Beazer Homes Q3 Loss Reduces - Quick Facts

(RTTNews) - Homebuilder Beazer Homes USA, Inc. (BZH) announced a significantly narrower third-quarter net loss of $5.79 million, or $0.23 a share, versus a loss of $39.88 million, or $2.01 a share, a year earlier. On average, 9 analysts polled by Thomson Reuters expected loss per share of $0.37 for the quarter. Analysts' estimates typically exclude one-time items.

During the recent quarter, the company clocked $314.44 million of total revenue, compared with the previous year's $254.56 million, while it came in below consensus estimates of $332.21 million. Quarterly new home orders dropped 11.2% year-over-year to 1,381, from 1,555.

The company said its third-quarter results included notable progress on its Path-to-Profitability strategies, including increased margins and higher sales per active community.

Beazer Homes' Chief Executive noted, "With improved homebuilding gross margins, higher average sales prices and strict control over operating expenses, we are poised to report positive net income in our fiscal fourth quarter and expect to report our first full year of profitability in nearly a decade for fiscal 2014."