Beazer Homes USA Q2 Profit Down

(RTTNews) - Beazer Homes USA Inc. (BZH) reported that its second quarter net income from continuing operations was $34.7 million or $1.13 per share, down from $44.7 million, or $1.45 per share in fiscal second quarter 2022.

Second quarter homebuilding revenue was $542.0 million, up 6.9% year-over-year. The increase in homebuilding revenue was driven by an 8.4% increase in the average selling price to $509.9 thousand, which was offset by a 1.4% decrease in home closings to 1,063 homes.

Total revenue was $543.91 million compared to $508.51 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.82 per share and revenues of $519.92 million for the second quarter. Analysts' estimates typically exclude special items.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com