“We’re well positioned heading into the spring selling season, as demand patterns in January continue to point to a steady housing recovery in the coming year.”
–Allan Merrill, CEO, Beazer Homes
Atlanta-based Beazer Homes USA Inc. has a long and rather astounding history that reaches all the way back to 1696. Originally a British homebuilder, Beazer expanded into the U.S. market in 1986 in its modern iteration as Beazer Homes USA, where it quickly spread throughout the country. The company went public in 1994 and consistently ranks as one of the nation’s top homebuilders.
Beazer Homes USA builds all across the nation and has contributed communities to Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, North Carolina, South Carolina, Tennessee, Texas, and Virginia.
Even after the initial building is complete, Beazer is active in the communities they help develop. This past May, Beazer Homes Division Presidents Bruce Craig and Troy Radelat participated in the BP MS 150 bike race in Texas, the largest bike MS event in the country.
Beazer gives back to the environment as much as the community. In 2014, Beazer Homes was recognized by the U.S. Environmental Protection Agency (EPA) ENERGY STAR® program as Partner of the Year, the EPA’s highest honor; Beazer Homes received the award for outstanding contributions to organizations that protect the environment through superior energy efficiency.
Every Beazer home undergoes a process of inspections, testing, and verification to meet the strict requirements set by the EPA. Homebuyers even receive official certificates verifying that Beazer homes meet ENERGY STAR® requirements.
All Beazer homes also receive excellent HERS scores, the standard rating system for home energy consumption. Older homes score around 130, while standard new homes typically score around 100. The average new Beazer home scores a 65, which indicates that the home is highly efficient with power usage and cost-effective for the homeowner.
Homebuyers have taken note and financials have been robust for Beazer over the last year. In the third fiscal quarter, Beazer made it into the black; the company was helped along by rising home orders, closings, and home prices. Beazer reported that revenue spiked 21 percent to $429.4 million, swinging to a profit of $12.2 million, or 38 cents a share. New home orders jumped 18.1 percent to 1,524, total home closings rose 4.2 percent to 1,293, and average home sales prices increased 11.7 percent to $318,000.
On Feb. 4, Beazer announced its financial results for the three months ended Dec. 31, 2015, and it was more good news for Beazer investors.
“We are pleased with our fiscal first quarter results, as our focus on operational improvements allowed us to generate strong top line growth from a combination of more closings and a higher average selling price, and substantially improved profitability,” said Allan Merrill, CEO of Beazer Homes.
Merrill continued, “We’re well positioned heading into the spring selling season, as demand patterns in January continue to point to a steady housing recovery in the coming year. At the same time, we will take further steps to reduce our leverage, reflecting our view that doing so will create long-term shareholder value.”