8-K
filed February 27, 2023, 6:59 PM ET
ticker GRBK
CIK 0001373670
earnings
confidence high
sentiment neutral
materiality 0.80
Green Brick Q4 home closings revenue record $428.6M; FY22 EPS up 61.8% to $6.02
Green Brick Partners, Inc.
2022-FY EPS reported
$6.02
revenue$1,757,793,000
- Q4 home closings revenue $428.6M, record for any Q4; total gross profit $112.4M, also a Q4 record.
- Diluted EPS $1.18, down 4.8% YoY; FY22 diluted EPS $6.02, up 61.8% YoY on revenue of $1.76B.
- Net new home orders fell 11.1% to 423; December sales up 43% over prior six-month average; cancellation rate improved to 12% in Dec, single digits in early 2023.
- Debt-to-total capital ratio improved to 25.7%; homebuilding gross margin for FY22 was 29.8%, up 340 bps YoY.
- Construction cost savings of ~$40,000 per home in Dallas from lower lumber and labor; cycle time reduced 30 days from peak.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Green Brick Partners, Inc. reported the year ended December 31, 2022 results: revenue $ 1,757,793, net income $ 291,900, EPS $ 6.02.
- Period
- the year ended December 31, 2022
- Revenue
- $ 1,757,793
- Net income
- $ 291,900
- EPS
- $ 6.02
- Result
- reported results
Exact text from the filing
Results for the Year Ended December 31, 2022: For the year ended December 31, 2022, our net income attributable to Green Brick per diluted common share, total revenues, new homes delivered, and homebuilding gross margin percentage reflect a record for any year since the Company's inception, as detailed below. (Dollars in thousands, except per share data) Twelve Months Ended December 31, 2022 2021 Change New homes delivered 2,916 2,834 2.9 % Total revenues $ 1,757,793 $ 1,402,876 25.3 % Total cost of revenues 1,234,768 1,040,817 18.6 % Total gross profit $ 523,025 $ 362,059 44.5 % Income before income taxes $ 396,465 $ 256,986 54.3 % Net income attributable to Green Brick Partners, Inc. $ 291,900 $ 190,210 53.5 % Diluted net income attributable to Green Brick Partners, Inc. per common share $ 6.02 $ 3.72 61.8 %
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Green Brick Partners, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $ 431,089, net income $ 55,547, EPS $ 1.18.
- Period
- the fourth quarter ended December 31, 2022
- Revenue
- $ 431,089
- Net income
- $ 55,547
- EPS
- $ 1.18
- Result
- reported results
Exact text from the filing
Results for the Quarter Ended December 31, 2022: For the quarter ended December 31, 2022, our home closings revenue and gross profit reflect records for any fourth quarter since the Company's inception, as detailed below. (Dollars in thousands, except per share data) Three Months Ended December 31, 2022 2021 Change New homes delivered 727 823 (11.7) % Total revenues $ 431,089 $ 452,251 (4.7) % Total cost of revenues 318,635 341,493 (6.7) % Total gross profit $ 112,454 $ 110,758 1.5 % 1 Income before income taxes $ 77,954 $ 82,589 (5.6) % Net income attributable to Green Brick Partners, Inc. $ 55,547 $ 63,471 (12.5) % Diluted net income attributable to Green Brick Partners, Inc. per common share $ 1.18 $ 1.24 (4.8) %
View on SEC.gov
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