Record Quarter for Beazer Homes

The homebuilder also offers full-year guidance well-above consensus estimate.
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Updated from 9:04 a.m. EDT

Beazer Homes

(BZH) - Get Report

earnings went though the roof in the second quarter as the homebuilder notched a record profit and guided above full-year forecasts.

The Atlanta-based company earned $48.9 million, or $3.52 a share, vs. $38 million, or $2.83 a share, a year ago. The consensus forecast was for $3.26 a share, according to Thomson First Call.

Revenue rose from $665.6 million to $876.6 million. The West region was the strongest.

For full-year 2004, Beazer forecast EPS of $15.75 to $16.00, compared with analysts' forecast for $14.86 a share.

Beazer's backlog now stands at 8,470 homes, up 14% from a year ago, with a sales value of $2.04 billion. Net orders rose 10% and closings increased 12% during the period.

Shares of Beazer were recently up $5.11, or 5.2%, to $103.64.