Beazer Homes (BZH) Accelerates Pace of Share Repurchases

Beazer Homes USA, Inc. (NYSE: BZH) today announced that it is accelerating the pace of its share repurchases in light of recent share price dislocation. The Company will continue to repurchase shares pursuant to the Company’s previously authorized share repurchase program, under which approximately $24.8 million remains available.

Since January 30th, after reporting earnings for the first quarter of 2025, the Company has repurchased approximately $4.1 million of its shares at a weighted average price of $21.86. The Company plans to increase the pace of its repurchases in light of current market conditions.

"We believe accelerating the pace of our share repurchases makes a lot of sense. The ability to buy back our shares at a significant discount to book value represents a compelling investment opportunity and we plan to act on it,” said Allan P. Merrill, Chairman and Chief Executive Officer.

Considering the acceleration of its share repurchase program, the Company also announced that debt reduction is expected to moderate in the near term. Specifically, the Company now projects its net debt to net capitalization ratio will be in the low 30% range by the end of fiscal 2026 and will be in the mid-to-high 30% range by the end of fiscal 2025. Notwithstanding this near-term moderation in leverage reduction, the Company remains committed to its long-term goal of reducing its net debt to net capitalization ratio below 30%. Furthermore, the Company reaffirmed its outlook for its two other Multi-Year Goals: reaching 200 active communities by the end of fiscal 2026 and starting 100% of its homes qualified as Zero Energy Ready by the end of calendar 2025.

“From a capital allocation perspective, we believe modestly slowing our deleveraging efforts in order to repurchase a meaningful amount of our stock at a significant discount to book value is fully consistent with our balanced growth strategy, which was specifically designed to give us the flexibility necessary to quickly respond to changing market conditions,” Mr. Merrill stated.

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