Smith Douglas Homes FY23 net income down 12.3% to $123.2M; orders up 22.8%

Smith Douglas Homes Corp.

Revenue up 1.2% to $764.6M; home closings up 4.4% to 2,297.
Net new orders rose 22.8% to 2,368; backlog homes +18.3% to 912 ($310.7M value).
IPO in Jan 2024 raised >$125M primary net proceeds; used to pay off all outstanding debt.
Upsized $250M unsecured credit facility closed concurrent with IPO.
69 active communities vs 53 a year ago; cancellation rate improved to 10.5%.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Smith Douglas Homes Corp. reported year ended December 31, 2023 results: revenue $764.6 million, net income $123.2 million.

Period: year ended December 31, 2023
Revenue: $764.6 million
Net income: $123.2 million
Result: reported results

Exact text from the filing

2,368 • Backlog homes increased 18.3% to 912 • Sales value of backlog homes increased 20.1% to $310.7 million • Home closings increased 4.4% to 2,297 • Revenue increased 1.2% to $764.6 million • Net income of $123.2 million, down 12.3% • Debt-to-book capitalization of 26.6% • Net-debt-to-net book capitalization of 21.1% 1 The Company had 69 active communities on

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Source: SEC EDGAR

accession 0001140361-24-015075

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