Beazer Homes USA Inc (NYSE:BZH) Q3 2024 Results Conference Call August 1, 2024 5:00 PM ET

Company Participants

Dave Goldberg - Senior VP & CFO
Allan Merrill - Chairman, President & CEO

Conference Call Participants

Alan Ratner - Zelman & Associates
Julio Romero - Sidoti & Company
Alex Barrón - Housing Research Center
Jay McCanless - Wedbush

Operator

Good afternoon, and welcome to the Beazer Homes Earnings Conference Call for the Third Quarter ended June 30, 2024. Today's call is being recorded, and a replay will be available on the company's website later today. In addition, PowerPoint slides intended to accompany this call are available in the Investor Relations section of the company's website at www.beazer.com.

At this point, I will turn the call over to Dave Goldberg, Senior Vice President and Chief Financial Officer.

Dave Goldberg

Thank you. Good afternoon, and welcome to the Beazer Homes conference call discussing our results for the third quarter of fiscal 2024.

Before we begin, you should be aware that during this call, we will be making forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors described in our SEC filings, which may cause actual results to differ materially from our projections. Any forward-looking statement speaks only as of the date the statement is made. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is simply not possible to predict all such factors.

Joining me today is Allan Merrill, our Chairman and Chief Executive Officer. On our call today, Allan will discuss highlights from our third quarter, the current environment for new home sales, our longer-term outlook on the market and conclude with an overview of our progress towards our multiyear goals. I'll then provide details on our third quarter results, expectations for our fourth quarter and full year results, the basis for our confidence in profitability growth next year, our review of our land activity followed by a quick discussion of our balance sheet and book value growth. We will conclude with a wrap-up by Allan. After our prepared remarks, we will take questions in the time remaining.

I will now turn the call over to Allan.

Allan Merrill

Thank you, Dave, and thank you for joining us on our call this afternoon. Despite the continuing challenges presented by an affordability constrained market, our third quarter reflected profitability in line with our expectations, and significant progress toward our multiyear goals. While our new home orders were softer than we had anticipated, reflecting both macro and market-specific factors that I'll address in a moment, our long-term confidence in the broader new home market and Beazer's positioning, in particular, remains very strong.