Beazer Homes reports Q2 EPS 42c, consensus 27c

Reports Q2 revenue $565.34M, consensus $541.83M. “In our second quarter we made progress towards our Multi-Year Goals and surpassed our profitability expectations despite challenging macroeconomic conditions and declining consumer sentiment. Our growing community count, improved construction cycle times and stable gross margins allowed us to generate Adjusted EBITDA of $38.8 million, net income of $12.8 million and earnings per diluted share of $0.42,” said Allan P. Merrill, the Company’s Chairman and Chief Executive Officer. “We also repurchased approximately 905,000 shares of our common stock for $20.6 million.”