather also hit the company's performance in the East.

Unrestricted cash balance as of March 31 $285-315M.

Beazer remains optimistic about the 2014 spring selling season, says CEO Allan Merrill. "The new-home market continues to benefit from gradual improvements in the labor market, limited home inventories and generally favorable affordability metrics," Merrill says.

The company expects to generate net income in fiscal 2014.

Shares are -1.9%. (PR)

This was corrected on 04/03/2014 at 09:34 AM. The reporting period was misstated.