Beazer Homes Acquires Raleigh and Myrtle Beach Assets
29 12월 2017 - 7:15AM
Business Wire
Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) today
announced that it had acquired several communities in Raleigh and
Myrtle Beach from Bill Clark Homes, a leading private homebuilder
in the Carolinas.
In this transaction, Beazer acquired more than 450 lots spread
across four new home communities in Raleigh and three in Myrtle
Beach. These communities will be incorporated into the Company’s
existing operations in Raleigh and Myrtle Beach and will contribute
to both revenue and Adjusted EBITDA in Fiscal 2018. The transaction
value was approximately $29 million and was funded from available
cash.
“This acquisition allows us to accelerate our growth in two
existing markets, with an immediate contribution to both
profitability and return on assets and no increase in leverage,”
said Allan Merrill, President and CEO of Beazer Homes. “In addition
to adding the new communities, we are pleased to welcome a number
of new sales and construction colleagues who will enable us to
pursue additional growth in Raleigh and Myrtle Beach in the years
ahead.”
About Beazer Homes
Headquartered in Atlanta, Beazer Homes is one of the country’s
largest single-family homebuilders. The Company’s homes meet or
exceed the benchmark for energy-efficient home construction as
established by ENERGY STAR® and are designed with Choice Plans to
meet the personal preferences and lifestyles of its buyers. In
addition, the Company is committed to providing a range of
preferred lender choices to facilitate transparent competition
between lenders and enhanced customer service. The Company offers
homes in Arizona, California, Delaware, Florida, Georgia, Indiana,
Maryland, Nevada, North Carolina, South Carolina, Tennessee, Texas
and Virginia. Beazer Homes is listed on the New York Stock Exchange
under the ticker symbol “BZH.” For more info visit Beazer.com, or
check out Beazer on Facebook and Twitter.
Forward-Looking Statements
This press release contains forward-looking statements,
including expectations regarding the impact of the Bill Clark
Homesasset acquisition on our operating results. 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) economic changes nationally or in local markets,
changes in consumer confidence, declines in employment levels,
inflation or increases in the quantity and decreases in the price
of new homes and resale homes on the market; (ii) the cyclical
nature of the homebuilding industry and a potential deterioration
in homebuilding industry conditions; (iii) factors affecting
margins, such as decreased land values underlying land option
agreements, increased land development costs on communities under
development or delays or difficulties in implementing initiatives
to reduce our production and overhead cost structure; (iv) the
availability and cost of land and the risks associated with the
future value of our inventory, such as additional asset impairment
charges or writedowns; (v) shortages of or increased prices for
labor, land or raw materials used in housing production, and the
level of quality and craftsmanship provided by our subcontractors;
(vi) estimates related to homes to be delivered in the future
(backlog) are imprecise, as they are subject to various
cancellation risks that cannot be fully controlled; (vii) a
substantial increase in mortgage interest rates, increased
disruption in the availability of mortgage financing, a change in
tax laws regarding the deductibility of mortgage interest for tax
purposes or an increased number of foreclosures; (viii) our cost of
and ability to access capital, due to factors such as limitations
in the capital markets or adverse credit market conditions, and
otherwise meet our ongoing liquidity needs, including the impact of
any downgrades of our credit ratings or reductions in our tangible
net worth or liquidity levels; (ix) our ability to reduce our
outstanding indebtedness and to comply with covenants in our debt
agreements or satisfy such obligations through repayment or
refinancing; (x) increased competition or delays in reacting to
changing consumer preferences in home design; (xi) weather
conditions 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; (xii) estimates related to
the potential recoverability of our deferred tax assets, and a
potential reduction in corporate tax rates that could reduce the
usefulness of our existing deferred tax assets; (xiii) 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; (xiv) the results of litigation
or government proceedings and fulfillment of any related
obligations; (xv) the impact of construction defect and home
warranty claims, including water intrusion issues in Florida;
(xvi) the cost and availability of insurance and surety bonds, as
well as the sufficiency of these instruments to cover potential
losses incurred; (xvii) the performance of our unconsolidated
entities and our unconsolidated entity partners; (xviii) the impact
of information technology failures or data security breaches; (xix)
terrorist acts, natural disasters, acts of war or other factors
over which the Company has little or no control; or (xx) the impact
on homebuilding in key markets of governmental regulations limiting
the availability of water. Also, the impact of the acquisition on
our operating results could differ from our expectations if our
underlying assumptions about the value of the acquired assets are
incorrect or if we experience difficulties in our post-acquisition
integration efforts.
Any forward-looking statement 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 for management to predict all such factors. Please refer
to the risk factors described in our most recent annual report on
Form 10-K for a more detailed discussion of risks that may affect
our business.
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version on businesswire.com: http://www.businesswire.com/news/home/20171228005594/en/
Beazer Homes USA, Inc.David Goldberg, 770-829-3700Vice
President, Treasurer and Investor
Relationsinvestor.relations@beazer.com
Beazer Homes USA (NYSE:BZH)
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