I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for News Perception specializing in quicker moving active shares with a short term view on investment opportunities and trends.
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Latest posts by Albert Cantu (see all)
- Earnings Recap: Beazer Homes USA Inc. (NYSE: BZH) - November 6, 2019
- News Alert: Arbor Realty Trust Inc. (NYSE: ABR) - October 29, 2019
- Financial Reports are Key to Consider: WhiteHorse Finance Inc. (NASDAQ: WHF) - October 27, 2019
ATLANTA, November 6, 2019 – Shares of Beazer Homes USA Inc. (NYSE: BZH) showed the bearish trend with a lower momentum of -3.53% to $14.75. The company traded total volume of 399.872K shares as contrast to its average volume of 460.95K shares. The company has a market value of $448.25M and about 30.39M shares outstanding.
Beazer Homes USA, Inc. (NYSE: BZH) reported net income from continuing operations of $11.60M, generating diluted earnings per share of $0.38. This included energy tax credits of $4.40M and a gain on debt extinguishment of $0.40M. Third quarter adjusted EBITDA of $38.70M was down $7.90M compared to the same period last year.
Third quarter homebuilding revenue was $482.30M, down 4.9% from the same period last year. The average selling price rose 4.3% to $380.1.0K, offset by an 8.8% decrease in home closings to 1,269 homes.
Backlog: The dollar value of homes in backlog as of June 30, 2019 decreased 4.2% to $881.60M, or 2,264 homes, compared to $920.70M, or 2,371 homes, at the same time last year. The average selling price of homes in backlog was $389.40M, essentially flat year over year.
Liquidity: At the close of the third quarter, the Company had approximately $173.50M of available liquidity, including $68.50M of unrestricted cash and $105.00M available on its secured revolving credit facility after accounting for borrowings.
Share and Debt Repurchases: The Company retired $16.60M of its outstanding 6.75% unsecured Senior Notes due March 2025 at an average price of $96.61 per $100 principal amount. We entered into an accelerated share repurchase (ASR) agreement during the quarter to repurchase $10.00M of our outstanding common stock, which was completed during July 2019. A total of 1.00M shares were purchased through the ASR at an average price per share of $9.87. In addition, the Company repurchased $0.60M of shares through open market transactions during the quarter. Year to date, the Company has repurchased $21.70M of debt and $34.60M of stock.
The Company offered net profit margin of -1.00% while its gross profit margin was 8.50%. ROE was recorded as -3.60% while beta factor was 2.40. The stock, as of recent close, has shown the weekly downbeat performance of -6.35% which was maintained at 55.59% in this year.