The Real Deal Miami

Beazer takes beating

August 12, 2008 11:35AM

Beazer Homes USA Inc., one of Florida’s most active homebuilders, reported a quarterly loss of $109.7 million, or $2.85 per share, for the three months that ended June 30. Wall Street analysts had expected a loss of $2.34 a share for the company. Beazer, which is based in Atlanta, said the loss included $95.5 million in pre-tax charges related to inventory impairments and the abandonment of land option contracts. The average sales price of Beazer-built homes dropped 8.8 percent from a year ago, from $282,100 in the third quarter of 2007 to $257,400 in the third quarter of 2008.