Beazer Homes was a major high-flyer during the boom. Now, not so much.

The latest earnings numbers paint an unbelievably ugly picture of the market.

Q1 revenue of $127 million missed expectations of $149 million, and were way off from the $237 millilion it reported last quarter.

A couple other data points:

  • Total new orders from continuing operations were: 1,194 homes, a 26.7% decrease from the prior year, but a 121.1% increase from the first quarter and a 9.0% increase from the second quarter of fiscal 2009.
  • Total home closings from continuing operations were: 573 homes, a 31.1% decrease from the prior year, but an 8.7% increase from the first quarter.

So, bad all around, and worse than people realized..