Beazer Homes Announces Preliminary Operating Results
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Headquartered in
This press release contains forward-looking statements. These
forward-looking statements represent our expectations or beliefs
concerning future events, and it is possible that the results described
in this press release will not be achieved. These forward-looking
statements are subject to risks, uncertainties and other factors, many
of which are outside of our control, that could cause actual results to
differ materially from the results discussed in the forward-looking
statements, including, among other things: (i) economic changes
nationally or in local markets, changes in consumer confidence, declines
in employment levels, inflation or increases in the quantity and
decreases in the price of new homes and resale homes on the market; (ii)
the cyclical nature of the homebuilding industry and a potential
deterioration in homebuilding industry conditions; (iii) factors
affecting margins such as decreased land values underlying land option
agreements, increased land development costs on communities under
development or delays or difficulties in implementing initiatives to
reduce production and overhead cost structure; (iv) our cost of and
ability to access capital, due to factors such as limitations in the
capital markets or adverse credit market conditions, and otherwise meet
our ongoing liquidity needs, including the impact of any downgrades of
our credit ratings or reductions in our tangible net worth or liquidity
levels; (v) our ability to reduce our outstanding indebtedness and to
comply with covenants in our debt agreements or satisfy such obligations
through repayment or refinancing; (vi) the availability and cost of land
and the risks associated with the future value of our inventory, such as
additional asset impairment charges or writedowns; (vii) estimates
related to homes to be delivered in the future (backlog) are imprecise,
as they are subject to various cancellation risks that cannot be fully
controlled; (viii) shortages of or increased prices for labor, land or
raw materials used in housing production and the level of quality and
craftsmanship provided by our subcontractors; (ix) a substantial
increase in mortgage interest rates, increased disruption in the
availability of mortgage financing, a change in tax laws regarding the
deductibility of mortgage interest, or an increased number of
foreclosures; (x) increased competition or delays in reacting to
changing consumer preference in home design; (xi) continuing severe
weather conditions or other related events could result in delays in
land development or home construction, increase our costs or decrease
demand in the impacted areas; (xii) estimates related to the potential
recoverability of our deferred tax assets and a potential reduction in
corporate tax rates that could reduce the usefulness of our existing
deferred tax assets; (xiii) potential delays or increased costs in
obtaining necessary permits as a result of changes to, or complying
with, laws, regulations, or governmental policies and possible penalties
for failure to comply with such laws, regulations or governmental
policies, including these related to the environment; (xiv) the results
of litigation or government proceedings and fulfillment of any related
obligations; (xv) the impact of construction defect and home warranty
claims, including water intrusion issues in
Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time and it is not possible for management to predict all such factors.
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Source:
Beazer Homes USA, Inc.
David I. Goldberg, 770-829-3700
Vice
President of Treasury and Investor Relations
investor.relations@beazer.com