Seeking Alpha

Beazer Homes hit by weather, declines in West segment

  • 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.
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