Beazer Homes USA Inc. Q1 2025 10-Q Filing
Ticker: BZH · Form: 10-Q · Filed: Jan 30, 2025 · CIK: 915840
Sentiment: neutral
Topics: 10-Q, real-estate, housing
TL;DR
Beazer Homes filed its Q1 2025 10-Q. Financials look steady.
AI Summary
Beazer Homes USA Inc. filed its 10-Q for the period ending December 31, 2024. The filing details the company's financial performance and position for the first quarter of fiscal year 2025. Key financial data and operational updates are provided, reflecting the company's activities in the homebuilding sector.
Why It Matters
This filing provides investors and analysts with a quarterly update on Beazer Homes' financial health and operational performance, crucial for understanding the company's trajectory in the housing market.
Risk Assessment
Risk Level: medium — Quarterly filings can reveal shifts in financial performance or operational challenges that may impact stock value.
Key Numbers
- 20241231 — Period End Date (Fiscal quarter ending December 31, 2024)
- 20250130 — Filing Date (Date the 10-Q was filed with the SEC)
- 0930 — Fiscal Year End (Company's fiscal year concludes on September 30th)
Key Players & Entities
- BEAZER HOMES USA INC (company) — Filer
- 2002 SUMMIT BLVD NE (location) — Business and Mail Address
- ATLANTA (location) — City
- GA (location) — State
- 30319 (location) — ZIP Code
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended December 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on January 30, 2025.
What is the company's primary business as indicated by its SIC code?
The company's SIC code is 1531, which corresponds to Operative Builders.
What is Beazer Homes USA Inc.'s fiscal year end?
Beazer Homes USA Inc.'s fiscal year ends on September 30.
What is the company's business and mailing address?
The company's business and mailing address is 2002 Summit Blvd NE, 15th Floor, Atlanta, GA 30319.
Filing Stats: 4,535 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2025-01-30 16:27:00
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value BZH New York Stock Exchange
Filing Documents
- bzh-20241231.htm (10-Q) — 1179KB
- bzh-123124ex101.htm (EX-10.1) — 23KB
- bzh-123124ex102.htm (EX-10.2) — 45KB
- bzh-123124ex311.htm (EX-31.1) — 10KB
- bzh-123124ex312.htm (EX-31.2) — 10KB
- bzh-123124ex321.htm (EX-32.1) — 5KB
- bzh-123124ex322.htm (EX-32.2) — 5KB
- 0000915840-25-000006.txt ( ) — 6445KB
- bzh-20241231.xsd (EX-101.SCH) — 42KB
- bzh-20241231_cal.xml (EX-101.CAL) — 61KB
- bzh-20241231_def.xml (EX-101.DEF) — 162KB
- bzh-20241231_lab.xml (EX-101.LAB) — 539KB
- bzh-20241231_pre.xml (EX-101.PRE) — 386KB
- bzh-20241231_htm.xml (XML) — 952KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 2
Financial Statements
Item 1. Financial Statements 2 Condensed Consolidated Balance Sheets as of December 31, 2024 and September 30, 2024 (Unaudited) 2 Condensed Consolidated Statements of Operations for the three months ended December 31, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity for the three months ended December 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the three months ended December 31, 2024 and 2023 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 39
Controls and Procedures
Item 4. Controls and Procedures 39
OTHER INFORMATION
PART II. OTHER INFORMATION 39
Legal Proceedings
Item 1. Legal Proceedings 39
Risk Factors
Item 1A. Risk Factors 40
Other Information
Item 5. Other Information 40
Exhibits
Item 6. Exhibits 40
SIGNATURES
SIGNATURES 41 1 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements BEAZER HOMES USA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) in thousands (except share and per share data) December 31, 2024 September 30, 2024 ASSETS Cash and cash equivalents $ 80,379 $ 203,907 Restricted cash 39,088 38,703 Accounts receivable (net of allowance of $ 284 and $ 284 , respectively) 70,721 65,423 Owned inventory 2,164,074 2,040,640 Deferred tax assets, net 131,096 128,525 Property and equipment, net 39,792 38,628 Operating lease right-of-use assets 18,097 18,356 Goodwill 11,376 11,376 Other assets 45,905 45,969 Total assets $ 2,600,528 $ 2,591,527 LIABILITIES AND STOCKHOLDERS' EQUITY Trade accounts payable $ 151,717 $ 164,389 Operating lease liabilities 19,570 19,778 Other liabilities 123,903 149,900 Total debt (net of debt issuance costs of $ 7,885 and $ 8,310 , respectively) 1,071,290 1,025,349 Total liabilities 1,366,480 1,359,416 Stockholders' equity: Preferred stock (par value $ 0.01 per share, 5,000,000 shares authorized, no shares issued) — — Common stock (par value $ 0.001 per share, 63,000,000 shares authorized, 31,201,705 issued and outstanding and 31,047,510 issued and outstanding, respectively) 31 31 Paid-in capital 852,702 853,895 Retained earnings 381,315 378,185 Total stockholders' equity 1,234,048 1,232,111 Total liabilities and stockholders' equity $ 2,600,528 $ 2,591,527 See accompanying notes to condensed consolidated financial statements. 2 Table of Contents BEAZER HOMES USA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended December 31, in thousands (except per share data) 2024 2023 Total revenue $ 468,953 $ 386,818 Home construction and land sales expenses 396,875 309,088 Gross profit 72,078 77,730 Commissions 16,113 13,246 General and administrative expenses 49,772 41,986 Depreciation and amortization 4,055 2,233 Operating income 2,138 20,265 Loss on extinguishment of debt, net — ( 13 ) Other