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Beazer's 3Q EPS up 71%; Heads for $9 per Share

ATLANTA-The locally based homebuilding, mortgage and title insurance company sets new company highs in its third fiscal quarter, showing net income at $19.9 million, up 88% over the comparable 2000 period.

By Alex Finkelstein | Updated on July 24, 2001

ATLANTA-Beazer Homes USA Inc. posted third fiscal quarter diluted earnings per share (before an extraordinary item) of $2.15, up 71% versus $1.26 in the prior year. The record performance moved the locally based builder two years ahead of its five-year earnings goal to hit $9 per share by 2004. Beazer expects to reach the $9 mark next year.

“Our record backlog gives us a strong indication that this trend will continue,” Ian J. McCarthy, Beazer’s president/CEO, says in a prepared statement on the results ended June 30.

The numbers show the locally based homebuidling, mortgage and title insurance company did everything right in its third quarter.

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