In advance of participating in two upcoming investor conferences, Beazer Homes (NYSE: BZH) late Tuesday provided an operational update in relation to Hurricane Florence.
“Hurricane Florence and the significant flooding caused by the storm have impacted operations in our Myrtle Beach, Charleston and Raleigh divisions,” said Allan Merrill, president and CEO of Beazer Homes. “In advance of the arrival of the storm, we shut down sales and construction operations in these divisions to ensure the safety of our employees, customers and partners. To date, we are not aware of any extraordinary property damage to our communities, and have received very few storm-related warranty calls.”
Mr. Merrill continued, “While the storm’s financial impact cannot reasonably be estimated at this time, we anticipate reporting fewer home sales and home closings in our fiscal fourth quarter. Based on the information currently available to us, we continue to expect to achieve our ‘2B-10’ goal this fiscal year. Further, any financial impact realized should be temporary, resulting from home sales and closings shifting into the first and second quarters of fiscal 2019 as the affected areas recover.”
