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Why Beazer Homes Stock Just Tumbled 20%

TheMotleyFool

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One day after Meritage Homes stock popped as much as 10% on a huge earnings beat on its fiscal fourth-quarter results, another homebuilder -- this time, Beazer Homes (NYSE: BZH) -- is tumbling twice that amount in response to... also an earnings beat!

Last night after close of trading, Beazer Homes reported fiscal first-quarter 2020 earnings of $0.09 per share under generally accepted accounting principles (GAAP), where Wall Street had expected only $0.07. Sales for the quarter likewise trumped expectations, $417.4 million to Wall Street's $410 million.

And yet, Beazer stock is down 20.1% as of 11 a.m. EST.

Source Fool.com

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