Beazer Homes Adopts New Stock Buyback Program

• Beazer Homes USA Inc (NYSE:BZH) Board of Directors has approved a new share repurchase program for up to $50 million of its common shares.
• The new authorization replaces a prior share repurchase authorization under which $12 million was remaining.
• The company also reiterated its expectation to achieve a Net Debt to Net Capitalization ratio below 50% and its commitment to bring total debt below $1 billion by the end of fiscal 2022.
• Beazer held $197.3 million in cash and equivalents as of March 31, 2022.
• Price Action: BZH shares are trading higher by 0.69% at $14.49 on the last check Wednesday.