Beazer Homes (NYSE: BZH) boosts revolving credit facility to $525M and extends term

Rhea-AI Filing Summary

Beazer Homes USA, Inc. amended its senior unsecured revolving credit facility, expanding the available aggregate commitment by $160 million to $525 million. The amendment also extends the facility’s maturity date from March 15, 2028 to March 13, 2030, providing additional liquidity and a longer funding horizon.

The facility is arranged by a syndicate led by JP Morgan Chase Bank, N.A., with Royal Bank of Canada, Truist Bank and Regions Bank serving as syndication agents. Management highlighted that the expanded revolver supports its strategy around community growth, de-leveraging and increasing book value per share.

Insights

Credit & capital structure analyst

Beazer extends and upsizes its revolver, modestly strengthening liquidity.

Beazer Homes increased its senior unsecured revolving credit facility to $525 million and pushed the maturity out to March 13, 2030. The upsizing by $160 million adds committed borrowing capacity, while the longer term reduces near‑ to mid‑term refinancing pressure on this line.

This is a syndicated facility led by JP Morgan Chase Bank, N.A. with several major banks as syndication agents, signaling continued lender support. The company links this flexibility to its Multi-Year Goals for community growth, de-leveraging and higher book value per share, though actual benefits will depend on housing demand and cost trends.

The filing does not detail current revolver usage or specific covenant changes, so the immediate balance sheet impact is not quantified. Subsequent quarterly and annual reports will provide clearer visibility into how actively this expanded capacity is drawn and how it interacts with the company’s broader debt profile.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest reported event): March 13, 2026

BEAZER HOMES USA, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-12822

58-2086934

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

2002 Summit Boulevard, 15th Floor

Atlanta, Georgia 30319

(Address of Principal Executive Offices)

(770) 829-3700

(Registrant’s telephone number, including area code)

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, $0.001 par value			BZH			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 1.01. Entry into a Material Definitive Agreement.

On March 13, 2026, Beazer Homes USA, Inc. (the “Company”) executed a third amendment (the “Amendment”) to the Credit Agreement, dated as of October 13, 2022, among the Company, the several lenders from time to time parties thereto and JPMorgan Chase Bank, N.A., as an issuing lender and administrative agent (as amended on and prior to March 13, 2026, the “Credit Agreement”). The Amendment, among other things, extends the termination date under the Credit Agreement from March 15, 2028 to March 13, 2030 and increases the aggregate commitment amount under the Credit Agreement to $525 million.

The foregoing description of the Amendment is qualified in its entirety to the full text of the Amendment filed herewith as Exhibit 10.1 and incorporated in this Item 1.01 by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.

Item 7.01 Regulation FD.

On March 17, 2026, the Company issued a press release announcing the Amendment described in Item 1.01 above. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information provided pursuant to this Item 7.01, including Exhibit 99.1 in Item 9.01, is "furnished" and shall not be deemed to be "filed" with the Securities and Exchange Commission or incorporated by reference in any filing under the Securities and Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filings.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1			Third Amendment, dated as of March 13, 2026, to the Credit Agreement, dated as of October 13, 2022, among the Company, the several lenders from time to time parties thereto and JPMorgan Chase Bank, N.A., as an issuing lender and administrative agent (as further amended, supplemented or otherwise modified from time to time).
99.1			Press Release dated March 17, 2026
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BEAZER HOMES USA, Inc.

Date:

March 17, 2026

By:

/s/ David I. Goldberg

David I. Goldberg Senior Vice President, Chief Financial Officer and Treasurer

EXHIBIT 99.1

Beazer Homes Announces Expansion of Revolving Credit Facility to $525 million

ATLANTA—(BUSINESS WIRE)—March 17, 2026—Beazer Homes USA, Inc. (the “Company”) (NYSE: BZH) announced that it has entered into a third amendment to its existing senior unsecured revolving credit facility (“Credit Facility”) that increased the available aggregate commitment amount by $160 million to $525 million. The amendment also extends the maturity date of the Credit Facility from March 15, 2028 to March 13, 2030.

The amendment to the Credit Facility was arranged by JP Morgan Chase Bank, N.A., Royal Bank of Canada, Truist Securities, Inc. and Regions Capital Markets, a division of Regions Bank. Royal Bank of Canada, Truist Bank and Regions Bank served as Syndication Agents, and JP Morgan Chase Bank, N.A., as Administrative Agent.

“We continue to execute our differentiated product strategy and progress toward achieving our Multi-Year Goals for growing community count, de-leveraging, and increasing book value per share,” said David Goldberg, Senior Vice President and Chief Financial Officer. “The expanded revolver provides increased liquidity and financial flexibility as we pursue these goals and reflects the broad support from our valued banking partners.”

About Beazer Homes

Beazer Homes (NYSE: BZH), headquartered in Atlanta, Georgia, is a leading national homebuilder in energy-efficient construction. Building on a legacy spanning nine generations, Beazer crafts homes that deliver savings and lasting value. Our trusted team of experts guide homebuyers through the building and purchasing process to deliver an industry-leading customer experience. With curated design options, buyers can personalize their homes with confidence. Beazer's exclusive Mortgage Choice program provides access to competitive loan offers from multiple lenders, helping homebuyers choose the best financing for their individual needs. Beazer builds in 13 states nationwide. Learn more at beazer.com or follow us @BeazerHomes.

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 and Ukraine, the instability and tension in Gaza, and other instabilities and tensions in the Middle 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.

CONTACT: Beazer Homes USA, Inc.

Mark Chekanow, CFA

Vice President, Investor Relations

917.365.0085

investor.relations@beazer.com

FAQ

What change did Beazer Homes (BZH) make to its revolving credit facility?

Beazer Homes amended its senior unsecured revolving credit facility, increasing the available aggregate commitment to $525 million and extending the maturity to March 13, 2030. This replaces the prior maturity of March 15, 2028 and adds $160 million of committed capacity.

How much did Beazer Homes (BZH) increase its credit facility by?

Beazer Homes increased its revolving credit facility by $160 million, bringing the total available aggregate commitment to $525 million. Management describes the expanded revolver as providing additional liquidity and financial flexibility to support its stated Multi-Year Goals and ongoing homebuilding operations.

When does Beazer Homes’ amended revolving credit facility now mature?

The amended Beazer Homes revolving credit facility now matures on March 13, 2030. This extends the prior maturity date of March 15, 2028, giving the company a longer committed funding horizon from its bank group to support operations and capital allocation plans.

Which banks arranged Beazer Homes’ expanded revolving credit facility?

The amended Beazer Homes credit facility was arranged by JP Morgan Chase Bank, N.A., Royal Bank of Canada, Truist Securities, Inc., and Regions Capital Markets. Royal Bank of Canada, Truist Bank and Regions Bank act as Syndication Agents, with JP Morgan serving as Administrative Agent for the facility.

Why does Beazer Homes (BZH) say the expanded revolver is important?

Beazer Homes states the expanded revolver provides increased liquidity and financial flexibility as it pursues Multi-Year Goals. These goals include growing community count, de-leveraging the balance sheet, and increasing book value per share, all within its energy-efficient homebuilding strategy.

Is the Beazer Homes (BZH) press release in this 8-K considered filed with the SEC?

The press release attached as Exhibit 99.1 is furnished, not filed. It is not deemed filed with the SEC or incorporated into other securities law filings, except where specifically incorporated by reference in a future registration statement or report.

Filing Exhibits & Attachments

6 documents

Press Releases

• EX-99.1 EX-99.1 22.2 KB

Agreements & Contracts

• EX-10.1 EX-10.1 1.1 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.0 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 6.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 26.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 18.1 KB