Beazer Homes (BZH) Tops Q3 EPS by 3c

Beazer Homes (NYSE: BZH) reported Q3 EPS of $0.38, $0.03 better than the analyst estimate of $0.35. Revenue for the quarter came in at $429.4 million versus the consensus estimate of $446.39 million.

New home orders grew 18.1% for the quarter, with an average active community count that was 17.1% higher than a year ago. Absorption rates were especially strong at 3.1 sales per community per month for the quarter, while the average selling price (“ASP”) increased to $318.0 thousand, the highest ASP for any quarter in the Company’s history. Finally, the Company ended June 2015 with 2,764 units in backlog, a 25.0% increase from the prior year period, with an ASP of $325.3 thousand (8.5% greater than the ASP of backlog as of the end of the prior year quarter). The Company's backlog value for the quarter ended June 30, 2015 was $899.2 million, a 35.6% increase from the prior year quarter.

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

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