Beazer Homes USA Inc
BZH.US Full Coverage
Last updated:
Volume
52W avg
Day Range
52W High
52W Low
Market Cap
Div Yield
Forward P/E
P/B
Headlines
FY2026 Q2
Beazer Homes cut its full‑year outlook, now deeming EBITDA growth unlikely after Q2 adjusted EBITDA came in at $2.6 million versus the roughly $5 million target. The quarter posted a diluted loss of $0.03 per share, narrowly beating the $0.75 loss guidance thanks to a $17.6 million tax benefit, while the share of higher‑margin to‑be‑built homes rose to 43% of gross sales—the highest since 2024. Management also trimmed its Q4 gross‑margin expansion forecast to 200‑300 basis points and repurchased $30 million of stock, emphasizing shareholder returns amid softer demand.
Diluted Loss Per Share (GAAP)
($0.03)
vs. $0.42
Adjusted EBITDA
$2.6M
-93.4%
To-Be-Built Share of Gross Sales
43%
>+1,000 bps
Sales Pace (Orders/Comm./Month)
2.1
-7.2%
Q4 Adj. Gross Margin Expansion Guidance
200 - 300 bps
Lowered
What We're Watching
Risk
Macro Headwinds vs. Sales Pace
📅
Next Quarter
What to Monitor
Whether the sales pace can be sustained above the revised 2.0 per community/month floor, especially given management's commentary that March and April sales plateaued rather than showing a seasonal lift.
Why It Matters
The entire revised back-half plan is now predicated on this lower sales pace holding up against new headwinds from higher mortgage rates and energy costs. Any further deterioration would severely challenge the company's revised outlook.
Operational
To-Be-Built (TBB) Sales Mix Trajectory
📅
Next 1-2 Quarters
What to Monitor
The ability to maintain or grow the TBB sales mix from the 43% level achieved in Q2, particularly against the typical seasonal trend of higher spec sales in the fiscal fourth quarter.
Why It Matters
Continued progress on the TBB mix is a critical leading indicator for achieving the guided 200-300 bps of Q4 margin expansion and validates the strategy of focusing on higher-value sales over pure volume.
Strategic
Effectiveness of Energy-Efficiency Value Proposition
📅
Ongoing
What to Monitor
Qualitative commentary or data points demonstrating that the energy-efficiency message is successfully driving sales or preserving margins relative to peers in an environment of surging consumer utility costs.
Why It Matters
This is the company's core strategic differentiator. Its effectiveness in a challenging macro environment is crucial to proving the long-term viability of competing on value and total cost of ownership rather than on price.
Risk
Margin Headwind from Rate Buydown Costs
📅
Q3 & Q4 2026
What to Monitor
The degree to which the rising cost of mortgage rate buydowns, which management explicitly called out as a headwind, is offsetting margin gains from cost savings and mix shifts.
Why It Matters
This is a direct, external pressure on profitability that could make achieving the 200-300 bps margin expansion target more difficult, even if other internal initiatives are successful.
Opportunity
New Community Contribution
📅
Next Quarter
What to Monitor
The contribution percentage from new communities in Q3 sales, and whether it continues to ramp up from the 34% level reported in Q2.
Why It Matters
These newer communities are the primary engine for the guided ASP and margin lift in the second half of the year. A sustained increase provides the most tangible evidence that the back-half profitability improvement is on track.
