Beazer Homes (NYSE: BZH) reported Q2 EPS of $0.36, $0.21 better than the analyst estimate of $0.15. Revenue for the quarter came in at $455.18 million versus the consensus estimate of $439.03 million.

“Improvements in nearly every one of our core operational metrics led to a significant improvement in profitability in the second quarter,” said Allan P. Merrill, President and CEO of Beazer Homes. “Customer interest was quite strong as continuing job and wage growth, together with low inventories of new and used homes, more than offset concerns about higher home prices and mortgage rates.”

“Our commitment to deliver ‘extraordinary value at an affordable price’ has us well positioned in this environment. We anticipate reaching our ‘2B-10’ and de-leveraging objectives this year, while continuing to improve our return on assets in the quarters and years ahead.”

• Net income from continuing operations of $11.6 million, compared to net loss of $7.5 million in Fiscal 2017
• Adjusted EBITDA of $39.5 million, up 19.1%
• Homebuilding revenue of $441.1 million, up 4.6%, on a 2.2% increase in home closings to 1,266 and a 2.3% increase in average selling price to $348.4 thousand
• Homebuilding gross margin was 16.9%, up 90 basis points. Excluding impairments, abandonments and interest amortized, homebuilding gross margin was 21.3%, up 60 basis points
• SG&A as a percentage of total revenue was 12.8%, down 50 basis points
• Unit orders of 1,679, up 8.4% on a 10.3% increase in sales/community/month to 3.7 and a 1.7% decline in average community count to 151
• Dollar value of backlog of $885.4 million, up 14.0%
• Unrestricted cash at quarter end was $158.8 million

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