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Beazer Homes USA (BZH) investor relations material
Beazer Homes USA Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary13 Nov, 2025
Executive summary
Fiscal 2025 saw growth in active community count, progress on multi-year goals, and prudent balance sheet management amid a challenging new home sales environment, with improved sales pace and profitability in Q4, especially in Texas.
Achieved a 14% year-over-year increase in average active community count to 164, with book value per share growing to $42.57, supported by profitability and share repurchases.
Implemented operational enhancements, including $10,000 per home in cost savings from rebidding material and labor, and $12 million in annualized savings from headcount reductions.
Positioned as a leader in energy-efficient homebuilding, with industry-leading HERS scores and significant homeowner savings.
Strategic focus on affordability, operational efficiency, and differentiated value proposition, including energy-efficient homes and lower total cost of ownership.
Financial highlights
FY25 total revenue rose 1.8% to $2.37 billion, with home closings flat at 4,427 units and average selling price up 0.9% to $520,100.
FY25 adjusted EBITDA fell 35.2% to $157.7 million; Q4 adjusted EBITDA was $63.8 million.
FY25 net income from continuing operations decreased 67.5% to $45.6 million; Q4 net income was $30.0 million.
Homebuilding gross margin for FY25 was 17.7%, with Q4 margin at 17.2%; SG&A as a percentage of revenue was 11.9% for FY25.
Total liquidity at year-end was nearly $540 million, including $215 million in unrestricted cash.
Outlook and guidance
Q1 FY26 guidance: ~900 homes sold (up to 75% specs), ~800 closings, ASP ~$515,000, adjusted gross margin ~16%, net loss of ~$0.50 per diluted share.
FY26 goals: 5–10% increase in closings, margin improvement by Q4, and adjusted EBITDA at least equal to FY25.
Community count expected to reach 170 in Q1 and over 200 within two years; net leverage targeted to decrease to low 30% range by end of FY27.
By FY27, book value per share targeted in the mid-$50s with double-digit CAGR.
Detail Q4 FY26 margin improvement catalysts
Explain the rationale for FY26 asset sales
What is the desired spec home ratio long-term?
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Next Beazer Homes USA earnings date
Q1 202629 Jan, 2026
Next Beazer Homes USA earnings date
Q1 202629 Jan, 2026
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Frequently asked questions
Beazer Homes USA, Inc. operates as a home builder in the United States. It designs, constructs, and sells single-family homes. The company has operations in Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, North Carolina, South Carolina, Tennessee, Texas, and Virginia. Beazer Homes USA also provides mortgage origination and title services; and insurance agency services. Beazer Homes USA, Inc. was founded in 1985 and is headquartered in Atlanta, Georgia.
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