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Beazer Homes (BZH) Reports Preliminary Q2 Results, View Upbeat
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Atlanta-based homebuilder Beazer Homes USA, Inc. (BZH - Free Report) reported preliminary operating second-quarter fiscal 2017 financial results on Mar 7. Beazer is expected to report its second-quarter results on Apr 27.
Preliminary Q2 Announcement
Sales absorptions for the first two months of the fiscal second quarter were up 11% year over year, resulting in 1,001 orders compared to 1,003 recorded in the prior-year quarter.
Beazer expects debt refinancing transaction to materially extend its debt maturity schedule and clear $100 million of debt by the end of fiscal 2018.
The company still expects fiscal second-quarter backlog conversion ratio to be similar to that reported in the prior-year quarter (60%).
Again, the company expects average community count at around 150, less than 160 reported in the year-earlier quarter, as revealed during the first-quarter 2017 earnings call. Gross margin is anticipated to be slightly higher than 20.2% posted in the second quarter of 2016. SG&A expenses, as a percentage of total revenue, will likely be flat year over year.
Estimate Revisions
Meanwhile, the company’s recent earnings estimates have been discouraging. The current quarter and year has seen two downward estimate revisions over the past 60 days.
As a result, the current quarter consensus estimates dropped from 4 cents to a loss of 1 cent in the past two months, while full-year estimates moved 19.1% lower. Due to this bearish analyst opinion, Beazer currently has a Zacks Rank #5 (Strong Sell).
Also, shares of the company fell 18.6% compared to the 9.6% gain of the Zacks categorized Building Residential/Commercial industry in the past three months.
Stocks to Consider
Better-ranked stocks in the Building Products - Home Builders industry include PulteGroup, Inc. (PHM - Free Report) , D.R. Horton, Inc. (DHI - Free Report) and NVR, Inc. (NVR - Free Report) .
PulteGroup surpassed earnings estimates in three of the past four quarters, with an average beat of 13.5%. NVR’s earnings are expected to grow 23.6% in 2017.
D.R. Horton carries a Zacks Rank #2 (Buy). The company is expected to report its quarterly numbers on Mar 21.
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Beazer Homes (BZH) Reports Preliminary Q2 Results, View Upbeat
Atlanta-based homebuilder Beazer Homes USA, Inc. (BZH - Free Report) reported preliminary operating second-quarter fiscal 2017 financial results on Mar 7. Beazer is expected to report its second-quarter results on Apr 27.
Preliminary Q2 Announcement
Sales absorptions for the first two months of the fiscal second quarter were up 11% year over year, resulting in 1,001 orders compared to 1,003 recorded in the prior-year quarter.
Beazer expects debt refinancing transaction to materially extend its debt maturity schedule and clear $100 million of debt by the end of fiscal 2018.
The company still expects fiscal second-quarter backlog conversion ratio to be similar to that reported in the prior-year quarter (60%).
Again, the company expects average community count at around 150, less than 160 reported in the year-earlier quarter, as revealed during the first-quarter 2017 earnings call. Gross margin is anticipated to be slightly higher than 20.2% posted in the second quarter of 2016. SG&A expenses, as a percentage of total revenue, will likely be flat year over year.
Estimate Revisions
Meanwhile, the company’s recent earnings estimates have been discouraging. The current quarter and year has seen two downward estimate revisions over the past 60 days.
As a result, the current quarter consensus estimates dropped from 4 cents to a loss of 1 cent in the past two months, while full-year estimates moved 19.1% lower. Due to this bearish analyst opinion, Beazer currently has a Zacks Rank #5 (Strong Sell).
Also, shares of the company fell 18.6% compared to the 9.6% gain of the Zacks categorized Building Residential/Commercial industry in the past three months.
Stocks to Consider
Better-ranked stocks in the Building Products - Home Builders industry include PulteGroup, Inc. (PHM - Free Report) , D.R. Horton, Inc. (DHI - Free Report) and NVR, Inc. (NVR - Free Report) .
PulteGroup and NVR sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PulteGroup surpassed earnings estimates in three of the past four quarters, with an average beat of 13.5%. NVR’s earnings are expected to grow 23.6% in 2017.
D.R. Horton carries a Zacks Rank #2 (Buy). The company is expected to report its quarterly numbers on Mar 21.
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>