April 10, 2019

BZH – Market expectations are for material Uniform ROA declines, but management is confident about their plan options, growth strategy, and short-term macro trends


  • Beazer Homes USA, Inc. (BZH:USA) currently trades near recent lows relative to UAFRS-based (Uniform) Earnings, with a 6.8x Uniform P/E, implying bearish expectations for the firm. However, management is confident in their plan options, growth strategy execution, and housing trend improvements
  • Specifically, management is confident in their pre-engineered structural plan options and balanced growth strategy execution. In addition, they are confident in late-January macro housing trends improvement
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