ATLANTA (AP) — ATLANTA (AP) — Beazer Homes USA Inc. (BZH) on Thursday reported fiscal fourth-quarter profit of $30 million.
The Atlanta-based company said it had net income of $1.02 per share. Earnings, adjusted for asset impairment costs, were $1.07 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The homebuilder posted revenue of $791.9 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $674.8 million.
For the year, the company reported profit of $45.6 million, or $1.52 per share. Revenue was reported as $2.37 billion.
Beazer shares have decreased 22% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.40, a fall of 33% in the last 12 months.
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