Beazer Homes Announces Agreement to Acquire Venture Homes in Atlanta, Releases Preliminary Fiscal Third Quarter Results and Provides Outlook for Fiscal Years 2018 and 2019

Beazer Homes USA, Inc. (NYSE: BZH) (
today announced it had entered into an agreement to acquire Venture
Homes, a leading private homebuilder in Atlanta, for approximately $65

Venture Homes was founded by CEO and President Robert White Sr. in 1984,
and has delivered more than 6,000 homes during its 34 year history. Over
the last 12 months, Venture Homes generated $69.9 million of
homebuilding revenue from 277 closings with an average selling price of
$252.2 thousand.

The Venture assets to be acquired by Beazer include more than 1,000 lots
located in 9 active communities and 18 future communities principally
serving first time and first move-up homebuyers. The transaction also
includes substantial construction work in process as well as 51 homes in
backlog. The unique benefits of the transaction include:

“This acquisition allows us to accelerate our growth in Atlanta, a
highly desirable market supported by robust job growth, solid
affordability and favorable supply dynamics,” said Allan Merrill,
President and CEO of Beazer Homes. “In addition to adding new and future
communities, we are pleased to welcome our new colleagues who will
enable us to pursue further growth in the Atlanta market in the years

Venture Homes Founder, CEO and President, Robert White Sr. stated,
“While we received proposals from a number of other builders, Beazer
Homes’ culture and commitment to delivering both a quality experience
for buyers and opportunities for employees most closely aligned with our
values. We’re excited about the opportunities that this combination
creates for both our customers and our employees.”

The parties expect the transaction to close promptly upon the
satisfaction of customary closing conditions.

Preliminary Fiscal 2018 Third Quarter Results

In connection with the Venture acquisition, Beazer also pre-released the
following preliminary results for its fiscal 2018 third quarter:

The Company will announce its final results for the fiscal 2018 third
quarter when it issues its earnings release after market close on July
26, 2018, followed by a 5 P.M. (ET) conference call.

Fiscal 2018 and 2019 Outlook

In addition, the Company stated today that based on the continued
strength of its year-to-date results and the favorable supply and demand
environment for new homes in its markets, Beazer Homes is providing the
following guidance for the remainder of fiscal 2018:

Further, in light of the positive factors noted above and the
contributions anticipated from the newly acquired Venture communities,
the Company also announced today its expectations with respect to fiscal

The Company will provide additional commentary on these expectations
during its third quarter earnings call.

About Beazer Homes

Headquartered in Atlanta, Beazer Homes is one of the country’s
largest single-family homebuilders. The Company’s homes meet or exceed
the benchmark for energy-efficient home construction as established by
ENERGY STAR® and are designed with Choice Plans to meet the personal
preferences and lifestyles of its buyers. In addition, the
Company is committed to providing a range of preferred lender choices to
facilitate transparent competition between lenders and enhanced customer
service. The Company offers homes in Arizona, California,
Delaware, Florida, Georgia, Indiana, Maryland, Nevada, North Carolina,
South Carolina, Tennessee, Texas and Virginia. Beazer Homes is
listed on the New York Stock Exchange under the ticker symbol “BZH.” For
more info visit,
or check out Beazer on Facebook
and Twitter.

Forward-Looking Statements

This press release contains forward-looking statements, including
expectations regarding the impact of the Venture Homes acquisition on
our operating results, guidance concerning the remainder of fiscal 2018
and expectations regarding our performance in fiscal 2019. 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 our production and overhead cost structure; (iv) 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;
(v) 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; (vi) 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; (vii) a
substantial increase in mortgage interest rates, increased disruption in
the availability of mortgage financing, the recent change in tax laws
regarding the deductibility of mortgage interest for tax purposes or an
increased number of foreclosures; (viii) government actions, policies,
programs and regulations directed at or affecting the housing market
(including the Tax Cuts and Jobs Act, the Dodd-Frank Act and the tax
benefits associated with purchasing and owning a home); (ix) changes in
existing tax laws or enacted corporate income tax rates, including
pursuant to the Tax Cuts and Jobs Act; (x) 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; (xi) our ability to reduce our outstanding indebtedness and to
comply with covenants in our debt agreements or satisfy such obligations
through repayment or refinancing; (xii) increased competition or delays
in reacting to changing consumer preferences in home design; (xiii)
weather conditions or other related events that could result in delays
in land development or home construction, increase our costs or decrease
demand in the impacted areas; (xiv) estimates related to the potential
recoverability of our deferred tax assets; (xv) 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 those related to the environment; (xvi)
the results of litigation or government proceedings and fulfillment of
any related obligations; (xvii) the impact of construction defect and
home warranty claims, including water intrusion issues in Florida;
(xviii) the cost and availability of insurance and surety bonds, as well
as the sufficiency of these instruments to cover potential losses
incurred; (xix) the performance of our unconsolidated entities and our
unconsolidated entity partners; (xx) the impact of information
technology failures or data security breaches; (xxi) terrorist acts,
natural disasters, acts of war or other factors over which the Company
has little or no control; (xxii) the impact on homebuilding in key
markets of governmental regulations limiting the availability of water;
(xxiii) the failure to close the acquisition of Venture Homes or
realize the anticipated benefits of the transaction within the time
period currently expected (or at all) for any reason; (xxiv) the risk
that the integration of Venture Homes’ operations into our own will be
materially delayed or will be more costly or difficult than expected; or
(xxv) the effect of the announcement of the acquisition on our business
or the business of Venture Homes.

Any forward-looking statement speaks only as of the date on which
such statement is made and, except as required by law, we undertake no
obligation to update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made or to
reflect the occurrence of unanticipated events. New factors that may
impact the accuracy of the forward-looking statements in this release
emerge from time-to-time, and it is not possible for management to
predict all such factors. Please refer to the risk factors
described in our most recent annual report on Form 10-K for a more
detailed discussion of risks that may affect our business.

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