BEAZER HOMES USA INC

Beazer Homes USA, Inc. announced that its stockholders approved the merger agreement with Dream Finders Homes, Inc. at a special meeting held on October 15, 2026. The merger agreement proposal received overwhelming support, with 21,541,108 votes in favor. Additionally, stockholders approved, on a non-binding advisory basis, the compensation related to the merger. The company expects the merger to close in the coming days, after which Beazer Homes will become a privately held entity and its common stock will no longer be traded on the NYSE.

Beazer Homes USA, Inc. reported a net loss of $(4.2) million for the three months ended June 30, 2026, compared to a net loss of $(0.3) million in the prior year. Total revenue for the quarter decreased to $516.3 million from $545.4 million. For the nine months, the company posted a net loss of $(37.7) million. During the period, Beazer Homes issued $400.0 million in new senior notes and redeemed $357.3 million of existing notes, incurring a $0.7 million loss on extinguishment. The company also increased its revolving credit facility capacity to $525.0 million and repurchased $21.0 million of common stock.

Dream Finders Homes, Inc. announced a definitive agreement to acquire Beazer Homes USA, Inc. in an all-cash transaction valued at approximately $2.2 billion. Beazer shareholders will receive $33.50 per share. This merger is expected to create the sixth-largest U.S. homebuilder, expanding market reach to 26 markets and generating over $100 million in annual cost synergies. The transaction is anticipated to be double-digit percentage accretive to Dream Finders' EPS in the first year and is expected to close in the fourth quarter of 2026.

Beazer Homes USA, Inc. announced it has entered into a definitive agreement to be acquired by Dream Finders Homes, Inc. for $33.50 per share in an all-cash transaction, valuing the company at approximately $2.2 billion. The company also reported its third quarter fiscal 2026 results, with a net loss of $4.2 million and a decrease in homebuilding revenue to $490.9 million. Due to the pending transaction, Beazer Homes is withdrawing its financial outlook and canceling its earnings conference call.

Beazer Homes USA, Inc. issued $400 million aggregate principal amount of 8.000% Senior Notes due 2032 through a private placement. The net proceeds from this offering will be used to redeem $357.3 million of its outstanding 5.875% Senior Notes due 2027, including related fees and expenses. This refinancing extends the maturity of a significant portion of the company's debt from 2027 to 2032.

Beazer Homes USA, Inc. reported a net loss of $(0.9) million for the three months ended March 31, 2026, a significant decline from a net income of $12.8 million in the prior year. Total revenue decreased by 27.5% to $409.8 million. For the six months, the company posted a net loss of $(33.5) million on a 25.2% revenue decrease to $773.3 million. The company also amended its revolving credit facility, increasing capacity to $525.0 million, and repurchased $45.1 million of common stock during the six-month period.

Beazer Homes reported a net loss of $0.9 million for the second fiscal quarter of 2026, a significant decline from a net income of $12.8 million in the prior year. Homebuilding revenue decreased by 28.5% to $397.7 million, primarily due to fewer home closings. Despite macroeconomic headwinds, the company repurchased $30.0 million of its common stock and increased its revolving credit facility to $525.0 million, while management remains cautious about near-term demand due to rising mortgage rates.