In the pre-market session, shares of Beazer Homes USA soared by 5.04%. The homebuilder company announced that it is accelerating the pace of its share repurchases, capitalizing on the recent dislocation in its share price.
Beazer Homes stated that it will continue to repurchase shares under its previously authorized share repurchase program, which has approximately $24.8 million remaining. Since January 30th, after reporting its first-quarter 2025 earnings, the company has already repurchased around $4.1 million worth of shares at a weighted average price of $21.86.
The company's CEO, Allan P. Merrill, expressed confidence in the decision, saying, "We believe accelerating the pace of our share repurchases makes a lot of sense. The ability to buy back our shares at a significant discount to book value represents a compelling investment opportunity and we plan to act on it."
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