Beazer Homes ($BZH) reported disappointing first-quarter earnings, leading to a significant decline in its stock price. The company experienced a gross margin contraction of 470 basis points year-over-year, with EBITDA down 39% and earnings per share (EPS) plummeting by 86%. Additionally, orders per community fell by 4%, while backlog decreased by 13% and unit backlog by 16%. Following the earnings report, Beazer's stock dropped by 17% during trading, reflecting challenges faced by smaller homebuilders in a competitive market. Analysts noted that Beazer is currently trading at 85 cents on the backlog dollar, raising concerns about its viability as a public company, with potential buyout speculation ranging from $850 million to $1 billion.