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Beazer Homes USA Inc. (BZH-4.09%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenue to $468,953,000 from $386,818,000 in the same quarter the previous year. This increase is attributed to higher homebuilding revenue, which rose to $460,422,000 from $380,919,000.
Homebuilding gross profit for the quarter was $69,975,000, down from $75,943,000 in the previous year, with the decline attributed to a decrease in gross margin to 15.2% from 19.9%.
Operating income for the quarter was $2,138,000, down from $20,265,000 in the previous year. This decrease is due to lower gross profit and higher selling, general, and administrative expenses.
Net income for the quarter was $3,130,000, down from $21,728,000 in the previous year. The decrease is primarily due to lower operating income and higher income tax expenses.
Cash used in operating activities was $159,365,000, while cash used in investing activities was $5,672,000. Cash provided by financing activities was $41,894,000.
Beazer Homes reported a working capital of $2,600,528,000 as of December 31, 2024. The company continues to focus on expanding its community count and managing its land acquisition and development activities.
The filing also details various financial agreements, including an increase in the company's unsecured revolving credit facility from $300,000,000 to $365,000,000.
Beazer Homes does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on its strategic goals, including increasing its active community count and achieving its target of 100% of home starts as Zero Energy Ready by the end of 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Beazer Homes USA Inc. quarterly 10-Q report dated January 30, 2025. To report an error, please email earnings@qz.com.