Beazer Homes Reports First Quarter Fiscal 2026 Results
Key Terms
adjusted ebitda financial
sg&a financial
basis points financial
cancellation rate financial
net debt to net capitalization ratio financial
unsecured revolving credit facility financial
restricted stock award financial
schedule 13d regulatory
"Results for our first fiscal quarter of 2026 reflected persistent demand challenges and elevated incentives in the market," said Allan P. Merrill, the Company’s Chairman and Chief Executive Officer. "However, with national builders slowing starts last year and lower mortgage rates, we are cautiously optimistic for the spring selling season."
"As we navigate an uncertain environment, we remain focused on driving sequential margin improvements through the remainder of fiscal 2026 through construction cost reductions, favorable mix impacts, and strong performance from our newest communities. We will also realign our land portfolio through selective asset sales and use a portion of the proceeds to accelerate highly accretive share repurchases."
Speaking to Beazer’s Multi-Year Goals, Mr. Merrill said, "During the year we expect to make further progress toward our 2027 goals for community count, deleveraging, and book value per share growth. We are confident in our differentiated product strategy, the value of our assets, and our ability to generate improving returns over time, which positions the Company well to create long-term shareholder value.”
Beazer Homes Fiscal First Quarter 2026 Highlights and Comparison to Fiscal First Quarter 2025
-
Net loss was
, or net loss of$32.6 million per diluted share. This included a litigation-related charge recognized during the first fiscal quarter which reduced diluted earnings per share by$1.13 . During the fiscal first quarter 2025, net income was$0.23 , or$3.1 million per diluted share$0.10 -
Adjusted EBITDA was a loss of
, compared to Adjusted EBITDA of$11.2 million a year ago$23.0 million -
Homebuilding revenue was
, down$359.7 million 21.9% on a22.8% decrease in home closings to 700, partially offset by a1.2% increase in average selling price (ASP) to$513.9 thousand -
Homebuilding gross margin was
10.4% , down 480 basis points compared to a year ago. Excluding impairments, abandonments and amortized interest, homebuilding gross margin was14.0% , down 420 basis points -
SG&A as a percentage of total revenue was
17.9% , up 390 basis points -
Net new orders were 763, down
18.1% on a21.1% decrease in orders per community per month to 1.5, partially offset by a3.7% increase in average active community count to 167 -
Active community count at period-end of 168, up
3.1% -
Backlog dollar value was
, down$573.3 million 29.7% on a33.1% decrease in backlog units to 1,008, partially offset by a5.0% increase in ASP of homes in backlog to$568.7 thousand -
Land acquisition and land development spending was
, down$180.7 million 14.5% from$211.3 million -
Repurchased
of the Company's outstanding common stock through open market transactions$15.1 million -
Controlled lots of 24,832, down
14.0% from 28,874 -
Unrestricted cash at quarter end was
; total liquidity was$120.8 million $342.7 million -
Total debt to total capitalization ratio of
48.4% at quarter end compared to46.5% a year ago. Net debt to net capitalization ratio was45.6% at quarter end compared to44.5% a year ago
The following provides additional details on the Company's performance during the fiscal first quarter 2026:
Profitability. Net loss was
Orders. Net new orders for the first quarter decreased to 763, down
Backlog. The dollar value of homes in backlog as of December 31, 2025 was
Homebuilding Revenue. First quarter homebuilding revenue was
Homebuilding Gross Margin. Homebuilding gross margin was
SG&A Expenses. Selling, general and administrative expenses as a percentage of total revenue was
Land Position. For the current fiscal quarter, land acquisition and land development spending was
Liquidity. At the close of the first quarter, the Company had
Share Repurchases. During the quarter, the Company repurchased
Conference Call
The Company will hold a conference call on January 29, 2026 at 5:00 p.m. ET to discuss these results. Interested parties may listen to the conference call and view the Company's slide presentation on the "Investor Relations" page of the Company's website, www.beazer.com. In addition, the conference call will be available by telephone at 800-475-0542 (for international callers, dial 630-395-0227). To be admitted to the call, enter the pass code "8571348." A replay of the conference call will be available, until 11:59 PM ET on February 12, 2026 at 800-391-9853 (for international callers, dial 203-369-3269) with pass code "3740."
Summary results for the three months ended December 31, 2025 and 2024 are as follows:
Three Months Ended December 31, |
||||||||||
|
|
2025 |
|
|
|
2024 |
|
|
Change* |
|
New home orders, net of cancellations |
|
763 |
|
|
|
932 |
|
|
(18.1 |
)% |
Cancellation rates |
|
18.3 |
% |
|
|
16.5 |
% |
|
180 bps |
|
Orders per community per month |
|
1.5 |
|
|
|
1.9 |
|
|
(21.1 |
)% |
Average active community count |
|
167 |
|
|
|
161 |
|
|
3.7 |
% |
Active community count at quarter-end |
|
168 |
|
|
|
163 |
|
|
3.1 |
% |
Land acquisition and land development spending (in millions) |
$ |
180.7 |
|
|
$ |
211.3 |
|
|
(14.5 |
)% |
|
|
|
|
|
|
|||||
Total home closings |
|
700 |
|
|
|
907 |
|
|
(22.8 |
)% |
ASP from closings (in thousands) |
$ |
513.9 |
|
|
$ |
507.6 |
|
|
1.2 |
% |
Homebuilding revenue (in millions) |
$ |
359.7 |
|
|
$ |
460.4 |
|
|
(21.9 |
)% |
Homebuilding gross margin |
|
10.4 |
% |
|
|
15.2 |
% |
|
(480) bps |
|
Homebuilding gross margin, excluding impairments and abandonments (I&A) (Non-GAAP) |
|
10.8 |
% |
|
|
15.2 |
% |
|
(440) bps |
|
Homebuilding gross margin, excluding I&A and interest amortized to cost of sales (Non-GAAP) |
|
14.0 |
% |
|
|
18.2 |
% |
|
(420) bps |
|
SG&A expenses as a percentage of total revenue |
|
17.9 |
% |
|
|
14.0 |
% |
|
390 bps |
|
(Loss) income before income taxes (in millions) |
$ |
(31.1 |
) |
|
$ |
3.2 |
|
|
n/m(a) |
|
Expense from income taxes (in millions) |
$ |
1.5 |
|
|
$ |
— |
|
|
n/m(a) |
|
Net (loss) income (in millions) |
$ |
(32.6 |
) |
|
$ |
3.1 |
|
|
n/m(a) |
|
Basic (loss) income per share |
$ |
(1.13 |
) |
|
$ |
0.10 |
|
|
n/m(a) |
|
Diluted (loss) income per share |
$ |
(1.13 |
) |
|
$ |
0.10 |
|
|
n/m(a) |
|
|
|
|
|
|
|
|||||
Adjusted EBITDA (in millions) (Non-GAAP) |
$ |
(11.2 |
) |
|
$ |
23.0 |
|
|
n/m(a) |
|
LTM(b) Adjusted EBITDA (in millions) (Non-GAAP) |
$ |
123.4 |
|
|
$ |
228.4 |
|
|
(46.0 |
)% |
Total debt to total capitalization ratio |
|
48.4 |
% |
|
|
46.5 |
% |
|
190 bps |
|
Net debt to net capitalization ratio (Non-GAAP) |
|
45.6 |
% |
|
|
44.5 |
% |
|
110 bps |
|
* Change and totals are calculated using unrounded numbers. |
(a) n/m - indicates the percentage is "not meaningful." |
(b)LTM indicates amounts for the trailing 12 months. |
As of December 31, |
||||||||
|
|
2025 |
|
|
2024 |
|
Change |
|
Backlog units |
|
1,008 |
|
|
1,507 |
|
(33.1 |
)% |
Dollar value of backlog (in millions) |
$ |
573.3 |
|
$ |
816.0 |
|
(29.7 |
)% |
ASP in backlog (in thousands) |
$ |
568.7 |
|
$ |
541.5 |
|
5.0 |
% |
Land and lots controlled |
|
24,832 |
|
|
28,874 |
|
(14.0 |
)% |
About Beazer Homes
Beazer Homes (NYSE: BZH), headquartered in
This press release contains forward-looking statements. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including, among other things:
-
macroeconomic uncertainty, including high levels of inflation, elevated interest rates and insurance costs, stock market volatility, enhanced and/or altered government regulation resulting from legislation and/or executive orders, and historic changes in
U.S. trade policy, negatively impacting consumer sentiment and softening demand for the homes we sell; - elevated mortgage interest rates for prolonged periods, as well as further increases to, and reduced availability of, mortgage financing;
-
supply chain challenges (including as a result of
U.S. trade policies and retaliatory responses from other countries) negatively impacting our homebuilding production, including shortages of raw materials and other critical components such as windows, doors, and appliances; - our ability to meet or achieve our sustainability related goals, aspirations, initiatives, and our public statements and disclosures regarding them;
- inaccurate estimates related to homes to be delivered in the future (backlog), as they are subject to various cancellation risks that cannot be fully controlled;
- factors affecting margins, such as adjustments to home pricing, increased sales incentives and mortgage rate buy down programs in order to remain competitive;
- decreased revenues;
- decreased land values underlying land option agreements;
- increased land development costs in communities under development or delays or difficulties in implementing initiatives to reduce our cycle times and production and overhead cost structures;
- not being able to pass on cost increases (including cost increases due to increasing the energy efficiency of our homes) through pricing increases;
- the availability and cost of land and the risks associated with the future value of our inventory, including impairments and abandonment charges;
- our ability to raise debt and/or equity capital, due to factors such as limitations in the capital markets (including market volatility), adverse credit market conditions and financial institution disruptions, and our ability to otherwise meet our ongoing liquidity needs (which could cause us to fail to meet the terms of our covenants and other requirements under our various debt instruments and therefore trigger an acceleration of a significant portion or all of our outstanding debt obligations), including the impact of any downgrades of our credit ratings or reduction in our liquidity levels;
- market perceptions regarding any capital raising initiatives we may undertake (including future issuances of equity or debt capital);
- inefficient or ineffective allocation of capital, including with respect to planned share repurchases;
- market conditions and other factors outside our control that adversely impact our ability to execute on our planned share repurchases;
- changes in tax laws, such as the One Big Beautiful Bill Act (OBBBA), or otherwise regarding the deductibility of mortgage interest expenses and real estate taxes, including those resulting from regulatory guidance and interpretations issued with respect thereto, such as the IRS's guidance regarding heightened qualification requirements for federal credits for building energy-efficient homes;
- increased competition or delays in reacting to changing consumer preferences in home design;
- natural disasters, severe weather, or other related events that could result in delays in land development or home construction, increase our costs or decrease demand in the impacted areas;
- shortages of or increased costs for labor used in housing production, including as a result of federal or state legislation, and/or enforcement, and the level of quality and craftsmanship provided by such labor;
-
terrorist acts, protests and civil unrest, political uncertainty, acts of war or other factors over which the Company has no control, such as the conflict between
Russia andUkraine , the instability and tension inGaza , and other instabilities and tensions in theMiddle East ; - the potential recoverability of our deferred tax assets;
- potential delays or increased costs in obtaining necessary permits as a result of changes to, or complying with, laws, regulations or governmental policies, and possible penalties for failure to comply with such laws, regulations or governmental policies, including those related to the environment;
- the results of litigation or government proceedings and fulfillment of any related obligations;
- the impact of construction defect and home warranty claims;
- the cost and availability of insurance and surety bonds, as well as the sufficiency of these instruments to cover potential losses incurred;
- the impact of information technology failures, cybersecurity issues or data security breaches, including cybersecurity incidents deploying evolving artificial intelligence tools and incidents impacting third-party service providers that we depend on to conduct our business;
- the impact of governmental regulations on homebuilding in key markets, such as regulations limiting the availability of water and electricity (including availability of electrical equipment such as transformers and meters); and
- the success of our sustainability initiatives, as well as the success of any other related partnerships or pilot programs we may enter into in order to increase the energy efficiency of our homes.
Any forward-looking statement, including any statement expressing confidence regarding future outcomes, speaks only as of the date on which such statement is made and, except as required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible to predict all such factors.
-Tables Follow-
BEAZER HOMES USA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
||||||
|
||||||
|
Three Months Ended |
|||||
|
December 31, |
|||||
in thousands (except per share data) |
|
2025 |
|
|
|
2024 |
Total revenue |
$ |
363,491 |
|
|
$ |
468,953 |
Home construction and land sales expenses |
|
323,917 |
|
|
|
396,875 |
Inventory impairments and abandonments |
|
2,370 |
|
|
|
— |
Gross profit |
|
37,204 |
|
|
|
72,078 |
Commissions |
|
12,016 |
|
|
|
16,113 |
General and administrative expenses |
|
52,989 |
|
|
|
49,772 |
Depreciation and amortization |
|
4,042 |
|
|
|
4,055 |
Operating (loss) income |
|
(31,843 |
) |
|
|
2,138 |
Other income, net |
|
778 |
|
|
|
1,028 |
(Loss) income before income taxes |
|
(31,065 |
) |
|
|
3,166 |
Expense from income taxes |
|
1,532 |
|
|
|
36 |
Net (loss) income |
$ |
(32,597 |
) |
|
$ |
3,130 |
Weighted-average number of shares: |
|
|
|
|||
Basic |
|
28,928 |
|
|
|
30,426 |
Diluted |
|
28,928 |
|
|
|
30,800 |
(Loss) income per share: |
|
|
|
|||
Basic |
$ |
(1.13 |
) |
|
$ |
0.10 |
Diluted |
|
(1.13 |
) |
|
|
0.10 |
|
Three Months Ended |
||||||
|
December 31, |
||||||
Capitalized Interest in Inventory |
|
2025 |
|
|
|
2024 |
|
Capitalized interest in inventory, beginning of period |
$ |
131,845 |
|
|
$ |
124,182 |
|
Interest incurred |
|
19,756 |
|
|
|
20,161 |
|
Capitalized interest impaired |
|
(66 |
) |
|
|
— |
|
Capitalized interest amortized to home construction and land sales expenses |
|
(11,857 |
) |
|
|
(13,910 |
) |
Capitalized interest in inventory, end of period |
$ |
139,678 |
|
|
$ |
130,433 |
|
BEAZER HOMES USA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) |
|||||
|
|||||
in thousands (except share and per share data) |
December 31, 2025 |
|
September 30, 2025 |
||
ASSETS |
|
|
|
||
Cash and cash equivalents |
$ |
120,757 |
|
$ |
214,705 |
Restricted cash |
|
3,592 |
|
|
3,866 |
Accounts receivable (net of allowance of |
|
92,759 |
|
|
78,145 |
Inventory |
|
2,140,766 |
|
|
2,029,433 |
Deferred tax assets, net |
|
141,953 |
|
|
142,647 |
Property and equipment, net |
|
49,461 |
|
|
47,945 |
Operating lease right-of-use assets |
|
33,100 |
|
|
34,987 |
Goodwill |
|
11,376 |
|
|
11,376 |
Other assets |
|
45,949 |
|
|
46,604 |
Total assets |
$ |
2,639,713 |
|
$ |
2,609,708 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||
Trade accounts payable |
$ |
120,149 |
|
$ |
143,481 |
Operating lease liabilities |
|
27,093 |
|
|
27,762 |
Other liabilities |
|
167,168 |
|
|
160,445 |
Total debt (net of debt issuance costs of |
|
1,125,055 |
|
|
1,029,114 |
Total liabilities |
|
1,439,465 |
|
|
1,360,802 |
Stockholders’ equity: |
|
|
|
||
Preferred stock (par value |
|
— |
|
|
— |
Common stock (par value |
|
30 |
|
|
30 |
Paid-in capital |
|
809,042 |
|
|
825,103 |
Retained earnings |
|
391,176 |
|
|
423,773 |
Total stockholders’ equity |
|
1,200,248 |
|
|
1,248,906 |
Total liabilities and stockholders’ equity |
$ |
2,639,713 |
|
$ |
2,609,708 |
|
|
|
|
||
Inventory Breakdown |
|
|
|
||
Homes under construction |
$ |
701,010 |
|
$ |
692,327 |
Land under development |
|
1,090,862 |
|
|
1,065,702 |
Land held for future development |
|
19,489 |
|
|
19,489 |
Land held for sale |
|
73,218 |
|
|
47,368 |
Capitalized interest |
|
139,678 |
|
|
131,845 |
Model homes |
|
82,467 |
|
|
72,702 |
Land not owned under option agreements |
|
34,042 |
|
|
— |
Total inventory |
$ |
2,140,766 |
|
$ |
2,029,433 |
BEAZER HOMES USA, INC. SUPPLEMENTAL OPERATING AND FINANCIAL DATA |
|||
|
|||
|
Three Months Ended December 31, |
||
SELECTED OPERATING DATA |
2025 |
|
2024 |
Closings: |
|
|
|
West region |
436 |
|
581 |
East region |
177 |
|
201 |
Southeast region |
87 |
|
125 |
Total closings |
700 |
|
907 |
|
|
|
|
New orders, net of cancellations: |
|
|
|
West region |
458 |
|
589 |
East region |
176 |
|
227 |
Southeast region |
129 |
|
116 |
Total new orders, net |
763 |
|
932 |
|
As of December 31, |
||||
Backlog units: |
|
2025 |
|
|
2024 |
West region |
|
547 |
|
|
973 |
East region |
|
227 |
|
|
341 |
Southeast region |
|
234 |
|
|
193 |
Total backlog units |
|
1,008 |
|
|
1,507 |
Aggregate dollar value of homes in backlog (in millions) |
$ |
573.3 |
|
$ |
816.0 |
ASP in backlog (in thousands) |
$ |
568.7 |
|
$ |
541.5 |
in thousands |
Three Months Ended December 31, |
|||||
SUPPLEMENTAL FINANCIAL DATA |
|
2025 |
|
|
|
2024 |
Homebuilding revenue: |
|
|
|
|||
West region |
$ |
220,209 |
|
|
$ |
291,863 |
East region |
|
93,126 |
|
|
|
108,564 |
Southeast region |
|
46,407 |
|
|
|
59,995 |
Total homebuilding revenue |
$ |
359,742 |
|
|
$ |
460,422 |
|
|
|
|
|||
Revenue: |
|
|
|
|||
Homebuilding |
$ |
359,742 |
|
|
$ |
460,422 |
Land sales and other |
|
3,749 |
|
|
|
8,531 |
Total revenue |
$ |
363,491 |
|
|
$ |
468,953 |
|
|
|
|
|||
Gross profit: |
|
|
|
|||
Homebuilding |
$ |
37,416 |
|
|
$ |
69,975 |
Land sales and other |
|
(212 |
) |
|
|
2,103 |
Total gross profit |
$ |
37,204 |
|
|
$ |
72,078 |
Reconciliation of homebuilding gross profit and homebuilding gross margin (GAAP measures) to homebuilding gross profit and the related gross margin excluding impairments and abandonments and interest amortized to cost of sales (non-GAAP measures) is provided for each period discussed below. Management believes that this information assists investors in comparing the operating characteristics of homebuilding activities by eliminating many of the differences in companies' respective level of impairments and level of debt. These non-GAAP financial measures may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.
|
Three Months Ended December 31, |
||||||||||
in thousands |
2025 |
|
|
2024 |
|
||||||
Homebuilding gross profit/margin (GAAP) |
$ |
37,416 |
10.4 |
% |
|
$ |
69,975 |
15.2 |
% |
||
Inventory impairments and abandonments (I&A) |
|
1,325 |
|
|
|
— |
|
||||
Homebuilding gross profit/margin excluding I&A (Non-GAAP) |
|
38,741 |
10.8 |
% |
|
|
69,975 |
15.2 |
% |
||
Interest amortized to cost of sales |
|
11,754 |
|
|
|
13,910 |
|
||||
Homebuilding gross profit/margin excluding I&A and interest amortized to cost of sales (Non-GAAP) |
$ |
50,495 |
14.0 |
% |
|
$ |
83,885 |
18.2 |
% |
||
Reconciliation of Net (Loss) Income (GAAP measure) to Adjusted EBITDA (Non-GAAP measure) is provided for each period discussed below. Management believes that Adjusted EBITDA assists investors in understanding and comparing core operating results and underlying business trends by eliminating many of the differences in companies' respective capitalization, tax position, level of impairments, and other non-recurring items. This non-GAAP financial measure may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.
|
Three Months Ended December 31, |
|
LTM Ended December 31,(a) |
|||||||||||
in thousands |
|
2025 |
|
|
|
2024 |
|
|
2025 |
|
|
|
2024 |
|
Net (loss) income (GAAP) |
$ |
(32,597 |
) |
|
$ |
3,130 |
|
$ |
9,861 |
|
|
$ |
121,577 |
|
Expense from income taxes |
|
1,532 |
|
|
|
36 |
|
|
(3,242 |
) |
|
|
17,765 |
|
Interest amortized to home construction and land sales expenses and capitalized interest impaired |
|
11,923 |
|
|
|
13,910 |
|
|
76,879 |
|
|
|
70,953 |
|
EBIT (Non-GAAP) |
|
(19,142 |
) |
|
|
17,076 |
|
|
83,498 |
|
|
|
210,295 |
|
Depreciation and amortization |
|
4,042 |
|
|
|
4,055 |
|
|
19,155 |
|
|
|
16,689 |
|
EBITDA (Non-GAAP) |
|
(15,100 |
) |
|
|
21,131 |
|
|
102,653 |
|
|
|
226,984 |
|
Stock-based compensation expense |
|
1,554 |
|
|
|
1,913 |
|
|
6,979 |
|
|
|
7,631 |
|
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
— |
|
|
|
424 |
|
Inventory impairments and abandonments(b) |
|
2,304 |
|
|
|
— |
|
|
13,801 |
|
|
|
1,996 |
|
Gain on sale of investment(c) |
|
— |
|
|
|
— |
|
|
— |
|
|
|
(8,591 |
) |
Adjusted EBITDA (Non-GAAP) |
$ |
(11,242 |
) |
|
$ |
23,044 |
|
$ |
123,433 |
|
|
$ |
228,444 |
|
(a) |
"LTM" indicates amounts for the trailing 12 months. |
|
(b) |
In periods during which we impaired certain of our inventory assets, capitalized interest that is impaired is included in the line above titled "Interest amortized to home construction and land sales expenses and capitalized interest impaired." |
|
(c) |
We previously held a minority interest in a technology company specializing in digital marketing for new home communities, which was sold during the quarter ended March 31, 2024. In exchange for the previously held investment, we received cash in escrow along with a minority partnership interest in the acquiring company, which was recorded within other assets in our condensed consolidated balance sheets. The resulting gain of |
Reconciliation of total debt to total capitalization ratio (GAAP measure) to net debt to net capitalization ratio (non-GAAP measure) is provided for each period below. Management believes that net debt to net capitalization ratio is useful in understanding the leverage employed in our operations and as an indicator of our ability to obtain financing. This non-GAAP financial measure may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.
in thousands |
As of December 31,
|
|
As of December 31,
|
||||
Total debt (GAAP) |
$ |
1,125,055 |
|
|
$ |
1,071,290 |
|
Stockholders' equity (GAAP) |
|
1,200,248 |
|
|
|
1,234,048 |
|
Total capitalization (GAAP) |
$ |
2,325,303 |
|
|
$ |
2,305,338 |
|
Total debt to total capitalization ratio (GAAP) |
|
48.4 |
% |
|
|
46.5 |
% |
|
|
|
|
||||
Total debt (GAAP) |
$ |
1,125,055 |
|
|
$ |
1,071,290 |
|
Less: cash and cash equivalents (GAAP) |
|
120,757 |
|
|
|
80,379 |
|
Net debt (Non-GAAP) |
|
1,004,298 |
|
|
|
990,911 |
|
Stockholders' equity (GAAP) |
|
1,200,248 |
|
|
|
1,234,048 |
|
Net capitalization (Non-GAAP) |
$ |
2,204,546 |
|
|
$ |
2,224,959 |
|
Net debt to net capitalization ratio (Non-GAAP) |
|
45.6 |
% |
|
|
44.5 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260129820038/en/
Beazer Homes USA, Inc.
David I. Goldberg
Sr. Vice President & Chief Financial Officer
770-829-3700
Mark Chekanow, CFA
Vice President, Investor Relations
917-365-0085
Source: Beazer Homes USA, Inc.