The following is a summary of the Beazer Homes USA, Inc. (BZH) Q4 2024 Earnings Call Transcript:
Financial Performance:
Beazer Homes USA reported adjusted EBITDA of $243 million and earnings per share of $4.53 for fiscal 2024.
Revenue is anticipated to grow over 10%, supported by an 18 to 22 community count increase.
Gross margins faced pressure, ending the fiscal year at 19% but expected to improve slightly to between 19.5% and 20.5% in fiscal 2025.Closing over 925 homes with an average selling price (ASP) around $515,000 projected for Q1 of fiscal 2025.
Business Progress:
Achieved a significant milestone in Zero Energy Ready home construction, making up 92% of starts in the second half of FY 2024.
Launched new sales and production strategies to recover and boost sales in key markets like Houston.
Positioned for community count growth of 18 to 22 communities in 2025, targeting more than 200 communities by end of fiscal 2026.
Opportunities:
Significant opportunities in addressing a structural deficit in housing supply and favorable demand demographics in target customer segments.
Continued strategic land investments, planning to boost land spend to $850 million in 2025.
Risks:
Pressured new home sales environment due to sustained high mortgage rates and economic uncertainty, without significant expected rate reductions in the coming year.
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