\nTotal debt to total capitalization ratio of 55.1% at quarter end compared to 48.4% a year ago. Net debt to net capitalization ratio was 52.8% at quarter end compared to 46.6% a year ago<\/p>\n<\/li>\n<\/ul>\n\nThe following provides additional details on the Company’s performance during the fiscal third quarter 2026:<\/p>\n
Profitability<\/i>. Net loss was $4.2 million, generating diluted loss per share of $0.16. This included inventory impairment and abandonment charges and loss on debt extinguishment of $3.0 million or $0.07 per share. Third quarter Adjusted EBITDA was $15.6 million compared to Adjusted EBITDA of $32.1 million a year ago. The decrease in Adjusted EBITDA was primarily due to lower operating margin.<\/p>\n
Orders<\/i>. Net new orders for the third quarter increased to 900, up 4.5% from 861 in the prior year quarter, driven by a 3.7% increase in sales pace to 1.8 orders per community per month from 1.7 in the prior year quarter and a 0.8% increase in average community count to 169 from 167 a year ago. The cancellation rate for the quarter was 15.9%, down from 19.8% in the prior year quarter.<\/p>\n
Backlog<\/i>. The dollar value of homes in backlog as of June 30, 2026 was $758.5 million, representing 1,303 homes, compared to $742.5 million, representing 1,352 homes, at the same time last year. The ASP of homes in backlog was $582.1 thousand, up 6.0% versus the prior year quarter. The increase in backlog ASP was primarily due to changes in product and community mix.<\/p>\n
Homebuilding Revenue<\/i>. Third quarter homebuilding revenue was $490.9 million, down 8.3% year-over-year. The decrease in homebuilding revenue was driven by a 13.4% decrease in home closings to 896 homes, partially offset by a 5.9% increase in ASP to $547.8 thousand. The decrease in closings was primarily due to lower beginning backlog, partially offset by improved construction cycle times compared to the prior year quarter.<\/p>\n
Homebuilding Gross Margin<\/i>. Homebuilding gross margin was 13.6%, up 10 basis points compared to a year ago. Excluding impairments, abandonments, and amortized interest, homebuilding gross margin was 16.9% for the third quarter, down from 18.4% in the prior year quarter primarily due to an increase in price concessions and closing cost incentives and changes in existing product and community mix. Homebuilding gross margin was up by 160 basis points sequentially from 12.0% in the prior fiscal quarter, and up 130 basis points from 15.6% sequentially when excluding impairments, abandonments, and interest amortization, primarily driven by reductions in direct construction costs and a larger share of closings from newer, higher-margin communities.<\/p>\n
SG&A Expenses<\/i>. Selling, general and administrative expenses as a percentage of total revenue was 14.1% for the quarter, up 90 basis points year-over-year primarily due to lower homebuilding revenue. SG&A expense was $72.5 million for the quarter ended June 30, 2026, relatively flat compared to the prior year quarter.<\/p>\n
Income Taxes<\/i>. Income tax benefit for the third quarter was $6.3 million compared to income tax benefit of $2.2 million in the prior year quarter. The Company’s effective tax rate for the current fiscal quarter was impacted by a change in the approach used to calculate the interim income tax provision, reducing comparability with the prior year quarter. Refer to Note 10 to the condensed consolidated financial statements within the Company’s Form 10-Q for the quarter ended June 30, 2026 for additional details.<\/p>\n
Land Position. <\/i>During the third quarter, land acquisition and land development spending was $199.6 million, up 29.7% year-over-year. Controlled lots decreased 11.9% to 24,489, compared to 27,794 from the prior year quarter. Excluding land held for future development and land held for sale lots, active lots controlled were 23,083, down 14.3% year-over-year, as the Company manages land spend and lot position to improve capital efficiency and support future community count growth. As of June 30, 2026, the Company controlled 60.0% of its total active lots through option agreements compared to 60.1% as of June 30, 2025.<\/p>\n
Liquidity<\/i>. At the close of the third quarter, the Company had $263.8 million of available liquidity, including $124.6 million of unrestricted cash and $139.2 million of remaining capacity under the unsecured revolving credit facility, compared to total available liquidity of $292.3 million a year ago. During the third quarter, the Company issued $400.0 million of 8.000% Senior Unsecured Notes due in January 2032 and retired the $357.0 million of 5.875% Senior Unsecured Notes, which were set to mature in October 2027. The Company\u2019s nearest maturity is now the $350.0 million tranche of Senior Unsecured Notes due in October 2029.<\/p>\n
Share Repurchases. <\/i>During the third quarter, the Company repurchased 1.0 million shares of its outstanding common stock for an aggregate $21.0 million at an average price per share of $21.01, bringing year-to-date repurchase activity to $66.2 million for 2.9 million shares at an average price of $23.04 per share. This equates to repurchasing 9.7% of the Company\u2019s shares that were outstanding at the beginning of the fiscal year.<\/p>\n
Commitment to Sustainability<\/span><\/p>\n\nDuring the third fiscal quarter, Beazer Homes received the Hearthstone BUILDER Humanitarian Award, the highest recognition for charitable leadership and community impact in the homebuilding industry. This award is presented to only one builder nationwide each year, and is widely recognized as a lifetime achievement distinction for sustained philanthropic leadership and partnership. This award reflects the collective effort of all Beazer Homes employees throughout years of consistent volunteerism, fundraising, and leadership, all in support of Fisher House Foundation and other charitable organizations. In connection with the Company receiving this honor, the Hearthstone Foundation also donated $250 thousand to the Fisher House Foundation.<\/p>\n
\nSummary results for the three and nine months ended June 30, 2026 and 2025 are as follows:<\/p>\n
\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nChange*<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNew home orders, net of cancellations<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 900<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n861<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCancellation rates<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 15.9<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n19.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(390) bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOrders per community per month<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 1.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAverage active community count<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 169<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n167<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nActive community count at quarter-end<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 170<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n167<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1.8<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLand acquisition and land development spending (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 199.6<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n153.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n29.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal home closings<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 896<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,035<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(13.4<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nASP from closings (in thousands)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 547.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n517.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n5.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nHomebuilding revenue (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 490.9<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n535.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8.3<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nHomebuilding gross margin<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 13.6<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10 bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nHomebuilding gross margin, excluding impairments and abandonments (I&A) (Non-GAAP)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 13.6<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(160) bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nHomebuilding gross margin, excluding I&A and interest amortized to cost of sales (Non-GAAP)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 16.9<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(150) bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSG&A expenses as a percentage of total revenue<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 14.1<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n90 bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLoss before income taxes (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (10.5<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(2.5<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n319.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nBenefit from income taxes (in millions)(b)<\/sup><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (6.3<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(2.2<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n187.5<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet loss (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (4.2<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(0.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,204.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nBasic loss per share<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (0.16<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(0.01<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,500.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDiluted loss per share<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (0.16<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(0.01<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,500.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLoss before income taxes (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (10.5<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(2.5<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n319.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLoss on debt extinguishment, net (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (0.7<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \nInventory impairments and abandonments (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (2.3<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(10.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(77.3<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(Loss) income excluding loss on debt extinguishment and inventory impairments and abandonments before income taxes (in millions)(c) <\/sup>(Non-GAAP)<\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (7.5<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n7.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \n(Loss) income excluding loss on debt extinguishment and inventory impairments and abandonments after income taxes (in millions)(c)(d) <\/sup>(Non-GAAP)<\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (4.8<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n7.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet loss (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (4.2<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(0.3<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,204.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted EBITDA (in millions) (Non-GAAP)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 15.6<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n32.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(51.3<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLTM(e)<\/sup> Adjusted EBITDA (in millions) (Non-GAAP)<\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 70.7<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n187.1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(62.2<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal debt to total capitalization ratio<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 55.1<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n48.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n670 bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet debt to net capitalization ratio (Non-GAAP)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 52.8<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n46.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n620 bps<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n \n* Change and totals are calculated using unrounded numbers.<\/p>\n<\/td>\n<\/tr>\n | \n | <\/tr>\n \n| \n (a)<\/sup> n\/m – indicates the percentage is “not meaningful.”<\/p>\n<\/td>\n<\/tr>\n\n | <\/tr>\n \n| \n (b)<\/sup> The Company’s effective tax rate for the current fiscal quarter was impacted by a change in the approach used to calculate the interim income tax provision, reducing comparability with the prior year quarter. Refer to Note 10 to the condensed consolidated financial statements within the Company’s Form 10-Q for the quarter ended June 30, 2026 for additional details.<\/p>\n<\/td>\n<\/tr>\n\n | <\/tr>\n \n| \n (c)<\/sup> Management believes that these measures assist investors in understanding and comparing the operating characteristics of homebuilding activities by eliminating the differences in companies’ respective level of loss on debt extinguishment and inventory impairments and abandonments. These measures should not be considered alternatives to income from continuing operations before income taxes and income from continuing operations after income taxes determined in accordance with GAAP as indicators of operating performance.<\/p>\n<\/td>\n<\/tr>\n\n | <\/tr>\n \n| \n (d)<\/sup> For the three months ended June 30, 2026, loss on debt extinguishment and inventory impairments and abandonments were tax-effected at the effective tax rate of 37.4%. For the three months ended June 30, 2025, inventory impairments and abandonments were tax-effected at the effective tax rate of (2.5)%.<\/p>\n<\/td>\n<\/tr>\n\n | <\/tr>\n \n| \n (e)<\/sup> LTM indicates amounts for the trailing 12 months.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n Nine Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nChange*<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNew home orders, net of cancellations<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2,711<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,891<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(6.2<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCancellation rates<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 15.7<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17.7<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(200) bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLTM orders per community per month<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 1.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8.9<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLand acquisition and land development spending (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 567.2<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n562.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.9<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal home closings<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2,353<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3,021<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(22.1<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nASP from closings (in thousands)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 530.5<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n513.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nHomebuilding revenue (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 1,248.4<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n1,551.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(19.6<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nHomebuilding gross margin<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 12.2<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n14.6<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(240) bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nHomebuilding gross margin, excluding I&A (Non-GAAP)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 12.4<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(280) bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nHomebuilding gross margin, excluding I&A and interest amortized to cost of sales (Non-GAAP)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 15.6<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18.3<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(270) bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSG&A expenses as a percentage of total revenue<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 15.6<\/b><\/p>\n<\/td>\n | \n %<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n260 bps<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(Loss) income before income taxes (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (60.1<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n14.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \nBenefit from income taxes (in millions)(b)<\/sup><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (22.4<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(0.8<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,859.4<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet (loss) income (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (37.7<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n15.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \nBasic (loss) income per share<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (1.36<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.52<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \nDiluted (loss) income per share<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (1.36<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.52<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(Loss) income before income taxes (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (60.1<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n14.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \nLoss on debt extinguishment, net (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (0.7<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \nInventory impairments and abandonments (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (6.0<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(10.9<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(44.7<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(Loss) income excluding loss on debt extinguishment and inventory impairments and abandonments before income taxes (in millions)(c) <\/sup>(Non-GAAP)<\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (53.4<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n25.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \n(Loss) income excluding loss on debt extinguishment and inventory impairments and abandonments after income taxes (in millions)(c)(d) <\/sup>(Non-GAAP)<\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (33.6<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n24.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nn\/m(a)<\/sup><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted EBITDA (in millions) (Non-GAAP)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 7.0<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n94.0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(92.6<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n \n* Change and totals are calculated using unrounded numbers.<\/p>\n<\/td>\n<\/tr>\n | \n | <\/tr>\n \n| \n (a) <\/sup>n\/m – indicates the percentage is “not meaningful.”<\/p>\n<\/td>\n<\/tr>\n\n | <\/tr>\n \n| \n (b) <\/sup>The Company’s effective tax rate for the nine months ended June 30, 2026 was impacted by a change in the approach used to calculate the interim income tax provision, reducing comparability with the prior year period. Refer to Note 10 to the condensed consolidated financial statements within the Company’s Form 10-Q for the quarter ended June 30, 2026 for additional details.<\/p>\n<\/td>\n<\/tr>\n\n | <\/tr>\n \n| \n (c) <\/sup>Management believes that these measures assist investors in understanding and comparing the operating characteristics of homebuilding activities by eliminating the differences in companies’ respective level of loss on debt extinguishment and inventory impairments and abandonments. These measures should not be considered alternatives to income from continuing operations before income taxes and income from continuing operations after income taxes determined in accordance with GAAP as indicators of operating performance.<\/p>\n<\/td>\n<\/tr>\n\n | <\/tr>\n \n| \n (d) <\/sup>For the nine months ended June 30, 2026, loss on debt extinguishment and inventory impairments and abandonments were tax-effected at the effective tax rate of 37.4%. For the nine months ended June 30, 2025, inventory impairments and abandonments were tax-effected at the effective tax rate of (2.5)%.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n As of June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nBacklog units<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 1,303<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,352<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(3.6<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDollar value of backlog (in millions)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 758.5<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n742.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2.2<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nASP in backlog (in thousands)<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 582.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n549.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6.0<\/p>\n<\/td>\n | \n \n%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLand and lots controlled<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 24,489<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n27,794<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(11.9<\/p>\n<\/td>\n | \n \n)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n About Beazer Homes<\/i><\/b><\/p>\n Beazer Homes (NYSE: BZH), headquartered in Atlanta, Georgia, is a leading national homebuilder in energy-efficient construction. Building on a legacy spanning nine generations, Beazer crafts homes that deliver savings and lasting value. Our trusted team of experts guide homebuyers through the building and purchasing process to deliver an industry-leading customer experience. With curated design options, buyers can personalize their homes with confidence. Beazer’s exclusive Mortgage Choice program provides access to competitive loan offers from multiple lenders, helping homebuyers choose the best financing for their individual needs. Beazer builds in 13 states nationwide. Learn more at beazer.com<\/a> or follow us @BeazerHomes.<\/i><\/p>\nThis press release contains forward-looking statements. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including, among other things:<\/i><\/p>\n\n- risks related to the transactions contemplated by the Merger Agreement (the \u201cTransactions\u201d), including but not limited to (i) the risk that the Transactions may not be completed in a timely manner or at all, which may adversely affect our businesses and the price of the shares of our common stock; (ii) the risk that the Merger Agreement may be terminated in circumstances that require us to pay a termination fee; (ii) unanticipated difficulties or expenditures relating to the Transactions, including the response of business partners and competitors to the announcement of the Transactions or difficulties in employee retention as a result of the announcement and pendency of the Transactions; (iv) risks related to diverting management\u2019s attention from ongoing business operations; (v) the risk of any litigation relating to the Transactions; and (vii) risks relating to certain restrictions during the pendency of the Transactions that limit the ability of the Company to pursue certain business opportunities or strategic transactions;<\/i><\/li>\n<\/ul>\n
\n- macroeconomic uncertainty, including high levels of inflation, elevated interest rates and insurance costs, stock market volatility, enhanced and\/or altered government regulation resulting from legislation and\/or executive orders, and historic changes in U.S. trade policy, negatively impacting consumer sentiment and softening demand for the homes we sell;<\/i><\/li>\n<\/ul>\n
\n- elevated mortgage interest rates for prolonged periods, as well as further increases to, and reduced availability of, mortgage financing;<\/i><\/li>\n<\/ul>\n
\n- supply chain challenges (including as a result of U.S. trade policies and retaliatory responses from other countries) negatively impacting our homebuilding production, including shortages of raw materials and other critical components such as windows, doors, and appliances;<\/i><\/li>\n<\/ul>\n
\n- our ability to meet or achieve our sustainability related goals, aspirations, initiatives, and our public statements and disclosures regarding them;<\/i><\/li>\n<\/ul>\n
\n- geopolitical disruptions, acts of war, terrorist attacks and other geopolitical developments outside the Company\u2019s control, including the ongoing military conflicts between Russia and Ukraine and in the Middle East, which have heightened, and may continue to heighten, existing economic uncertainty and contribute to increases in mortgage rates, higher energy prices, and other adverse macroeconomic pressures;<\/i><\/li>\n<\/ul>\n
\n- inaccurate estimates related to homes to be delivered in the future (backlog), as they are subject to various cancellation risks that cannot be fully controlled;<\/i><\/li>\n<\/ul>\n
\n- factors affecting margins, such as adjustments to home pricing, increased sales incentives and mortgage rate buy down programs in order to remain competitive;<\/i><\/li>\n<\/ul>\n
\n- decreased revenues;<\/i><\/li>\n<\/ul>\n
\n- decreased land values underlying land option agreements;<\/i><\/li>\n<\/ul>\n
\n- increased land development costs in communities under development or delays or difficulties in implementing initiatives to reduce our cycle times and production and overhead cost structures;<\/i><\/li>\n<\/ul>\n
\n- not being able to pass on cost increases (including cost increases due to increasing the energy efficiency of our homes) through pricing increases;<\/i><\/li>\n<\/ul>\n
\n- the availability and cost of land and the risks associated with the future value of our inventory, including impairments and abandonment charges;<\/i><\/li>\n<\/ul>\n
\n- our ability to raise debt and\/or equity capital, due to factors such as limitations in the capital markets (including market volatility), adverse credit market conditions and financial institution disruptions, and our ability to otherwise meet our ongoing liquidity needs (which could cause us to fail to meet the terms of our covenants and other requirements under our various debt instruments and therefore trigger an acceleration of a significant portion or all of our outstanding debt obligations), including the impact of any downgrades of our credit ratings or reduction in our liquidity levels;<\/i><\/li>\n<\/ul>\n
\n- market perceptions regarding any capital raising initiatives we may undertake (including future issuances of equity or debt capital);<\/i><\/li>\n<\/ul>\n
\n- inefficient or ineffective allocation of capital, including with respect to planned share repurchases;<\/i><\/li>\n<\/ul>\n
\n- market conditions and other factors outside our control that adversely impact our ability to execute on our planned share repurchases or asset sales;<\/i><\/li>\n<\/ul>\n
\n- changes in tax laws, such as the One Big Beautiful Bill Act (OBBBA), or otherwise regarding the deductibility of mortgage interest expenses and real estate taxes, including those resulting from regulatory guidance and interpretations issued with respect thereto, such as the IRS’s guidance regarding heightened qualification requirements for federal credits for building energy-efficient homes;<\/i><\/li>\n<\/ul>\n
\n- increased competition or delays in reacting to changing consumer preferences in home design;<\/i><\/li>\n<\/ul>\n
\n- natural disasters, severe weather, or other related events that could result in delays in land development or home construction, increase our costs or decrease demand in the impacted areas;<\/i><\/li>\n<\/ul>\n
\n- shortages of or increased costs for labor used in housing production, including as a result of federal or state legislation, and\/or enforcement, and the level of quality and craftsmanship provided by such labor;<\/i><\/li>\n<\/ul>\n
\n- the potential recoverability of our deferred tax assets;<\/i><\/li>\n<\/ul>\n
\n- potential delays or increased costs in obtaining necessary permits as a result of changes to, or complying with, laws, regulations or governmental policies, and possible penalties for failure to comply with such laws, regulations or governmental policies, including those related to the environment;<\/i><\/li>\n<\/ul>\n
\n- the results of litigation or government proceedings and fulfillment of any related obligations;<\/i><\/li>\n<\/ul>\n
\n- the impact of construction defect and home warranty claims;<\/i><\/li>\n<\/ul>\n
\n- the cost and availability of insurance and surety bonds, as well as the sufficiency of these instruments to cover potential losses incurred;<\/i><\/li>\n<\/ul>\n
\n- the impact of information technology failures, cybersecurity issues or data security breaches, including cybersecurity incidents deploying evolving artificial intelligence tools and incidents impacting third-party service providers that we depend on to conduct our business;<\/i><\/li>\n<\/ul>\n
\n- the impact of governmental regulations on homebuilding in key markets, such as regulations limiting the availability of water and electricity (including availability of electrical equipment such as transformers and meters); and<\/i><\/li>\n<\/ul>\n
\n- the success of our sustainability initiatives, as well as the success of any other related partnerships or pilot programs we may enter into in order to increase the energy efficiency of our homes.<\/i><\/li>\n<\/ul>\n
Any forward-looking statement, including any statement expressing confidence regarding future outcomes, speaks only as of the date on which such statement is made and, except as required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible to predict all such factors.<\/i><\/p>\n \n-Tables Follow-<\/p>\n \n\n| \n BEAZER HOMES USA, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |