Beazer Homes Reports Lower Q1 Earnings Despite Higher Revenue

(RTTNews) - Beazer Homes USA, Inc. (BZH) Thursday reported a decline in earnings for the fiscal second quarter ended March 31, as rising expenses offset revenue growth.

Net income for the quarter was $12.8 million, down from $39.2 million in the prior-year period. Earnings per share fell to $0.42 from $1.26.

Total revenue rose to $565.3 million, compared to $541.5 million a year earlier, driven by higher homebuilding activity. However, home construction and land sales expenses increased to $478.8 million from $439.7 million.

Operating income fell sharply to $13.4 million from $36.0 million in the same quarter last year.

BZH closed Thursday's trading at $19.53 down $0.03 or 0.15 percent on the New York Stock Exchange.