Beazer Homes Posts Q3 Loss

(RTTNews) - Beazer Homes USA, Inc. (BZH), a US-based homebuilder, reported results for the third quarter.

The company reported a net loss of $0.3 million, or $0.01 per share, compared to the net income of $27.2 million, or $0.88 per share.

Net sales were $545.4 million, a decrease from $595.7 million from the same quarter last year.

The loss was mainly caused by the impairment charge, along with weaker margins, fewer closings, and lower operating leverage from reduced sales activity.

Thursday, BZH closed at $23.50, up 0.34%, and dropped to $21.99 after hours, down 6.43% on the NYSE.