Bellway PLC (LSE:BWY) delivered a robust trading update for the second half of the year, with the full-year outlook for volume of completions and average prices both nudged up slightly. The housebuilder said it will have sold around 8,600-8,700 in the year at an average selling price of £315k, £5,000 above prior guidance, primarily due to the sales mix.
Bellway PLC (LSE:BWY) will issue its third-quarter trading update on Tuesday, 10 June, with attention centred on its progress toward full-year targets against a backdrop of uncertain interest rate expectations and a subdued housing market. This update will cover the nine months to the end of March but will not include full financial statements.
Bellway (BLWYY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Bellway's stock has dropped since the Autumn Budget and President Trump's tariffs, with the shares now trading below book value, presenting a potential growth opportunity. Bellway is likely to benefit from new government housing targets and planning system changes, with its order book momentum growing, as interest rates fall. While a recession could pull the brakes on Bellway's rapid growth, a neutral to positive outcome amidst the current tariff volatility could spell strong share price gains.
Bellway p.l.c. (OTCPK:BLWYF) Q2 2025 Results Conference Call March 25, 2025 5:00 AM ET Company Participants Jason Michael - Chief Executive Officer Shane Doherty - Chief Financial Officer & Director Simon Scougall - Chief Commercial Officer Conference Call Participants Ami Galla - Citi Will Jones - Redburn Atlantic Glynis Johnson - Jefferies Chris Millington - Deutsche Numis Allison Sun - Bank of America Clyde Lewis - Peel Hunt Alastair Stewart - Progressive Charlie Campbell - Stifel Jason Michael Good morning and welcome to Bellway's half year results.
Bellway PLC (LSE:BWY) shares rose in early trading on Tuesday after the housebuilder reaffirmed its full-year targets, citing a solid start to the second half and improved demand from buyers. Analysts at Stifel said a “dull” Spring Statement from Chancellor Rachel Reeves on Wednesday could prove “cathartic” for the company and the wider sector.
Bellway PLC delivered a bullish half-year update, saying it still expects to complete more home sales and expand profit margins this year. The FTSE 250-listed housebuilder said it is “on track” to deliver at least 8,500 homes for its financial year to 31 July, up 7,654 a year earlier, with a lower output in the second half.
UK housebuilders have seen a significant decline in share prices, down about 20% since the October Budget, and analysts at RBC Capital Markets believe the sector has been oversold and presents opportunities, with many stocks now trading below tangible net book value. Shares in housebuilders were mostly trading lower on Monday amid reignited worries about cladgging taxes.
Here is how Bellway (BLWYY) and Dycom Industries (DY) have performed compared to their sector so far this year.
Bellway p.l.c. (OTCPK:BLWYF) Q4 2024 Results Conference Call October 15, 2024 4:00 AM ET Company Participants Jason Honeyman - Chief Executive Keith Adey - Group Finance Director Simon Scougall - Chief Commercial Officer Conference Call Participants Ami Galla - Citi Will Jones - Redburn Atlantic Chris Millington - Deutsche Numis Aynsley Lammin - Investec Glynis Johnson - Jefferies Clyde Lewis - Peel Hunt Alastair Stewart - Progressive Sam Cullen - Peel Hunt Marcus Cole - UBS Jason Honeyman Good morning, and welcome to Bellway's Full Year Results.
Bellway PLC (LSE:BWY) shares surged over 6% on Tuesday after the company reassured trading was improving thanks to a recovery within the housing market. Though the FTSE 250-listed housebuilder reported a 62% slump in profit for 2023, lower mortgage rates were said to have boosted demand more recently.
Bellway PLC (LSE:BWY) has said improving housing market conditions over the coming year will lead to a “material increase” in volumes after firming up a slump in revenue and profit for 2024. Revenue for the year to July fell 30% to £2.38 billion, in line with a 30% drop in completions to 7,654, Bellway reported on Tuesday.