BEAZER HOMES USA (BZH) Company Report

For Q4 FY25, Beazer Homes reported homebuilding revenue of $750.8 million, a 4.2% decrease year-over-year, with diluted EPS from continuing operations at $1.02, a 39.6% decrease. For the full fiscal year 2025, total revenue grew 1.8% to $2,371.6 million, but Adjusted EBITDA declined $85.7 million to $157.7 million.
Operational highlights for FY25 included an average active community count of 164, up 14% year-over-year, and the company completed 4,427 closings.
The company improved its balance sheet efficiency, ending FY25 with a net debt to net capitalization ratio of 39.5% and total liquidity of approximately $540 million.
For Q1 FY26, Beazer Homes anticipates approximately 900 new home orders and 800 closings, expecting diluted EPS from continuing operations to be around ($0.50).
Beazer Homes maintained its position as America's #1 Energy-Efficient Homebuilder, achieving an average Home Energy Rating System (HERS) score of 32 in fiscal 2025.

Nov 13, 2025, 10:00 PM

Beazer Homes Reports Q4 2025 Results and Provides Fiscal 2026 Guidance

BZH

Earnings

Guidance Update

Share Buyback

Beazer Homes reported Q4 fiscal 2025 diluted earnings per share of $1.02 and adjusted EBITDA of approximately $64 million, with a gross margin of 17.2% on 1,400 homes closed.
For Q1 fiscal 2026, the company anticipates closing about 800 homes with an average selling price (ASP) around $515,000, expecting an adjusted gross margin of approximately 16% and a net loss of about $0.50 per diluted share.
The company projects a 5%-10% increase in closings for full year fiscal 2026 compared to fiscal 2025, with a target of about three percentage points of margin improvement by Q4 2026 driven by cost savings and mix shifts.
Beazer Homes is pursuing multi-year goals to achieve a community count greater than 200 and a net debt to net capitalization ratio in the low 30% range by the end of fiscal 2027, while also protecting over $140 million in deferred tax assets through a new rights agreement.

Nov 13, 2025, 10:00 PM

Beazer Homes Reports Q4 2025 Revenue Beat Despite EPS Decline

BZH

Earnings

Share Buyback

Guidance Update

Beazer Homes reported Q4 2025 revenue of $791.9 million, surpassing estimates by 17.35%, driven by over 1,400 home closings, though diluted EPS declined to $1.02.
The company's adjusted gross margin was approximately 16%, pressured by a higher mix of less-profitable spec homes, despite cost-saving measures contributing about $10,000 per home.
Beazer Homes focused on balance sheet efficiency, reducing net debt to below 40% and increasing optioned lot shares to 62% from 58%.
The company maintained strong liquidity with nearly $540 million in total liquidity and repurchased about 1.5 million shares (representing roughly 5% of the company) during fiscal 2025, targeting at least the same level of repurchases in fiscal 2026.
Management is optimistic about more balanced supply and demand dynamics in 2026, targeting growth in book value per share and expansion to over 200 active communities by the end of fiscal 2027.

Nov 13, 2025, 9:24 PM

Beazer Homes USA Enters New Rights Agreement to Protect Tax Assets

BZH

Takeover Bid

Dividends

Beazer Homes USA, Inc. (BZH) entered into a New Rights Agreement on November 12, 2025, with the unanimous approval of its Board of Directors, to protect its net operating loss carryforwards (NOLs) and tax credits.
The agreement aims to prevent an "ownership change" under Sections 382 and 383 of the Internal Revenue Code, which could limit the Company's ability to utilize these tax benefits, including approximately $84.1 million in Energy-Efficiency Tax Credits.
This New Rights Agreement deters any person from acquiring 4.95% or more of the Company's outstanding common shares.
A dividend distribution of one preferred share purchase right for each common stock share was declared for stockholders of record as of November 14, 2025, with each right initially allowing purchase of a unit of Series A Junior Participating Preferred Stock for $50.00.
The agreement requires stockholder ratification at the 2026 Annual Meeting of Stockholders and, if ratified, will expire no later than November 14, 2028.

Nov 13, 2025, 9:23 PM

Beazer Homes Reports Fiscal Fourth Quarter and Full Year 2025 Results

BZH

Earnings

Share Buyback

Guidance Update

Beazer Homes reported net income from continuing operations of $30.0 million, or $1.02 per diluted share, for the fourth quarter of fiscal 2025, and $45.6 million, or $1.52 per diluted share, for the full fiscal year 2025.
For Q4 2025, homebuilding revenue was $750.8 million, a 4.2% decrease year-over-year, driven by a 6.0% decrease in home closings to 1,406. Full fiscal year 2025 homebuilding revenue was $2.30 billion on 4,427 home closings.
The company ended fiscal 2025 with $538.3 million in total liquidity, including $214.7 million of unrestricted cash, and a total debt to total capitalization ratio of 45.2%.
During fiscal 2025, Beazer Homes repurchased $33.1 million of its common stock. To protect its $142.6 million in net deferred tax assets, including $84.1 million in Energy-Efficiency Tax Credits, a new Rights Agreement was entered into, pending stockholder ratification at the 2026 Annual Meeting.

Nov 13, 2025, 9:22 PM

Earnings Transcripts

Quarterly earnings call transcripts for BEAZER HOMES USA.

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