- Q1 net loss of $2.1M or $0.08 per share vs. a loss of $8.2M and $0.32 one year ago. Adjusted EBITDA of $129.1M up 24.7% - company expects $20M improvement this year.
- New home orders of 1,698 up 22.2% Y/Y. 3.5 sales per community per month vs. 3.3 a year ago.
- Cancellation rates of 16.7% vs. 19.4%.
- Total closings of 936 vs. 977. ASP for closings of $305.8K up 12.3%.
- Homebuilding revenue of $286.2M up 7.6%. Homebuilding gross margin of 18.3% down 140 basis points; excluding I&A and interest amortized to cost of sales, margin of 21.7% down 80 bps.
- Backlog of 2,533 homes valued at $814.1M, up 27.8%.
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Earnings call at 10 ET
- Previously: Beazer Homes beats by $0.06, beats on revenue (April 30)
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BZH flat premarket