United Homes Q2 net income $245.4M; includes $242.3M derivative gain; revenue falls to $122.1M

United Homes Group, Inc.

2023-Q2 EPS reported $0.89 revenue$216,918,331

Net income $245.4M ($4.27 diluted) includes $242.3M non-cash derivative gain; adjusted book value $91.0M.
Revenue $122.1M on 385 home closings vs 459 last year; ASP rose 4.3% to $313,000.
Homebuilding gross margin 19.6% (adj. 21.4%) vs 28.8% last year; company expects sequential margin improvement in H2.
Backlog $94.2M; active communities 53; total liquidity $178.7M including $92.7M cash.
Subsequent to quarter, closed $240M 3-year credit facility, increasing liquidity by $90M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

United Homes Group, Inc. reported second quarter 2023 results: revenue $122.1 million.

Period: second quarter 2023
Revenue: $122.1 million
Result: reported results

Exact text from the filing

RESULTS Second Quarter 2023 Highlights · Average sale price (ASP) of production-built homes increased to $313,000 from $300,000 in Q2 2022 · 385 homes closed resulted in $122.1 million of revenues · 341 net new home orders during Q2 2023 · Backlog value was $94.2 million as of June 30, 2023 · Active community count of 53 as of June 30, 2023 · Approximately

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

United Homes Group, Inc. reported second quarter 2023 results: revenue $122.1 million.

Period: second quarter 2023
Revenue: $122.1 million
Result: reported results

Exact text from the filing

Homebuilding revenues for the second quarter 2023 were $122.1 million, compared to $142.5 million in the second quarter 2022.

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United Homes Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-089778

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