Beazer Homes (NYSE: BZH) reported Q4 EPS of $1.83, $0.82 better than the analyst estimate of $1.01. Revenue for the quarter came in at $767.95 million versus the consensus estimate of $747.32 million.

“Strong operational results in our fourth quarter allowed us to complete our two most important objectives for fiscal 2018 - surpassing our “2B-10” goal and completing our $250 million debt reduction plan,” said Allan P. Merrill, President and CEO of Beazer Homes. “In the fourth quarter, we also finalized our acquisition of Venture Homes and welcomed our first owners to our new Gatherings community in Orlando.”

“Looking into fiscal 2019, with our long-standing commitment to delivering an ‘extraordinary value at an affordable price’ primarily for first-time and active adult buyers, we’re positioned to address the affordability challenges in the housing market. We are anticipating improved profitability, with a growing community count and a higher average selling price helping us counter more competitive market conditions. In addition, we are committing capital to both stock and debt repurchases, as we believe current pricing for our securities represents an attractive investment opportunity. Collectively, these efforts should allow us to generate a double-digit return on assets in the coming year.”

Beazer Homes Fiscal Fourth Quarter 2018 Highlights and Comparison to Fiscal Fourth Quarter 2017

• Net income from continuing operations of $60.5 million, up 79.5%. Excluding impairments, abandonments, and the changes in the deferred tax asset valuation allowance, net income from continuing operations was $38.0 million
• Adjusted EBITDA of $90.1 million, up 17.2%
• Homebuilding revenue of $761.5 million, up 14.4%
• 2,044 new home deliveries, up 7.4%
• Average selling price of $372.6 thousand, up 6.6%
• Homebuilding gross margin excluding impairments and abandonments was 17.3%, up 10 basis points. Excluding impairments, abandonments and amortized interest, homebuilding gross margin was 21.6%, down 40 basis points
• SG&A as a percentage of total revenue was 10.1%, down 40 basis points
• Unit orders of 1,305, down 0.8%. Average community count was 162, up 5.0%. Sales per community per month of 2.7, down 5.4%
• Unrestricted cash at quarter end was $139.8 million

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