Beazer Homes USA (BZH) Q3 2026 earnings summary

Executive summary

• Entered into a definitive all-cash merger agreement with Dream Finders Homes at $33.50 per share, valuing the company at $2.2 billion; pending stockholder and regulatory approval.

• Third quarter 2026 saw continued soft sales pace due to low consumer sentiment, elevated mortgage rates, and macroeconomic uncertainty, but margin-enhancing initiatives were executed.

• Orders per community per month rose to 1.8 from 1.7 year-over-year, with net new orders up 4.5% to 900 units.

• Active community count increased slightly to 170, with a strategic focus on reaching 200 by fiscal 2027.

• Withdrew previously issued financial outlook and canceled earnings call due to the pending merger.

Financial highlights

• Q3 2026 revenue was $516.3 million, down 5.3% year-over-year; nine-month revenue was $1.29 billion, down 18.4%.

• Net loss for Q3 was $4.2 million ($0.16 per diluted share), compared to $0.3 million loss prior year; nine-month net loss was $37.7 million (vs. $15.6 million income prior year).

• Homebuilding gross margin for Q3 was 13.6% (up 10 bps YoY); excluding impairments and interest, margin was 16.9% (down 150 bps YoY).

• Adjusted EBITDA for Q3 was $15.6 million, down from $32.1 million YoY; nine-month Adjusted EBITDA was $7.0 million, down from $94.0 million.

• SG&A as a percentage of revenue increased to 14.1% in Q3 (from 13.2% YoY); SG&A expense was $72.5 million, nearly flat YoY.

Outlook and guidance

• Company expects to continue focusing on margin improvement, capital efficiency, and community count growth.

• Strategic use of lot option agreements and divestiture of non-strategic assets to support future growth.

• Withdrew all previously issued financial outlook due to the pending merger.

• Merger with Dream Finders Homes, Inc. announced in August 2026, expected to close in Q4 2026.