Beazer Homes Turns To Profit In Q3 - Quick Facts

(RTTNews) - Beazer Homes USA Inc. (BZH) reported third-quarter net income of $12.2 million or $0.38 per share, compared to net loss of $12.4 million or $0.47 per share in the prior-year quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report profit of $0.35 per share. Analysts' estimates typically exclude special items.

New home orders grew 18.1 percent for the quarter with an average active community count that was 17.1 percent higher than a year ago. Absorption rates were especially strong at 3.1 sales per community per month for the quarter, while the average selling price ("ASP") increased to $318.0 thousand, the highest ASP for any quarter in the Company's history.

Total revenue for the latest third quarter grew to $429.44 million from $354.67 million in the prior year, while four analysts had a consensus revenue estimate of $446.39 million for the quarter.