Skip to main content

Another homebuilder, another record quarter.

Beazer Homes

(BZH)

reported record earnings in its first quarter, crushing analysts' expectations, as the nation's housing boom continued despite the latest predictions of a slowdown.

The Atlanta-based company earned $69.7 million, or $4.70 a share, up almost 48% from the year-ago quarter's $47.2 million, or $3.41 a share. Revenue rose 12.6% to $911.8 million from $810.1 million. Analysts expected the company to earn $4.36 a share.

The company also reiterated its 2005 EPS forecast of $20.00 to $21.00 a share. The consensus estimate is $19.19.

Beazer's backlog of new orders hit a record level of 8,427 homes. New orders rose 7.3% during the quarter.

The company's Southeast, Central and Mid-Atlantic regions performed the best during the quarter; order growth in those regions was partially offset by lower orders in the Midwest and West regions.

Shares rose 14 cents to $146.50 in the premarket.