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Beazer Homes USA, Inc. (BZH)

  • Thu, Apr. 23, 10:17 AM
    • PulteGroup earlier reported disappointing results which included slimming margins and muted price gains. The stock is lower by 8% in morning action.
    • Minutes ago, HUD reported a far larger-than-expected slowdown in new home sales in March - with the South leading the retreat (gotta be the weather?).
    • Toll Brothers (TOL -2.3%), Hovnanian (HOV -1.2%), Lennar (LEN -2.1%), Ryland (RYL -3%), D.R. Horton (DHI -3.4%), KB Home (KBH -3.5%), Beazer Homes (BZH -3%), Standard Pacific (SPF -2.8%).
    • Previously: PulteGroup -7.8% as Q1 results disappoint (April 23)
    • Previously: South leads big decline in new home sales (April 23)
  • Tue, Apr. 21, 3:54 PM
    • The REITs are down about 8% from their January highs while the homebuilders have posted gains, bringing the ratio of homebuilders to REITs to long-term resistance, says MKM Partners' Jonathan Krinsky, who suggests fading the move.
    • Most vulnerable to tactical pullbacks are those homebuilders/suppliers showing the weakest relative strength: Beazer Homes (NYSE:BZH), Lennar (NYSE:LEN), Louisiana-Pacific (NYSE:LPX), Taylor Morrisn (NYSE:TMHC), Toll Brothers (NYSE:TOL), and TRI Pointe Homes (NYSE:TPH).
    • The best long REIT ideas are those showing the best relative strength: AvalonBay (NYSE:AVB), Crown Castle (NYSE:CCI), Essex Property (NYSE:ESS), Extra Space Storage (NYSE:EXR), Federal Realty (NYSE:FRT), General Growth (NYSE:GGP), SL Green (NYSE:SLG), and UDR.
    • Those REITs showing poor relative strength or to be avoided or sold: American Tower (NYSE:AMT), American Realty Capital (NASDAQ:ARCP), Brixmor (NYSE:BRX), Host Hotels (NYSE:HST), and Omega Healthcare (NYSE:OHI).
    • Source: Barron's
  • Thu, Mar. 5, 11:20 AM
    • First-time homebuyer budgets (how much they're willing to spend) are up 24% vs. 2014, according to Bank of Montreal's (U.S.) homebuying report, and the expected down payment slips to 13% from 16% a year ago. 77% of those surveyed have made "lifestyle cutbacks" to save for a home vs. 72% in 2014.
    • Turning to Texas and the effect of the energy crash, Susquehanna checks show the spring selling season is shaping up to be stronger than last year. The team visited entry-level offerings from D.R. Horton (NYSE:DHI), Pulte Group (NYSE:PHM), Lennar (NYSE:LEN), and Beazer (NYSE:BZH), and found things "surprisingly strong."
    • The news supports management views of higher sales and margins, says Susquehanna, and many builders indicate price hikes of 3-5% in recent months given the strong demand. The team also notes getting a mortgage seems like less of an issue, labor is still tight, and rental costs are, in part, behind the boosted entry-level interest.
    • ETFs: XHB, ITB
    | Comment!
  • Mon, Feb. 23, 10:51 AM
    • Existing home sales fell more than forecast in January, sliding to the lowest seasonally-adjusted annualized rate since April.
    • Previously: Treasury yields head south following soft home sales report (Feb. 23)
    • Compass Point throws in the towel on its Outperform calls on Standard Pacific (SPF -1.2%) and Beazer Homes (BZH -1.4%), downgrading both to Neutral.
    • ETFs: ITB -0.7%, XHB -0.15%
    • Toll Brothers (TOL -0.5%), Lennar (LEN -1%), Hovnanian (HOV -2.5%), PulteGroup (PHM -0.7%), Ryland (RYL -1.3%), D.R. Hoton (DHI -0.8%).
  • Fri, Jan. 30, 8:09 AM
    • FQ1 adjusted net loss from operations of $4.5M vs. a loss of $3.9M a year ago.
    • Company say it's on track to meet its 2B-10 objectives of $2B in revenue with a 10% adjusted EBITDA margin by the end of fiscal 2016. FQ1 homebuilding revenue was $261.6M down 9.8% from last year.
    • New home orders of 966 up 7.9% Y/Y. Community count of 156 up from 138.
    • Total closings of 885 down 14.7%. ASP of $295.6K up 5.8%.
    • Homebuilding gross margin of 13.5% down 530 bps from a year ago, or 16.6% down 460 bps from a year ago, or 21.8% up 60 bps from a year ago, depending on what's being excluded from the calculation.
    • Conference call at 9:30 ET
    • Previously: Beazer Homes EPS of -$0.68 (Jan. 30)
    • BZH flat premarket
    | Comment!
  • Fri, Jan. 30, 6:32 AM
    • Beazer Homes (NYSE:BZH): FQ1 EPS of -$0.68 may not be comparable to consensus of -$0.12.
    • Revenue of $265.7M (-9.4% Y/Y) misses by $30.66M.
    • Press Release
    | 1 Comment
  • Thu, Jan. 29, 5:30 PM
  • Thu, Jan. 29, 10:18 AM
  • Wed, Jan. 7, 6:35 AM
    • Beazer Homes (NYSE:BZH) will report FQ1 results on Jan. 30 before the market opens.
    • The conference call is scheduled to begin at 9.30 a.m. ET.
    • Consensus view is EPS of -$0.16 on revenues of $294.81M.
    | Comment!
  • Dec. 10, 2014, 3:53 PM
    • "Why 2014 was a pause and flat to 2013 and not improving has been a bit puzzling," says Toll Brothers (TOL -7.6%) management on the earnings call.
    • Asked about the impact of tumbling energy prices on markets like Dallas and Houston, management says the company's exposure there is small, with Houston accounting for 3.7% of signed contracts.
    • Overall, Toll expects the housing recovery to be "bumpy," and that demand will truly return when buyers no longer fear price drops.
    • Previously: Toll Brothers slips on FQ4 miss (Dec. 10, 2014)
    • It's a different story (at least for the stock price) with Hovanian (HOV +5.9%) after its earning report today. Management: "It's an understatement to say that the past 12 months have been choppy ... Given the gains we've seen in employment, we would have expected stronger home sales."
    • Previously: Hovnanian pops as fiscal 2015 starts off strong (Dec. 10, 2014)
    • Other builders today: Ryland (RYL -5.1%), Lennar (LEN -5.3%), Beazer (BZH -5.1%), Pulte (PHM -3.5%), KB Home (KBH -5.1%).
    • ETFs: ITB -3.4%, XHB -2.5%
  • Nov. 12, 2014, 5:36 PM
    • Top gainers, as of 5:15 p.m.: SAND +33.6%. CYBR +14.9%. FUEL +13.1%. DY +6.4%. BZH +3.6%.
    • Top losers, as of 5:15 p.m.: XONE -7.2%. DKS -5.6%. ACM -5.2%. RGLS -4.3%. NTAP -3.5%.
    | 1 Comment
  • Nov. 12, 2014, 7:56 AM
    • FQ4 new home orders of 1,173 down 1.6% Y/Y. Average active community count of 149 up 10.4%. Cancellation rate of 23.4% down 50 bps. Total home closings of 1,695 up 2.3%
    • ASP of $295.4K up 12.2%. Homebuilding gross margin excluding items of 22.3% up 90 bps.
    • Management expects to hit its "2B-10" objectives - $2B in revenue and a 10% adjusted EBITDA margin leading to $200M in adjusted EBITDA - by the end of 2016. For fiscal 2014, adjusted EBITDA was $133.2M vs. $86.3M in 2013.
    • Conference call at 10 ET
    • Previously: Beazer Homes EPS of $1.90
    • BZH +4.2% premarket
    | 1 Comment
  • Nov. 12, 2014, 7:16 AM
    • Beazer Homes (NYSE:BZH): FQ4 EPS of $1.90 may not be comparable to consensus of $1.08.
    • Revenue of $545.9M (+24.5% Y/Y) beats by $39.55M.
    • Press Release
    | Comment!
  • Nov. 11, 2014, 5:30 PM
  • Nov. 10, 2014, 8:21 AM
    • Beazer Homes (NYSE:BZH) has announced that Brian C. Beazer will step down as Non-Executive Chairman in February 2015, to be succeeded by Stephen P. Zelnak, Jr., a current member of the Beazer Homes Board of Directors.
    • Beazer, who served in the role of Non-Executive Chairman since the company’s IPO in 1994, will stand for re-election to the Board of Directors at the company’s annual meeting of stockholders scheduled for February 4, 2015.
    | Comment!
  • Oct. 31, 2014, 5:39 PM
    | Comment!
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Company Description
Beazer Homes USA Inc is a homebuilder with active operations in 16 states within three geographic regions in the United States: West, East, and Southeast. It designs, sells and builds single-family and multi-family homes.