It's earning season for public builders. Find their latest financial reports below, as covered in stories by ousister publication BIG BUILDER.
Beazer Sees a Brighter 2011
It was Beazer Homes USA's positives that CEO Ian McCarthy chose to mention first during Thursday's conference call with analysts, downplaying the company's bottom-line return to red ink for its third fiscal quarter, following three in the black. Beazer lost $27.6 million, or $0.41 per share, for the quarter.
PulteGroup Credits Merger In Turnaround
The PulteGroup announced its first quarterly profit in more than three years, but management barely noted the event, perhaps because it had some extra help getting there. An $82 million income tax refund more than offset $45 million in land charges to help net the company a $76 million profit, or $0.20 per share. But perhaps of more help was the merger with Centex, which helped increase the number of homes the company delivered to 5,030, roughly double the volume Pulte alone did last year.
Taylor Wimpey Reports First-Half Profit
Taylor Wimpey, parent company of the U.S-based Taylor Morrison, turned a profit in the first half of the year as did its North American division. The U.K.-based company posted net earnings of 7.5 million pounds on revenue of 1.2 billion pounds for the first half of the year compared with a loss of 681.9 million pounds in the first half of 2009.
D.R. Horton's Tomnitz: Next 12-14 Months "Challenging"
D.R. Horton is three-fourths of the way through its goal for a profitable fiscal year, but even CEO Don Tomnitz thinks pulling in positive earnings for the fourth time will be difficult.
Ryland CEO: No More Tax Credits
Ryland Homes CEO Larry Nicholson won't be recommending a hair-of-the-dog remedy for the home buyer tax credit hangover. The time is over for government help for the housing industry, Nicholson told analysts during the company's second-quarter earnings call. "At some point, the home building industry must recover on the basis of actual demand," he said.
Standard Pacific to Buy More Land
The latest slump in new housing sales might be bad news for the current bottom line for builders, but it makes for just the right market for buying land, Standard Pacific Homes CEO Ken Campbell told analysts Friday.
M.D.C. CEO Cautious About Slowdown
M.D.C. Holdings' sales tumbled off the precipice in May and June just the same as they did for many builders. The difference was that, despite the crash, the company was able to net enough new sales in its second quarter to actually show a new order increase of 4% over last year.
Brookfield Homes in Merger Talks
Brookfield Homes Corporation said Friday it is negotiating with Brookfield Properties Corporation regarding a possible merger that would result in the combination of Brookfield Homes with Carma Developers, the North American residential land and housing division of Brookfield Properties with operations principally in Alberta, Colorado, and Texas.
Meritage CEO Sticks by Forecast of 2010 Profit
Meritage Homes' main goals for 2010 are to return to profitability and stay there. So far, so good.