Beazer Homes Provides Preliminary Second Quarter Data; Reiterates Expectation Of Net Income For Fiscal 2014

Beazer Homes USA, Inc. (NYSE: BZH) ( www.beazer.com) today provided certain preliminary operational results for its fiscal second quarter and its approximation of the unrestricted cash balance as of March 31, 2014.
    Quarter Ended March 31,
New Orders, net     Closings     Backlog
2014     2013     Change 2014     2013     Change 2014     2013    

Change
West 550 658 -16% 453 504 -10% 751 918 -18%
East 424 442 -4% 257 383 -33% 798 762 5%
Southeast 416 421 -1% 267 240 11% 614 531 16%
 
Total 1,390 1,521 -9% 977 1,127 -13% 2,163 2,211 -2%
 
 

As expected, new orders and closings were impacted by an estimated 6% decline in active community count, including a 21% decline in active community count in our West segment. In addition, closings, as well as some new orders, were impacted by severe weather conditions in our East Segment, which comprises approximately 40% of our active community count.

If you liked this article you might like

Housing Market Better Than Data Show, Lennar Says as It Beats Estimates and Its Shares Rise

Housing Data Drives Down Homebuilding Stocks

Relaxed Credit Standards at Fannie Mae Could Be a Jolt for This Homebuilder

Analysts' Actions -- Beazer Homes, Chevron, Ecolab, Sherwin-Williams and More

My Housing Logic Conundrum