- In the first two months of FQ4, new orders are up 23% vs. the same period one year ago. This is mostly from an improved absorption pace as community count is relatively flat year-over-year. The company continues to expect its FQ4 backlog conversion ratio to be between 75-80%.
- The announcement is made alongside the company's proposal to issue $300M of six-year senior notes, and a tender for its 6.625% senior notes due in 2018.
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NYSE:BZH has been on a nice run, up about 65% since late June.
- Previously: Beazer's Zelnak buys more company stock (Aug. 29)