ATLANTA (AP) — ATLANTA (AP) — Beazer Homes USA Inc. (BZH) on Thursday reported a fiscal first-quarter loss of $32.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Atlanta-based company said it had a loss of $1.13. Losses, adjusted for non-recurring costs, came to 90 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 49 cents per share.
The homebuilder posted revenue of $363.5 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $423.2 million.
Beazer shares have increased 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.21, a decline of 10% in the last 12 months.
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