BZH

JACKSONVILLE, Fla., September 18, 2026--(BUSINESS WIRE)--Dream Finders Homes, Inc. ("Dream Finders") (NYSE: DFH) today announced the results of its previously announced consent solicitation, as amended and extended (the "Consent Solicitation"), with respect to certain amendments (collectively, the "Proposed Amendment") to the Indenture governing the outstanding 8.000% Senior Notes due 2032 (the "2032 Notes") of Beazer Homes USA, Inc. ("Beazer"), in connection with its proposed acquisition of Beazer, upon the terms and conditions set forth in the Consent Solicitation Statement dated September 9, 2026, as amended and supplemented by Dream Finders’ press release dated September 16, 2026 (as so amended and supplemented, the "Consent Solicitation Statement"). All capitalized terms not defined herein are defined in the Consent Solicitation Statement. As of 5:00 p.m., New York City time, on September 17, 2026 (the "Extended Expiration Time"), consents from holders of a majority in aggregate principal amount of the outstanding 2032 Notes had been validly delivered and not validly revoked. Accordingly, Dream Finders has obtained the Requisite Consents required to effect the Proposed Amendment with respect to the 2032 Notes, and the Consent Solicitation with respect to the 2032 Notes has expired and will not be further extended. Dream Finders will make an aggregate cash payment of $4,000,000 (the "2032 Consent Fee"), to be shared pro rata among holders of 2032 Notes as of 5:00 p.m., New York City time, on September 8, 2026, that validly delivered and did not validly revoke their consents at or prior to the Extended Expiration Time, if the conditions set forth in the Consent Solicitation Statement have been satisfied or waived. Based on the aggregate principal amount of 2032 Notes that consented in the Consent Solicitation, the 2032 Consent Fee is expected to equal approximately $10.30 per $1,000 in aggregate principal amount of 2032 Notes. The 2032 Consent Fee will be paid substantially concurrently with the consummation of the Merger (as defined below). As previously announced, Dream Finders obtained the Requisite Consents with respect to the 2031 Notes and will make a cash payment (the "2031 Consent Fee") of $22.50 per $1,000 in aggregate principal amount of 2031 Notes to each holder of 2031 Notes that consented in the Consent Solicitation. The 2031 Consent Fee will be paid substantially concurrently with the consummation of the Merger. Beazer and Regions Bank, as trustee under the Indenture (the "Trustee"), intend to execute a supplemental indenture with respect to the 2032 Notes (the "New Supplemental Indenture"). The Proposed Amendment will amend the definition of "Change of Control" in the 2032 Indenture to provide that the acquisition of Beazer by Dream Finders pursuant to the Agreement and Plan of Merger, dated as of August 6, 2026, among Dream Finders, Bulldogs Merger Sub, Inc. ("Merger Sub") and Beazer (the "Merger Agreement"), will not constitute a "Change of Control" under the 2032 Indenture. Under the Merger Agreement, Merger Sub will merge with and into Beazer, with Beazer continuing as the surviving corporation and a wholly owned subsidiary of Dream Finders (the "Merger"). As a result, no "Change of Control Offer" will be required under the 2032 Indenture in connection with the Merger. The New Supplemental Indenture will become effective upon execution, but the Proposed Amendment will not become operative until the 2032 Consent Fee has been paid. Once operative, the Proposed Amendment will be binding on all holders of 2032 Notes, including holders that did not deliver consents in the Consent Solicitation. Dream Finders expects the Merger to be consummated in the fourth quarter of 2026, subject to the satisfaction of customary closing conditions, and to complete the previously contemplated offer to exchange the 2032 Notes for newly issued senior notes of Dream Finders within 120 days after the consummation of the Merger. After further consultation with its financial and legal advisors, Dream Finders has determined that where the payment of the applicable Consent Fee is deemed a "significant modification" and a deemed exchange of such Notes for federal income tax purposes, it intends to take the position that there is no original issue discount in the "new" Notes that are issued in such deemed exchange and does not intend to request new CUSIP numbers be assigned for any such Notes . This press release is not an offer to exchange any 2032 Notes, which offer will be made only pursuant to separate offering materials. BofA Securities, Inc. and Goldman Sachs & Co. LLC are acting as solicitation agents in connection with the Consent Solicitation. Any persons with questions regarding the Consent Solicitation should contact BofA Securities, Inc., at (888) 292-0070 (toll free), (980) 388-3646 (collect) or [email protected], and Goldman Sachs & Co. LLC, at (800) 828-3182 (toll free), (917) 343-9668 (collect) or [email protected]. D.F. King & Co., Inc. is acting as information and tabulation agent for the Consent Solicitation and may be contacted at (646) 698-8770 (banks and brokers), (866) 796-6867 (all others, toll free), or by email at [email protected]. This press release is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of consents with respect to any securities. About Dream Finders Homes, Inc. Dream Finders (NYSE: DFH), headquartered in Jacksonville, Florida, was recognized as the 2025 National Builder of the Year by Builder magazine. Dream Finders builds single-family homes throughout the Southeast, Mid-Atlantic and Midwest, including Florida, Texas, Tennessee, North Carolina, South Carolina, Georgia, Colorado, Arizona, and the Washington, D.C. metropolitan area, which comprises Washington, D.C., Northern Virginia and Maryland. As the Official Home Builder of the PGA TOUR, the Jacksonville Jaguars and the Tampa Bay Rays, Dream Finders is deeply committed to excellence beyond homebuilding and into the communities it serves. Through its wholly owned subsidiaries, Dream Finders also provides mortgage financing as well as title agency and underwriting services to homebuyers. Dream Finders achieves its growth and returns by maintaining an asset-light homebuilding model. For more information, please visit www.dreamfindershomes.com. Cautionary Note Regarding Forward-Looking Statements The information presented herein may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 giving Dream Finders’ expectations or predictions of future financial or business performance or conditions. Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "target," "estimate," "continue," "positions," "prospects" or "potential," by future conditional verbs such as "will," "would," "should," "could" or "may," or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time. Forward-looking statements speak only as of the date they are made, and Dream Finders does not assume any duty to update forward-looking statements other than as required by law. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. In addition to factors previously disclosed in Dream Finders’ reports filed with the Securities and Exchange Commission, the following factors, among others, could cause actual results to differ materially from forward-looking statements and historical performance: the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the Merger Agreement; the failure of Beazer and the Trustee to execute the New Supplemental Indenture on the anticipated timeline or at all; the failure of the conditions to payment of the 2032 Consent Fee, including the consummation of the Merger, to be satisfied or waived, and the resulting failure of the Proposed Amendment to become operative with respect to the 2032 Notes; the U.S. federal income tax treatment of the 2032 Consent Fee; Dream Finders’ ability to complete the Obligor Exchange within 120 days after the closing of the Merger and on the anticipated terms; the outcome of any legal proceedings that may be instituted against Dream Finders or Beazer; the failure of Beazer to obtain necessary stockholder approvals or to satisfy any of the other conditions to the Merger on a timely basis or at all; the possibility that the Merger is not completed when expected or at all, or is more expensive to complete than anticipated; Dream Finders’ ability to obtain financing for the Merger on the anticipated terms, and the ultimate structure and details of any such financing; Dream Finders’ ability to integrate Beazer successfully or fully realize the anticipated cost savings and other benefits of the Merger; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to relationships with employees, customers, suppliers or competitors resulting from the announcement or completion of the Merger; and negative effects of the announcement or consummation of the Merger on the market price of Dream Finders’ common stock, its credit ratings or its operating results. View source version on businesswire.com: https://www.businesswire.com/news/home/20260918573877/en/ Contacts Dream Finders Investor Contacts: [email protected] Media Contact: [email protected]

JACKSONVILLE, Fla., September 16, 2026--(BUSINESS WIRE)--Dream Finders Homes, Inc. ("Dream Finders") (NYSE: DFH) today announced the results of its previously announced consent solicitation (the "Consent Solicitation") with respect to certain amendments (collectively, the "Proposed Amendment") to the Indentures governing the outstanding 7.500% Senior Notes due 2031 (the "2031 Notes") and 8.000% Senior Notes due 2032 (the "2032 Notes," and together with the 2031 Notes, the "Notes") of Beazer Homes USA, Inc. ("Beazer"), in connection with its proposed acquisition of Beazer, upon the terms and conditions set forth in the Consent Solicitation Statement dated September 9, 2026 (the "Consent Solicitation Statement’). All capitalized terms not defined herein are defined in the Consent Solicitation Statement. As of 5:00 p.m., New York City time, on September 15, 2026 (the "Expiration Time"), consents from holders of a majority in aggregate principal amount of the outstanding 2031 Notes had been validly delivered and not validly revoked. Accordingly, Dream Finders has obtained the Requisite Consents with respect to the 2031 Notes required to effect the Proposed Amendment with respect to the 2031 Notes and the Consent Solicitation with respect to the 2031 Notes has expired and will not be extended. Dream Finders will make a cash payment (the "2031 Consent Fee") of $22.50 per $1,000 in aggregate principal amount of 2031 Notes to each holder of 2031 Notes as of 5:00 p.m. New York City time, on September 8, 2026, that validly delivered and did not validly revoke its consent at or prior to the Expiration Time, if the conditions set forth in the Consent Solicitation Statement have been satisfied or waived. The 2031 Consent Fee will be paid substantially concurrently with the consummation of the Merger (as defined below). With respect to the 2032 Notes, as of the Expiration Time, consents from holders of approximately 46.5% in aggregate principal amount of the outstanding 2032 Notes, or $185.9 million, had been validly delivered and not validly revoked. Accordingly, Dream Finders has extended the expiration time of the Consent Solicitation with respect to the 2032 Notes only (the "Extended Solicitation") to 5:00 p.m., New York City time, on Thursday, September 17, 2026 (the "Extended Expiration Time"). In connection with the Extended Solicitation for the 2032 Notes, Dream Finders has amended the cash payment payable with respect to the 2032 Notes (the "2032 Consent Fee") to consist of an aggregate cash payment of $4,000,000, to be shared pro rata among holders of 2032 Notes that validly deliver, and do not validly revoke, their consents at or prior to the Extended Expiration Time. As a result of this modification, if the Requisite Consent with respect to the 2032 Notes is obtained, each consenting holder would receive a 2032 Consent Fee between $10.00 per $1,000 (the same consent fee originally offered by Dream Finders) and approximately $20.00 per $1,000 in aggregate principal of 2032 Notes, with the 2032 Consent Fee per $1,000 in aggregate principal ultimately determined based on the aggregate principal of 2032 Notes that consent in the Consent Solicitation. Except for the extension of the expiration time and the amendment to the Consent Fee payable with respect to the 2032 Notes (as described below), the terms and conditions of the Consent Solicitation with respect to the 2032 Notes remain unchanged, including, but not limited to, the deadline to revoke consents with respect to the 2032 Notes which expired at 5:00 p.m., New York City time on Tuesday, September 15, 2026 (the "Revocation Deadline"). As a result, consents for the 2032 Notes previously delivered and not validly revoked at or prior to the Revocation Deadline may no longer be revoked. If the Requisite Consents with respect to the 2032 Notes are received, the payment of the 2032 Consent Fee with respect to the 2032 Notes may result in a "significant modification" of the 2032 Notes (as described below) depending on the amount of the 2032 Consent Fee received by holders of 2032 Notes for U.S. federal income tax purposes, which would be treated as a deemed exchange of the 2032 Notes for new debt instruments and may require the issuance of a new CUSIP number for the 2032 Notes. A discussion of certain material tax consequences to U.S. Holders of 2032 Notes is included below. Beazer and Regions Bank, as trustee under the Indentures (the "Trustee"), intend to execute a supplemental indenture with respect to the 2031 Notes and, if the Requisite Consents with respect to the 2032 Notes are received at or prior to the Extended Expiration Time, with respect to the 2032 Notes (each, a "New Supplemental Indenture"). The Proposed Amendment will amend the definition of "Change of Control" in the 2031 Indenture and, if the Requisite Consent with respect to the 2032 Notes is received, in the 2032 Indenture, in each case to provide that the acquisition of Beazer by Dream Finders pursuant to the Agreement and Plan of Merger, dated as of August 6, 2026, among Dream Finders, Bulldogs Merger Sub, Inc. ("Merger Sub") and Beazer (the "Merger Agreement"), will not constitute a "Change of Control" under the Indentures. Under the Merger Agreement, Merger Sub will merge with and into Beazer, with Beazer continuing as the surviving corporation and a wholly owned subsidiary of Dream Finders (the "Merger"). As a result, no "Change of Control Offer" will be required under the 2031 Indenture, and if the Requisite Consent is obtained for the 2032 Notes, the 2032 Indenture, in connection with the Merger. Each New Supplemental Indenture will become effective upon execution, but the Proposed Amendment will not become operative with respect to a series of Notes until the Consent Fee for such series has been paid. Once operative with respect to a series of Notes, the Proposed Amendment will be binding on all holders of that series of Notes, including holders that did not deliver consents in the Consent Solicitation. Dream Finders expects the Merger to be consummated in the fourth quarter of 2026, subject to the satisfaction of customary closing conditions, and to complete the previously contemplated offer to exchange each series of Notes with respect to which the Requisite Consents are received for newly issued senior notes of Dream Finders within 120 days after the consummation of the Merger. This press release is not an offer to exchange any Notes, which offer will be made only pursuant to separate offering materials. BofA Securities, Inc. and Goldman Sachs & Co. LLC are acting as solicitation agents in connection with the Consent Solicitation. Any persons with questions regarding the Consent Solicitation should contact BofA Securities, Inc., at (888) 292-0070 (toll free), (980) 388-3646 (collect) or [email protected], and Goldman Sachs & Co. LLC, at (800) 828-3182 (toll free), (917) 343-9668 (collect) or [email protected]. D.F. King & Co., Inc. is acting as information and tabulation agent for the Consent Solicitation and may be contacted at (646) 698-8770 (banks and brokers), (866) 796-6867 (all others, toll free), or by email at [email protected]. This press release is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of consents with respect to any securities. Certain Material Tax Consequences to U.S. Holders of 2032 Notes The U.S. federal income tax consequences of the adoption of the Proposed Amendment and payment of the 2032 Consent Fee to a U.S. Holder will depend in part upon whether the adoption of the Proposed Amendment or payment of the 2032 Consent Fee results in a deemed exchange of such Note for U.S. federal income tax purposes. A modification of a debt instrument generally results in a deemed exchange of the original debt instrument for a modified instrument if such modification is "significant" within the meaning of U.S. Treasury regulations promulgated under section 1001 of the Code (the "Section 1001 Regulations"). Under the Section 1001 Regulations, as a general rule a modification of a debt instrument is a significant modification only if, based on all facts and circumstances (and, subject to certain exceptions, taking into account all modifications of such debt instrument collectively), the legal rights or obligations that are altered and the degree to which they are altered are "economically significant." The Section 1001 Regulations specifically provide that a change in the yield of a debt instrument is a significant modification if the yield of the modified instrument (determined by taking into account any payments made to the holder as consideration for the modification) varies from the yield of the unmodified instrument (determined as of the date of the modification) by more than the greater of (i) 0.25% (i.e., 25 basis points) and (ii) 5% of the annual yield of the unmodified instrument. The Section 1001 Regulations also specifically provide that a modification of a debt instrument that adds, deletes or alters customary accounting or financial covenants is not a significant modification. The Section 1001 Regulations do not define "customary accounting or financial covenants." A modification of a debt instrument that is not a significant modification does not result in a deemed exchange of such instrument for U.S. federal income tax purposes. If any of the legal rights or obligations that are altered by the Proposed Amendment is not considered a customary accounting or financial covenant within the meaning of the Section 1001 Regulations, the changes to all such legal rights or obligations under the Proposed Amendment must be evaluated under the general "facts and circumstances" test in the Section 1001 Regulations. Under this test, if the changes to such rights and obligations are not "economically significant" when considered collectively, then such changes would not constitute a significant modification of a notes. Although the matter is not entirely clear, Dream Finders intends to treat the changes to the legal rights and obligations made by the adoption of the Proposed Amendment as not constituting a significant modification of the 2032 Notes under the Section 1001 Regulations and, therefore, as not resulting in a deemed exchange of the 2032 Notes for U.S. federal income tax purposes. However, the payment of the 2032 Consent Fee, depending on the ultimate amount of such fee per $1,000 of principal of 2032 Notes, may result in a "significant modification" of the 2032 Notes and a deemed exchange to consenting U.S. Holders of 2032 Notes. Consequently, upon execution of the 2032 Supplemental Indenture and the Proposed Amendment with respect to the 2032 Notes becoming operative upon satisfaction of the applicable conditions described herein, a new CUSIP number and ISIN may need to be assigned to 2032 Notes with respect to which Consents have been delivered, which will be distinct from those currently applicable to the 2032 Notes. Any 2032 Notes as to which Consents are not delivered will continue to trade, to the extent a market still exists, under the original CUSIP number and ISIN assigned to such 2032 Notes. In general, a deemed exchange resulting from a significant modification, if applicable, of the 2032 Notes will likely constitute a recapitalization and will not be taxable to U.S. Holders of 2032 Notes if the 2032 Notes as originally issued and as amended constitute "securities" for U.S. federal income tax purposes. The term "securities" is not defined in the Code or in applicable Treasury Regulations, and it has not been clearly defined by judicial decisions. The classification of a debt instrument as a security is a determination based on all of the facts and circumstances, including, but not limited to: (i) the term (i.e., duration) of the instrument, (ii) whether or not the instrument is secured, (iii) the degree of subordination of the debt instrument, (iv) the ratio of debt to equity of the issuer, and (v) the risk profile of the business of the issuer. Although the matter is not free from doubt, given the terms of the 2032 Notes, if the 2032 Consent Fee is large enough to constitute a significant modification of the 2032 Notes that results in a deemed exchange of the 2032 Notes of consenting holders of 2032 Notes, Dream Finders intends to take the position that both the "old" 2032 Notes and the "new" 2032 Notes resulting from the deemed exchange are "securities" and that the deemed exchange qualifies as a recapitalization. Assuming a deemed exchange of 2032 Notes constitutes a recapitalization, a U.S. Holder of 2032 Notes generally would not recognize any income, gain or loss with respect to such deemed exchange, except with respect to the receipt of the 2032 Consent Fee, as discussed below. Such U.S. Holder of 2032 Notes generally would receive a tax basis in the "new" 2032 Notes equal to its tax basis in the "old" 2032 Notes immediately prior to the deemed exchange, increased by any gain recognized and decreased by the amount of the 2032 Consent Fee, and such U.S. Holder’s holding period for the "new" 2032 Notes generally would include the period during which such U.S. Holder of 2032 Notes held the "old" 2032 Notes. If the IRS were to successfully assert that the "old" or "new" 2032 Notes do not constitute "securities," and that the deemed exchange of the 2032 Notes does not qualify as a recapitalization for U.S. federal income tax purposes, a U.S. Holder of 2032 Notes could be treated as making a taxable exchange of the 2032 Note for a modified debt instrument and could be required to recognize gain or loss from such deemed exchange. Any 2032 Note treated as received in such taxable exchange or in a recapitalization described above could have original issue discount ("OID") or bond premium. Based on the fact that the receipt of the 2032 Consent Fee by a U.S. Holder of 2032 Notes could result in a deemed exchange of such holder’s 2032 Notes, the Company believes that the 2032 Consent Fee received by a U.S. Holder of 2032 Notes may need to be included in the amount realized in the deemed exchange. In that event, notwithstanding the treatment of the deemed exchange as a recapitalization, a consenting U.S. Holder of 2032 Notes would recognize gain, but not loss, in an amount equal to the lesser of (1) the 2032 Consent Fee or (2) gain realized in the deemed exchange, which generally would be the difference between the amount realized in the deemed exchange (i.e., the sum of the issue price of the "new" 2032 Notes and the 2032 Consent Fee) and such Holder’s tax basis in the "old" 2032 Notes. Such gain generally would be long-term capital gain if such U.S. Holder’s holding period for the 2032 Notes exceeds one year at the time of the deemed exchange, and otherwise would be short-term capital gain. Regardless of whether a deemed exchange qualifies as a recapitalization, any amounts received by a U.S. Holder of 2032 Notes in respect of accrued but unpaid stated interest at the time of the deemed exchange will become immediately taxable as ordinary income to the extent not previously so taxed. In addition, depending on the issue price of the "new" 2032 Notes, the "new" 2032 Notes may be treated as issued with OID, in which case a consenting holder generally would be required to include such OID in gross income as ordinary income under a constant yield method in advance of the receipt of cash attributable to that income, regardless of such Holder’s method of tax accounting. Any OID accruals may be reduced or eliminated if such Holder’s adjusted tax basis in the "new" 2032 Notes exceeds their issue price. Each U.S. Holder of 2032 Notes should consult its own tax advisor regarding the potential application of the OID and bond premium rules to the "new" 2032 Notes. A U.S. Holder of 2032 Notes that does not deliver a valid Consent will not be treated as exchanging its Notes and will not recognize gain or loss as a result of the Proposed Amendment. Such a Holder will retain its existing tax basis and holding period in its Notes. However, if necessary, the "new" 2032 Notes deemed received by consenting U.S. Holders of 2032 Notes are treated as issued with OID, the 2032 Notes held by non-consenting U.S. Holders of 2032 Notes may not be fungible for U.S. federal income tax purposes with the "new" 2032 Notes, which could affect the market for such 2032 Notes. Each U.S. Holder of 2032 Notes should consult its own tax advisor regarding this issue. Each U.S. Holder of 2032 Notes should consult its own tax advisor regarding the U.S. federal income tax consequences of the adoption of the Proposed Amendment and its receipt of the 2032 Consent Fee. About Dream Finders Homes, Inc. Dream Finders (NYSE: DFH), headquartered in Jacksonville, Florida, was recognized as the 2025 National Builder of the Year by Builder magazine. Dream Finders builds single-family homes throughout the Southeast, Mid-Atlantic and Midwest, including Florida, Texas, Tennessee, North Carolina, South Carolina, Georgia, Colorado, Arizona, and the Washington, D.C. metropolitan area, which comprises Washington, D.C., Northern Virginia and Maryland. As the Official Home Builder of the PGA TOUR, the Jacksonville Jaguars and the Tampa Bay Rays, Dream Finders is deeply committed to excellence beyond homebuilding and into the communities it serves. Through its wholly owned subsidiaries, Dream Finders also provides mortgage financing as well as title agency and underwriting services to homebuyers. Dream Finders achieves its growth and returns by maintaining an asset-light homebuilding model. For more information, please visit www.dreamfindershomes.com. Cautionary Note Regarding Forward-Looking Statements The information presented herein may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 giving Dream Finders’ expectations or predictions of future financial or business performance or conditions. Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "target," "estimate," "continue," "positions," "prospects" or "potential," by future conditional verbs such as "will," "would," "should," "could" or "may," or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time. Forward-looking statements speak only as of the date they are made, and Dream Finders does not assume any duty to update forward-looking statements other than as required by law. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. In addition to factors previously disclosed in Dream Finders’ reports filed with the Securities and Exchange Commission, the following factors, among others, could cause actual results to differ materially from forward-looking statements and historical performance: the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the Merger Agreement; the failure to receive the Requisite Consents with respect to the 2032 Notes at or prior to the Extended Expiration Time, and the resulting obligation to make a "Change of Control Offer" with respect to the 2032 Notes in connection with the Merger; the failure of Beazer and the Trustee to execute the New Supplemental Indentures on the anticipated timeline or at all; the failure of the conditions to payment of the Consent Fee, including the consummation of the Merger, to be satisfied or waived, and the resulting failure of the Proposed Amendment to become operative with respect to either series of Notes; the U.S. federal income tax treatment of the Consent Fee; Dream Finders’ ability to complete the Obligor Exchange within 120 days after the closing of the Merger and on the anticipated terms; the outcome of any legal proceedings that may be instituted against Dream Finders or Beazer; the failure of Beazer to obtain necessary stockholder approvals or to satisfy any of the other conditions to the Merger on a timely basis or at all; the possibility that the Merger is not completed when expected or at all, or is more expensive to complete than anticipated; Dream Finders’ ability to obtain financing for the Merger on the anticipated terms, and the ultimate structure and details of any such financing; Dream Finders’ ability to integrate Beazer successfully or fully realize the anticipated cost savings and other benefits of the Merger; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to relationships with employees, customers, suppliers or competitors resulting from the announcement or completion of the Merger; and negative effects of the announcement or consummation of the Merger on the market price of Dream Finders’ common stock, its credit ratings or its operating results. View source version on businesswire.com: https://www.businesswire.com/news/home/20260916670502/en/ Contacts Dream FindersInvestor Contacts: [email protected] Contact: [email protected]

Cancelling previously scheduled earnings conference call and webcast due to pending transaction with Dream Finders Homes, Inc. announced separately today ATLANTA, August 07, 2026--(BUSINESS WIRE)--Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) today announced its financial results for the three and nine months ended June 30, 2026. In a separate press release issued today, Beazer (the "Company") announced that it has entered into a definitive agreement (the "Merger Agreement") to be acquired by Dream Finders Homes, Inc. for $33.50 per share in an all-cash transaction (the "Merger") that values the Company at approximately $2.2 billion. Consummation of the Merger is subject to stockholder approval, regulatory approval and completion of other customary closing conditions. Given the pending transaction with Dream Finders Homes, Beazer is withdrawing its previously issued financial outlook and will not host its earnings conference call and webcast that was scheduled for Monday, August 10, 2026. Beazer Homes Fiscal Third Quarter 2026 Highlights and Comparison to Fiscal Third Quarter 2025 Net loss was $4.2 million, or net loss of $0.16 per diluted share. During the fiscal third quarter 2025, net loss was $0.3 million, or net loss of $0.01 per diluted share Adjusted EBITDA was $15.6 million, compared to Adjusted EBITDA of $32.1 million a year ago Homebuilding revenue was $490.9 million, down 8.3% on a 13.4% decrease in home closings to 896, partially offset by a 5.9% increase in average selling price (ASP) to $547.8 thousand Homebuilding gross margin was 13.6%, up 10 basis points compared to a year ago. Excluding impairments, abandonments and amortized interest, homebuilding gross margin was 16.9%, down 150 basis points SG&A as a percentage of total revenue was 14.1%, up 90 basis points; SG&A expense was $72.5 million, down 1.1% Net new orders were 900, up 4.5% on a 3.7% increase in orders per community per month to 1.8 and a 0.8% increase in average active community count to 169 Active community count at period-end of 170, up 1.8% Backlog dollar value was $758.5 million, up 2.2% on a 6.0% increase in ASP of homes in backlog to $582.1 thousand, partially offset by a 3.6% decrease in backlog units to 1,303 Land acquisition and land development spending was $199.6 million, up 29.7% from $153.8 million Repurchased 1.0 million of the Company's outstanding common stock for an aggregate $21.0 million Active lots controlled of 23,083, down 14.3% from 26,944; controlled 60.0% of total active lots through option agreements compared to 60.1% a year ago Unrestricted cash at quarter end was $124.6 million; total liquidity was $263.8 million Total debt to total capitalization ratio of 55.1% at quarter end compared to 48.4% a year ago. Net debt to net capitalization ratio was 52.8% at quarter end compared to 46.6% a year ago The following provides additional details on the Company's performance during the fiscal third quarter 2026: Profitability. Net loss was $4.2 million, generating diluted loss per share of $0.16. This included inventory impairment and abandonment charges and loss on debt extinguishment of $3.0 million or $0.07 per share. Third quarter Adjusted EBITDA was $15.6 million compared to Adjusted EBITDA of $32.1 million a year ago. The decrease in Adjusted EBITDA was primarily due to lower operating margin. Orders. Net new orders for the third quarter increased to 900, up 4.5% from 861 in the prior year quarter, driven by a 3.7% increase in sales pace to 1.8 orders per community per month from 1.7 in the prior year quarter and a 0.8% increase in average community count to 169 from 167 a year ago. The cancellation rate for the quarter was 15.9%, down from 19.8% in the prior year quarter. Backlog. The dollar value of homes in backlog as of June 30, 2026 was $758.5 million, representing 1,303 homes, compared to $742.5 million, representing 1,352 homes, at the same time last year. The ASP of homes in backlog was $582.1 thousand, up 6.0% versus the prior year quarter. The increase in backlog ASP was primarily due to changes in product and community mix. Homebuilding Revenue. Third quarter homebuilding revenue was $490.9 million, down 8.3% year-over-year. The decrease in homebuilding revenue was driven by a 13.4% decrease in home closings to 896 homes, partially offset by a 5.9% increase in ASP to $547.8 thousand. The decrease in closings was primarily due to lower beginning backlog, partially offset by improved construction cycle times compared to the prior year quarter. Homebuilding Gross Margin. Homebuilding gross margin was 13.6%, up 10 basis points compared to a year ago. Excluding impairments, abandonments, and amortized interest, homebuilding gross margin was 16.9% for the third quarter, down from 18.4% in the prior year quarter primarily due to an increase in price concessions and closing cost incentives and changes in existing product and community mix. Homebuilding gross margin was up by 160 basis points sequentially from 12.0% in the prior fiscal quarter, and up 130 basis points from 15.6% sequentially when excluding impairments, abandonments, and interest amortization, primarily driven by reductions in direct construction costs and a larger share of closings from newer, higher-margin communities. SG&A Expenses. Selling, general and administrative expenses as a percentage of total revenue was 14.1% for the quarter, up 90 basis points year-over-year primarily due to lower homebuilding revenue. SG&A expense was $72.5 million for the quarter ended June 30, 2026, relatively flat compared to the prior year quarter. Income Taxes. Income tax benefit for the third quarter was $6.3 million compared to income tax benefit of $2.2 million in the prior year quarter. The Company's effective tax rate for the current fiscal quarter was impacted by a change in the approach used to calculate the interim income tax provision, reducing comparability with the prior year quarter. Refer to Note 10 to the condensed consolidated financial statements within the Company's Form 10-Q for the quarter ended June 30, 2026 for additional details. Land Position. During the third quarter, land acquisition and land development spending was $199.6 million, up 29.7% year-over-year. Controlled lots decreased 11.9% to 24,489, compared to 27,794 from the prior year quarter. Excluding land held for future development and land held for sale lots, active lots controlled were 23,083, down 14.3% year-over-year, as the Company manages land spend and lot position to improve capital efficiency and support future community count growth. As of June 30, 2026, the Company controlled 60.0% of its total active lots through option agreements compared to 60.1% as of June 30, 2025. Liquidity. At the close of the third quarter, the Company had $263.8 million of available liquidity, including $124.6 million of unrestricted cash and $139.2 million of remaining capacity under the unsecured revolving credit facility, compared to total available liquidity of $292.3 million a year ago. During the third quarter, the Company issued $400.0 million of 8.000% Senior Unsecured Notes due in January 2032 and retired the $357.0 million of 5.875% Senior Unsecured Notes, which were set to mature in October 2027. The Company’s nearest maturity is now the $350.0 million tranche of Senior Unsecured Notes due in October 2029. Share Repurchases. During the third quarter, the Company repurchased 1.0 million shares of its outstanding common stock for an aggregate $21.0 million at an average price per share of $21.01, bringing year-to-date repurchase activity to $66.2 million for 2.9 million shares at an average price of $23.04 per share. This equates to repurchasing 9.7% of the Company’s shares that were outstanding at the beginning of the fiscal year. Commitment to Sustainability During the third fiscal quarter, Beazer Homes received the Hearthstone BUILDER Humanitarian Award, the highest recognition for charitable leadership and community impact in the homebuilding industry. This award is presented to only one builder nationwide each year, and is widely recognized as a lifetime achievement distinction for sustained philanthropic leadership and partnership. This award reflects the collective effort of all Beazer Homes employees throughout years of consistent volunteerism, fundraising, and leadership, all in support of Fisher House Foundation and other charitable organizations. In connection with the Company receiving this honor, the Hearthstone Foundation also donated $250 thousand to the Fisher House Foundation. Summary results for the three and nine months ended June 30, 2026 and 2025 are as follows: About Beazer Homes Beazer Homes (NYSE: BZH), headquartered in Atlanta, Georgia, is a leading national homebuilder in energy-efficient construction. Building on a legacy spanning nine generations, Beazer crafts homes that deliver savings and lasting value. Our trusted team of experts guide homebuyers through the building and purchasing process to deliver an industry-leading customer experience. With curated design options, buyers can personalize their homes with confidence. Beazer's exclusive Mortgage Choice program provides access to competitive loan offers from multiple lenders, helping homebuyers choose the best financing for their individual needs. Beazer builds in 13 states nationwide. Learn more at beazer.com or follow us @BeazerHomes. This press release contains forward-looking statements. 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: risks related to the transactions contemplated by the Merger Agreement (the "Transactions"), including but not limited to (i) the risk that the Transactions may not be completed in a timely manner or at all, which may adversely affect our businesses and the price of the shares of our common stock; (ii) the risk that the Merger Agreement may be terminated in circumstances that require us to pay a termination fee; (ii) unanticipated difficulties or expenditures relating to the Transactions, including the response of business partners and competitors to the announcement of the Transactions or difficulties in employee retention as a result of the announcement and pendency of the Transactions; (iv) risks related to diverting management’s attention from ongoing business operations; (v) the risk of any litigation relating to the Transactions; and (vii) risks relating to certain restrictions during the pendency of the Transactions that limit the ability of the Company to pursue certain business opportunities or strategic transactions; macroeconomic uncertainty, including high levels of inflation, elevated interest rates and insurance costs, stock market volatility, enhanced and/or altered government regulation resulting from legislation and/or executive orders, and historic changes in U.S. trade policy, negatively impacting consumer sentiment and softening demand for the homes we sell; elevated mortgage interest rates for prolonged periods, as well as further increases to, and reduced availability of, mortgage financing; supply chain challenges (including as a result of U.S. trade policies and retaliatory responses from other countries) negatively impacting our homebuilding production, including shortages of raw materials and other critical components such as windows, doors, and appliances; our ability to meet or achieve our sustainability related goals, aspirations, initiatives, and our public statements and disclosures regarding them; geopolitical disruptions, acts of war, terrorist attacks and other geopolitical developments outside the Company’s control, including the ongoing military conflicts between Russia and Ukraine and in the Middle East, which have heightened, and may continue to heighten, existing economic uncertainty and contribute to increases in mortgage rates, higher energy prices, and other adverse macroeconomic pressures; inaccurate estimates related to homes to be delivered in the future (backlog), as they are subject to various cancellation risks that cannot be fully controlled; factors affecting margins, such as adjustments to home pricing, increased sales incentives and mortgage rate buy down programs in order to remain competitive; decreased revenues; decreased land values underlying land option agreements; increased land development costs in communities under development or delays or difficulties in implementing initiatives to reduce our cycle times and production and overhead cost structures; not being able to pass on cost increases (including cost increases due to increasing the energy efficiency of our homes) through pricing increases; the availability and cost of land and the risks associated with the future value of our inventory, including impairments and abandonment charges; our ability to raise debt and/or equity capital, due to factors such as limitations in the capital markets (including market volatility), adverse credit market conditions and financial institution disruptions, and our ability to otherwise meet our ongoing liquidity needs (which could cause us to fail to meet the terms of our covenants and other requirements under our various debt instruments and therefore trigger an acceleration of a significant portion or all of our outstanding debt obligations), including the impact of any downgrades of our credit ratings or reduction in our liquidity levels; market perceptions regarding any capital raising initiatives we may undertake (including future issuances of equity or debt capital); inefficient or ineffective allocation of capital, including with respect to planned share repurchases; market conditions and other factors outside our control that adversely impact our ability to execute on our planned share repurchases or asset sales; changes in tax laws, such as the One Big Beautiful Bill Act (OBBBA), or otherwise regarding the deductibility of mortgage interest expenses and real estate taxes, including those resulting from regulatory guidance and interpretations issued with respect thereto, such as the IRS's guidance regarding heightened qualification requirements for federal credits for building energy-efficient homes; increased competition or delays in reacting to changing consumer preferences in home design; natural disasters, severe weather, 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; shortages of or increased costs for labor used in housing production, including as a result of federal or state legislation, and/or enforcement, and the level of quality and craftsmanship provided by such labor; the potential recoverability of our deferred tax assets; 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; the results of litigation or government proceedings and fulfillment of any related obligations; the impact of construction defect and home warranty claims; the cost and availability of insurance and surety bonds, as well as the sufficiency of these instruments to cover potential losses incurred; the impact of information technology failures, cybersecurity issues or data security breaches, including cybersecurity incidents deploying evolving artificial intelligence tools and incidents impacting third-party service providers that we depend on to conduct our business; the impact of governmental regulations on homebuilding in key markets, such as regulations limiting the availability of water and electricity (including availability of electrical equipment such as transformers and meters); and the success of our sustainability initiatives, as well as the success of any other related partnerships or pilot programs we may enter into in order to increase the energy efficiency of our homes. Any forward-looking statement, including any statement expressing confidence regarding future outcomes, 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 emerge from time to time, and it is not possible to predict all such factors. -Tables Follow- 9 Reconciliation of homebuilding gross profit and homebuilding gross margin (GAAP measures) to homebuilding gross profit and the related gross margin excluding impairments and abandonments and interest amortized to cost of sales (non-GAAP measures) is provided for each period discussed below. Management believes that this information assists investors in comparing the operating characteristics of homebuilding activities by eliminating many of the differences in companies' respective level of impairments and level of debt. These non-GAAP financial measures may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. Reconciliation of Net (Loss) Income (GAAP measure) to Adjusted EBITDA (Non-GAAP measure) is provided for each period discussed below. Management believes that Adjusted EBITDA assists investors in understanding and comparing core operating results and underlying business trends by eliminating many of the differences in companies' respective capitalization, tax position, level of impairments, and other non-recurring items. This non-GAAP financial measure may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. Reconciliation of total debt to total capitalization ratio (GAAP measure) to net debt to net capitalization ratio (non-GAAP measure) is provided for each period below. Management believes that net debt to net capitalization ratio is useful in understanding the leverage employed in our operations and as an indicator of our ability to obtain financing. This non-GAAP financial measure may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. View source version on businesswire.com: https://www.businesswire.com/news/home/20260806097347/en/ Contacts Beazer Homes USA, Inc.David I. GoldbergSr. Vice President & Chief Financial Officer770-829-3700 Mark Chekanow, CFAVice President, Investor [email protected]

In its upcoming report, Beazer Homes (BZH) is predicted by Wall Street analysts to post quarterly loss of -$0.34 per share, reflecting a decline of 230.8% compared to the same period last year. Revenues are forecasted to be $510.43 million, representing a year-over-year decrease of 6.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe. Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock. While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights. In light of this perspective, let's dive into the average estimates of certain Beazer metrics that are commonly tracked and forecasted by Wall Street analysts. The average prediction of analysts places 'Total home closings' at 898 . Compared to the present estimate, the company reported 1,035 in the same quarter last year. The consensus estimate for 'ASP from closing' stands at $535.27 . The estimate compares to the year-ago value of $517.30 . Analysts forecast 'Average active community count' to reach 170 . The estimate compares to the year-ago value of 167 . It is projected by analysts that the 'Backlog units' will reach 1,467 . Compared to the current estimate, the company reported 1,352 in the same quarter of the previous year. Analysts' assessment points toward 'New orders, net of cancellations' reaching 1,068 . The estimate compares to the year-ago value of 861 . View all Key Company Metrics for Beazer here>>> Over the past month, shares of Beazer have returned +9.9% versus the Zacks S&P 500 composite's +3.3% change. Currently, BZH carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> . Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Beazer Homes USA, Inc. (BZH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Meritage Homes (MTH) came out with quarterly earnings of $1.42 per share, beating the Zacks Consensus Estimate of $1.3 per share. This compares to earnings of $2.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.23%. A quarter ago, it was expected that this homebuilder would post earnings of $1.01 per share when it actually produced earnings of $0.86, delivering a surprise of -14.85%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Meritage, which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $1.4 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.78%. This compares to year-ago revenues of $1.62 billion. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Meritage shares have added about 11.3% since the beginning of the year versus the S&P 500's gain of 8.5%. While Meritage has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Meritage was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.39 on $1.45 billion in revenues for the coming quarter and $5.00 on $5.48 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Home Builders is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Beazer Homes (BZH), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10. This homebuilder is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -230.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Beazer Homes' revenues are expected to be $510.43 million, down 6.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Meritage Homes Corporation (MTH) : Free Stock Analysis Report Beazer Homes USA, Inc. (BZH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

D.R. Horton (DHI) came out with quarterly earnings of $3.2 per share, beating the Zacks Consensus Estimate of $2.99 per share. This compares to earnings of $3.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.02%. A quarter ago, it was expected that this homebuilder would post earnings of $2.15 per share when it actually produced earnings of $2.24, delivering a surprise of +4.19%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. D.R. Horton, which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $9.23 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.46%. This compares to year-ago revenues of $9.23 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. D.R. Horton shares have added about 0.5% since the beginning of the year versus the S&P 500's gain of 8.7%. While D.R. Horton has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for D.R. Horton was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.38 on $10.2 billion in revenues for the coming quarter and $10.60 on $33.85 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Home Builders is currently in the bottom 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Beazer Homes (BZH), is yet to report results for the quarter ended June 2026. This homebuilder is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -230.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Beazer Homes' revenues are expected to be $510.43 million, down 6.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report D.R. Horton, Inc. (DHI) : Free Stock Analysis Report Beazer Homes USA, Inc. (BZH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.19%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.29%. June E-mini S&P futures (ESM26) rose +0.18%, and June E-mini Nasdaq futures (NQM26) rose +0.28%. Stock indexes settled higher on Monday, with the S&P 500 and Nasdaq 10 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Strength in chipmakers and AI-infrastructure stocks led the broader market higher on Monday. Gains in stocks were limited on Monday amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield rose +5 bp to 4.41%. Dear D-Wave Quantum Stock Fans, Mark Your Calendars for May 12 Berkshire Hathaway Just Upped Its Stake in Sumitomo Stock. Greg Abel Says It’s Holding for the Long Term. This Analyst Just Raised the Price Target on Coherent Stock by 50%. What to Know. Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones. Monday’s US economic news was slightly weaker than expected after Apr existing home sales rose +0.2% m/m to 4.02 million, below expectations of 4.05 million. Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y. WTI crude oil prices (CLM26) rose more than 2% on Monday, as optimism that the US and Iran would reopen the Strait of Hormuz was dashed after President Trump on Sunday said that Iran's latest peace proposals were "totally unacceptable." The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June. The markets are discounting a 4% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17. Earnings reports thus far in this reporting season have been supportive of stocks. As of Monday, 83% of the 450 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years. Overseas stock markets settled mixed on Monday. The Euro Stoxx 50 closed down -0.27%. China's Shanghai Composite rallied to a 10-year high and closed up +1.08%. Japan's Nikkei Stock Average fell from a record high and closed down -0.47%. Interest Rates June 10-year T-notes (ZNM6) on Monday closed down -11 ticks. The 10-year T-note yield rose +5.4 bp to 4.408%. T-notes were under pressure on Monday from a +2% jump in WTI crude oil prices, which boosted inflation expectations. T-notes fell to their lows on Monday afternoon on weak demand for the Treasury’s $58 billion auction of 3-year T-notes that had a bid-to-cover ratio of 2.54, well below the 10-auction average of 2.64. European government bond yields moved higher on Monday. The 10-year German Bund yield rose +3.5 bp to 3.040%. The 10-year UK gilt yield rose +8.6 bp to 4.998%. ECB Governing Council member Martin Kocher said, "If the situation around energy prices does not improve significantly, an interest rate hike will be unavoidable in the near future." Swaps are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on June 11. US Stock Movers Chipmakers and AI-infrastructure stocks rose on Monday amid continued optimism over AI infrastructure build-outs. Qualcomm (QCOM) closed up more than +8% to lead gainers in the Nasdaq 100, and Western Digital (WDC) closed up by more than +7%. Also, Micron Technology (MU) and Seagate Technology Holdings Plc (STX) closed up more than +6%, and NXP Semiconductors NV (NXPI), Intel (INTC), and Texas Instruments (TXN) closed up more than +3%. In addition, Nvidia (NVDA), Applied Materials (AMAT), and Analog Devices (ADI) closed up more than +1%. Mining stocks moved higher on Monday amid rallies in silver and copper prices. Hecla Mining (HL) closed up more than +11%, and Barrick Mining (B) closed up +9%. Also, Coeur Mining (CDE) closed up more than +6%, and Freeport McMoRan (FCX) closed up more than +4%. In addition, Newmont Corp (NEM) closed up more than +3%, and Anglogold Ashanti (AU) closed up more than +1%. Consumer-exposed stocks retreated on Monday after Wells Fargo warned about weakening consumer demand. Kohl’s (KSS) closed down more than -10% and Dollar General (GD) closed down more than -8% to lead losers in the S&P 500. Also, Ollie’s Bargain Outlet Holdings (OLLI) closed down more than -8% and Kontoor Brands (KTB) closed down more than -7%. In addition, Target (TGT) and Celsius Holdings (CELH) closed down more than -6%. Airline stocks and cruise line operators were under pressure on Monday amid a +2% increase in WTI crude oil prices, which boosts fuel costs and undermines the companies' profitability prospects. American Airlines Group (AAL), Alaska Air Group (ALK), and Royal Caribbean Cruises Ltd (RCL) closed down more than -4%. Also, Carnival (CCL) closed down more than -3%, and Norwegian Cruise Line Holdings (NCLH), United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) closed down more than -2%. Beazer Homes USA Inc (BZH) closed up more than +34% on a report that said Dream Finders Homes is close to announcing a $704 million offer to acquire the company. Babcock & Wilcox (BW) closed up more than +30% after reporting Q1 revenue grew 44% year-over-year, and that Q1 Ebitda nearly quadrupled. Lumentum Holdings (LITE) closed up more than +16% to lead gainers in the S&P 500 after Nasdaq announced that the stock will replace CoStar Group in the Nasdaq 100 before the market opens on Monday, May 18. Coherent Corp (COHR) closed up more than +13% on news that CEO Anderson will travel with President Trump to China this week. Monday.com (MNDY) closed up more than +5% after reporting Q1 adjusted EPS of $1.15, better than the consensus of 93 cents, and raising its full-year revenue forecast to $1.466 billion to $1.474 billion from a previous forecast of $1.45 billion to $1.46 billion, better than the consensus of $1.46 billion. Iren Ltd (IREN) closed down more than -10% after announcing that it intends to offer $2 billion of convertible senior notes due 2033 in a private offering. Trade Desk (TTD) closed down more than -7% after HSBC downgraded the stock to reduce from hold with a price target of $20. Wendy’s (WEN) closed down more than -7% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $6. Dell Technologies (DELL) closed down more than -5% after UBS downgraded the stock to neutral from buy. Tyler Technologies (TYL) closed down more than -3% after announcing that it intends to offer $1 billion of convertible senior notes due 2031 in a private offering. Mosaic (MOS) closed down nearly -2% after forecasting Q2 phosphate sales of 1.4 million to 1.7 million tons, weaker than the consensus of 1.78 million tons. Earnings Reports(5/12/2026) Aramark (ARMK), Karman Holdings Inc (KRMN), Millicom International Cellular SA (TIGO), On Holding AG (ONON), Qnity Electronics Inc (Q), Ralliant Corp (RAL), Under Armour Inc (UAA), Zebra Technologies Corp (ZBRA). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

The S&P 500 Index ($SPX) (SPY) today is up +0.25%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.17%. June E-mini S&P futures (ESM26) are up +0.29%, and June E-mini Nasdaq futures (NQM26) are up +0.19%. Stock indexes are moving higher today, with the S&P 500 and Nasdaq 100 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Gains in stocks are limited today amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield is up +3 bp to 4.39%. Broadcom Hits a Bottleneck as OpenAI Revenue Concerns Claim Their First Casualty Dan Ives Can’t Make It Any Clearer: Palantir Stock Is Still a ‘Golden Goose’ Despite Q1 Earnings Fears Palantir Stock Has a ‘High-Class Problem’: Demand for Its Software Is Far Outpacing Supply Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones. Today’s US economic news was slightly weaker than expected after Apr existing home sales rose +0.2% m/m to 4.02 million, below expectations of 4.05 million. Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y. WTI crude oil prices (CLM26) are up by more than 2% today, as optimism that the US and Iran would reopen the Strait of Hormuz was dashed after President Trump on Sunday said that Iran's latest peace proposals were "totally unacceptable." The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June. The markets are discounting a 5% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17. Earnings reports thus far in this reporting season have been supportive of stocks. As of today, 83% of the 446 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years. Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.55%. China's Shanghai Composite rallied to a 10-year high and closed up +1.08%. Japan's Nikkei Stock Average fell from a record high and closed down -0.47%. Interest Rates June 10-year T-notes (ZNM6) today are down -7 ticks. The 10-year T-note yield is up +3.8 bp to 4.392%. T-notes are under pressure today from a +2% jump in WTI crude oil prices, which is boosting inflation expectations. Also, supply pressures are weighing on T-notes as the Treasury will auction $125 billion of T-notes and T-bonds in this week’s quarterly refunding, beginning with today’s $58 billion auction of 3-year T-notes. European government bond yields are moving higher today. The 10-year German Bund yield is up +3.7 bp to 3.042%. The 10-year UK gilt yield is up +9.1 bp to 5.003%. ECB Governing Council member Martin Kocher said, "If the situation around energy prices does not improve significantly, an interest rate hike will be unavoidable in the near future." Swaps are discounting an 85% chance of a +25 bp ECB rate hike at its next policy meeting on June 11. US Stock Movers Chipmakers and AI-infrastructure stocks are climbing today amid continued optimism over AI infrastructure build-outs. Qualcomm (QCOM) is up more than +8% to lead gainers in the Nasdaq 100, and Western Digital (WDC) is up by more than +6%. Also, Micron Technology (MU) and Seagate Technology Holdings Plc (STX) are up more than +5%, and Nvidia (NVDA) is up more than +3% to lead gainers in the Dow Jones Industrials. In addition, Applied Materials (AMAT) is up more than +2%, and Intel (INTC), KLA Corp (KLAC), Texas Instruments (TXN), and Lam Research (LRCX) are up more than +1%. Mining stocks are moving higher today with rallies in gold, silver, and copper prices. Barrick Mining (B) and Hecla Mining (HL) are up more than +7%, and Coeur Mining (CDE) is up more than +4%. Also, Freeport McMoRan (FCX) and Newmont Corp (NEM) are up more than +3%, and Anglogold Ashanti (AU) is up more than +2%. Airline stocks and cruise line operators are under pressure today amid a +2% increase in WTI crude oil prices, which boost fuel costs and undermine the companies' profitability prospects. Alaska Air Group (ALK), Carnival (CCL), and Royal Caribbean Cruises Ltd (RCL) are down more than -4%, and American Airlines Group (AAL) and Norwegian Cruise Line Holdings (NCLH) are down more than -3%. Also, United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) are down more than -2%. Beazer Homes USA Inc (BZH) is up more than +30% on a report that said Dream Finders Homes is close to announcing a $704 million offer to acquire the company. Babcock & Wilcox (BW) is up more than +22% after reporting Q1 revenue grew 44% year-over-year, and that Q1 Ebitda nearly quadrupled. Lumentum Holdings (LITE) is up more than +17% to lead gainers in the S&P 500 after Nasdaq announced that the stock will replace CoStar Group in the Nasdaq 100 before the market opens on Monday, May 18. Coherent Corp (COHR) is up more than +13% on news that CEO Anderson will travel with President Trump to China this week. Monday.com (MNDY) is up more than +6% after reporting Q1 adjusted EPS of $1.15, better than the consensus of 93 cents, and raising its full-year revenue forecast to $1.466 billion to $1.474 billion from a previous forecast of $1.45 billion to $1.46 billion, better than the consensus of $1.46 billion. Moderna (MRNA) is up more than +5% after announcing it’s researching vaccines to protect against hantaviruses. Trade Desk (TTD) is down more than -7% to lead losers in the S&P 500 after HSBC downgraded the stock to reduce from hold with a price target of $20. Iren Ltd (IREN) is down more than -6% after announcing that it intends to offer $2 billion of convertible senior notes due 2033 in a private offering. Wendy’s (WEN) is down more than -6% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $6. Dell Technologies (DELL) is down more than -5% after UBS downgraded the stock to neutral from buy. Tyler Technologies (TYL) is down more than -4% after announcing that it intends to offer $1 billion of convertible senior notes due 2031 in a private offering. Mosaic (MOS) is down more than -3% after forecasting Q2 phosphate sales of 1.4 million to 1.7 million tons, weaker than the consensus of 1.78 million tons. Earnings Reports(5/11/2026) AECOM (ACM), Amentum Holdings Inc (AMTM), AST SpaceMobile Inc (ASTS), Certara Inc (CERT), Circle Internet Group Inc (CRCL), Constellation Energy Corp (CEG), Figure Technology Solutions Inc (FIGR), Fox Corp (FOXA), Halozyme Therapeutics Inc (HALO), Mosaic Co/The (MOS), Ovintiv Inc (OVV), Simon Property Group Inc (SPG), STERIS PLC (STE), ZoomInfo Technologies Inc (GTM). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

The S&P 500 Index ($SPX) (SPY) today is up +0.17%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.06%. June E-mini S&P futures (ESM26) are up +0.19%, and June E-mini Nasdaq futures (NQM26) are up +0.05%. Stock indexes are moving higher today, with the S&P 500 and Nasdaq 10 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Gains in stocks are limited today amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield is up +3 bp to 4.39%. Broadcom Hits a Bottleneck as OpenAI Revenue Concerns Claim Their First Casualty Palantir Stock Has a ‘High-Class Problem’: Demand for Its Software Is Far Outpacing Supply Dan Ives Can’t Make It Any Clearer: Palantir Stock Is Still a ‘Golden Goose’ Despite Q1 Earnings Fears Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones. Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y. WTI crude oil prices (CLM26) are up by more than 2% today, as optimism that the US and Iran would reopen the Strait of Hormuz was dashed after President Trump said Iran's latest peace proposals were "totally unacceptable." The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June. The markets are discounting a 5% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17. Earnings reports thus far in this reporting season have been supportive of stocks. As of today, 83% of the 446 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years. Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.28%. China's Shanghai Composite rallied to a 10-year high and closed up +1.08%. Japan's Nikkei Stock Average fell from a record high and closed down -0.47%. Interest Rates June 10-year T-notes (ZNM6) today are down -5 ticks. The 10-year T-note yield is up +2.7 bp to 4.381%. T-notes are under pressure today from a +2% jump in WTI crude oil prices, which is boosting inflation expectations. Also, supply pressures are weighing on T-notes as the Treasury will auction $125 billion of T-notes and T-bonds in this week’s quarterly refunding, beginning with today’s $58 billion auction of 3-year T-notes. European government bond yields are moving higher today. The 10-year German Bund yield is up +2.5 bp to 3.030%. The 10-year UK gilt yield is up +7.4 bp to 4.986%. ECB Governing Council member Martin Kocher said, "If the situation around energy prices does not improve significantly, an interest rate hike will be unavoidable in the near future." Swaps are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on June 11. US Stock Movers Chipmakers and AI-infrastructure stocks are climbing today amid continued optimism over AI infrastructure build-outs. Qualcomm (QCOM) is up more than +6% to lead gainers in the Nasdaq 100, and Micron Technology (MU) is up more than +5%. Also, Western Digital (WDC) is up by more than +4%, and Intel (INTC) and Seagate Technology Holdings Plc (STX) are up more than +3%. In addition, Texas Instruments (TXN) is up by more than +2%, and Nvidia (NVDA), Applied Materials (AMAT), and Lam Research (LRCX) are up more than +1%. Mining stocks are moving higher today with rallies in gold, silver, and copper prices. Barrick Mining (B) is up more than +8%, and Coeur Mining (CDE) and Hecla Mining (HL) are up more than +7%. Also, Freeport McMoRan (FCX) is up more than +4%, and Anglogold Ashanti (AU), Southern Copper (SCCO), and Newmont Corp (NEM) are up more than +3%. Airline stocks and cruise line operators are under pressure today from a +2% increase in WTI crude oil prices, which boosts fuel costs and undercuts the companies' profitability prospects. Carnival (CCL) and Royal Caribbean Cruises Ltd (RCL) are down more than -4%, and Alaska Air Group (ALK) is down more than -3%. Also, American Airlines Group (AAL) and Norwegian Cruise Line Holdings (NCLH) are down more than -2%. In addition, United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) are down more than -1%. Beazer Homes USA Inc (BZH) is up more than +29% on a report that said Dream Finders Homes is close to announcing a $704 million offer to acquire the company. Babcock & Wilcox (BW) is up more than +18% after reporting Q1 revenue grew 44% year-over-year, and that Q1 Ebitda nearly quadrupled. Monday.com (MNDY) is up more than +11% after reporting Q1 adjusted EP of $1.15, better than the consensus of 93 cents, and raising its full-year revenue forecast to $1.466 billion to $1.474 billion from a previous forecast of $1.45 billion to $1.46 billion, better than the consensus of $1.46 billion. Moderna (MRNA) is up more than +7% after announcing it’s researching vaccines to protect against hantaviruses. Lumentum Holdings (LITE) is up more than +6% after Nasdaq announced that the stock will replace CoStar Group in the Nasdaq 100 before the market opens on Monday, May 18. Trade Desk (TTD) is down more than -9% to lead losers in the S&P 500 after HSBC downgraded the stock to reduce from hold with a price target of $20. Iren Ltd (IREN) is down more than -7% after announcing that it intends to offer $2 billion of convertible senior notes due 2033 in a private offering. Dell Technologies (DELL) is down more than -5% after UBS downgraded the stock to neutral from buy. Wendy’s (WEN) is down more than -3% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $6. Tyler Technologies (TYL) is down more than -3% after announcing that it intends to offer $1 billion of convertible senior notes due 2031 in a private offering. Mosaic (MOS) is down more than -2% after forecasting Q2 phosphate sales of 1.4 million to 1.7 million tons, weaker than the consensus of 1.78 million tons. Earnings Reports(5/11/2026) AECOM (ACM), Amentum Holdings Inc (AMTM), AST SpaceMobile Inc (ASTS), Certara Inc (CERT), Circle Internet Group Inc (CRCL), Constellation Energy Corp (CEG), Figure Technology Solutions Inc (FIGR), Fox Corp (FOXA), Halozyme Therapeutics Inc (HALO), Mosaic Co/The (MOS), Ovintiv Inc (OVV), Simon Property Group Inc (SPG), STERIS PLC (STE), ZoomInfo Technologies Inc (GTM). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com