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    Natalie Kulasekere

    Research Analyst at Zelman & Associates

    Natalie Kulasekere is an Equity Research Associate at Zelman & Associates based in New York, specializing in coverage of the homebuilding and land development sectors. She assists in research and analysis for major companies within these sectors, including public homebuilders and real estate service companies, contributing to reports that address companies such as Compass (COMP), Rocket Companies (RKT), Redfin (RDFN), and Zillow Group (Z), and participates in generating fundamental sector and stock-level performance metrics. Since joining Zelman & Associates in 2023, Natalie has leveraged her prior experience as a Junior Research Analyst at Capital Alliance Securities in Sri Lanka, where she covered the construction materials sector, and holds a bachelor’s degree from Victoria University and a master’s degree from Duke University’s Fuqua School of Business. She is not listed with senior analyst rankings or regulatory licenses such as FINRA at this time, but she has contributed to team research valued by institutional clients and investors in the U.S. housing market.

    Natalie Kulasekere's questions to HOVNANIAN ENTERPRISES (HOV) leadership

    Natalie Kulasekere's questions to HOVNANIAN ENTERPRISES (HOV) leadership • Q2 2025

    Question

    Natalie Kulasekere of Wedbush Securities inquired about recent land acquisitions, asking if lower land prices were being seen despite commentary on stickiness, which markets offered easier terms, and the drivers behind the Q3 gross margin guidance.

    Answer

    Ara Hovnanian, Chairman, President and CEO, explained that while land sellers are slow to adjust, the company is finding enough opportunities to meet its return hurdles, particularly in markets like Delaware, Virginia, and New Jersey. He noted that Q3 margin confidence comes from community-by-community analysis and cost reduction efforts. CFO Brad O'Connor added that the Q3 margin guidance of 17-18% is very close to the 17.3% just reported, suggesting stability rather than a significant increase.

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    Natalie Kulasekere's questions to BEAZER HOMES USA (BZH) leadership

    Natalie Kulasekere's questions to BEAZER HOMES USA (BZH) leadership • Q2 2025

    Question

    Natalie Kulasekere asked about the impact of adjusted growth plans on overhead leverage, the strategy for potentially uneconomical land deals, and the ability to maintain a price premium for Zero Energy Ready homes amid competitor incentives.

    Answer

    Executives David Goldberg and Allan Merrill confirmed they still expect to achieve overhead leverage, as near-term growth investments are already made. Merrill stated they have discretion to walk away from or renegotiate land deals and affirmed his belief they can earn a premium on Zero Energy Ready homes, which have consistently shown better margins.

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