Beazer Homes (BZH +9.6%) gains after its FQ2 top line result beat consensus estimates this...

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

Beazer Homes (BZH +9.6%) gains after its FQ2 top line result beat consensus estimates this morning. Net losses narrowed as revenue jumped and it continued to see improvements all metrics. New orders gained 0.6% to 1,521 homes, while total backlog rose to 2,211 homes with a sales value of $584.2M, compared with 1,975 homes with a sales value of $465M the prior year. Total home closings were up 34%, with cancellation rates down 18.7% from 22.5%. Gross margin rose to 19.1% from 17.5%.