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Changed Risks for BEAZER HOMES USA INC (BZH)

Because almost all of our customers require mortgage financing, increases in interest rates could negatively affect the affordability of the homes we sell In addition, reductions in mortgage availability or increases in the effective costs of owning a home could prevent our customers from buying our homes and adversely affect our business and financial results

Supply shortages and other risks related to the demand for skilled labor and building materials could increase costs, delay deliveries and could adversely affect our financial condition and results of operations

Negative publicity or poor relations with the residents of our communities could negatively impact sales, which could cause our revenues or results of operations to decline

Natural disasters and other related events could result in delays in land development or home construction, increase our costs or decrease demand in the impacted areas

The homebuilding industry is cyclical A downturn in the industry could adversely affect our business, financial condition and results of operations

A number of conditions that affect demand for the homes we sell are outside of our control Many of these conditions, such as interest rates, inflation, employment levels, wage levels and governmental actions also impact consumer confidence, upon which our business is highly dependent

Inflation may adversely affect us by increasing costs beyond what we can recover through price increases

Information technology failures, cybersecurity breaches or data security breaches could harm our business

Our operating expenses could increase if we are required to pay higher insurance premiums or litigation costs for various claims, which could negatively impact our financial condition and results of operations Additionally, our insurance policies may not offset our entire expense due to limitation in coverages, amounts payable under the policies or other related restrictions

Reduced numbers of home sales extend the time it takes us to recover land purchase and property development costs, negatively impacting profitability and our results of operations