Beazer: Overview of Fiscal First Quarter Earnings

Beazer Homes Reports First-Quarter Loss

Beazer Homes USA Inc., headquartered in Atlanta, announced a net loss of $32.6 million for its fiscal first quarter, reversing a profit from the same period last year.

The company reported a loss of $1.13 per share. When excluding one-time expenses, the adjusted loss was 90 cents per share.

These figures were below analyst expectations. According to Zacks Investment Research, analysts had anticipated a loss of 49 cents per share on average.

Revenue for the quarter reached $363.5 million, which also missed projections. Analysts surveyed by Zacks had forecasted revenue of $423.2 million.

Since the start of the year, Beazer’s stock price has risen by 19%. However, at the close of trading on Thursday, shares stood at $24.21, reflecting a 10% decrease over the past year.