- 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)