Homebuilder Stock Alert: Beazer Homes (NYSE:BZH) Reports Quarter and Year End
Category: Investment, Homebuilder
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New York, New York - November 12, 2012 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research including homebuilder stocks issues a trading alert for Beazer Homes USA Inc. (NYSE:BZH) following results for the quarter and fiscal year ended September 30, 2012. The stock traded as high as $16.25 on the news and then pulled back and is currently trading at $14.47, down 2.17 or 13.07%.
President and Chief Executive Officer of Beazer Homes. "Operationally, we generated significant growth in orders, closings and backlog, while seeing improving trends in gross margins. From a balance sheet perspective, we added liquidity, improved our book value, extended debt maturities and reduced interest expense."
"In 2013, we expect to meaningfully improve our EBITDA, primarily by achieving margin expansion and further improvement in our sales per community metrics. While our community count will likely decrease for much of the year, we are actively investing in a substantial number of new communities, which we expect to deliver closings starting in fiscal year 2014.”
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