Beazer Homes (NYSE: BZH) reported Q2 EPS of ($0.23), which may not compare to the analyst estimate of ($0.02). Revenue for the quarter came in at $425.5 million versus the consensus estimate of $397.34 million.

The Company reported a loss for the quarter of $7.5 million, including a $15.6 million loss from the early extinguishment of debt incurred as part of the Company’s refinancing activity. Excluding that charge, as well as abandonment and impairment costs in the quarter, net income would have been approximately $2.5 million.

• Adjusted EBITDA for the current quarter was $33.2 million, up $7.0 million, or nearly 27% over the prior year quarter.
• Revenue was higher by 11.8% due to a 7.7% increase in home closings and 3.8% increase in average selling price.
• Homebuilding gross margin excluding interest, impairments and abandonments was 20.7%, up 50 basis points, driven by increased home prices as well as the Company’s cost control and improved cycle time initiatives.

“We had a terrific second quarter - with improvements in both home sales and closings, higher average sales prices, better gross margins and a lower SG&A ratio, all contributing to a substantial increase in EBITDA,” said Allan Merrill, Beazer’s President and CEO. “We also positioned ourselves for future growth through increased land spending, expansion of our Gatherings business and the strengthening of our balance sheet.”

Mr. Merrill continued, “Our selling proposition - to provide extraordinary value at an affordable price to Millennial and Active Adult buyers - is perfectly aligned with both our operating experience and powerful demographic trends. That’s why we remain confident in our ability to drive significant improvements in returns and profitability in the years ahead.

For earnings history and earnings-related data on Beazer Homes (BZH) click here.