
In its fourth quarter, Beazer Homes USA, Inc. (BZH) reported a 25% year-over-year increase in revenue, reaching $806.2 million, surpassing analysts' expectations of $777.8 million. However, the company's adjusted EBITDA fell by 10.5%, totaling $243.4 million. Homebuilding revenue for the quarter was $2.29 billion, reflecting a 4.3% increase attributed to a 4.8% rise in home closings, which totaled 4,450. Beazer Homes also reported a gross margin of 18.0%, a decline of 190 basis points from the previous year, and a cancellation rate of 21.9%. Meanwhile, Advance Auto Parts Inc. (AAP) experienced a significant downturn in its third quarter, with sales dropping 21% to $2.15 billion, falling short of the expected $2.67 billion. The company reported an earnings per share (EPS) of -$0.04, compared to the anticipated $0.49. In response to its financial challenges, Advance Auto Parts announced plans to optimize its assets, targeting the closure of 500 corporate stores, 200 independently owned locations, and four distribution centers by mid-2025. The CEO of Advance Auto Parts expressed satisfaction with the progress made on strategic actions, including the completion of the sale of Worldpac and a comprehensive operational review.
Advance Auto Parts to Close Stores as Sales Outlook Misses Views https://t.co/JC8fPj8veV
RECAP • $AAP Q3: Sales down 21% to $2.15B, below $2.67B forecast; EPS at -$0.04 vs. $0.49 expected. Plans include store and distribution center closures, and headcount cuts. • $BZH Q4: Revenue up 25% to $806.2M vs. $777.8M expected; Adjusted EBITDA down 10.5%. Home closings…
Advance Auto Parts CEO: "We are pleased to have made progress on our strategic actions, including the completion of the sale of Worldpac and a comprehensive operational productivity review of our business" $AAP: -10% PM https://t.co/s9iNBaLhvm
