Green Brick Q2 EPS $1.63, home orders up 51% YoY; gross margin 31.3% up 370 bps sequentially

Green Brick Partners, Inc.

2023-Q2 EPS reported $3.00 revenue$908,350,000

Diluted EPS $1.63 (second highest ever); net income $75.3M, down 25.7% YoY.
New home orders up 50.8% YoY to 822; cancellation rate 7.4% (lowest in industry).
Homebuilding gross margin 31.3%, up 370 bps sequentially; total revenues $456.3M.
Total debt to capital 22.9%; net debt to capital a record low 10.6%.
Active selling communities up 10.3% to 86; backlog $586M.

item 2.02 item 8.01 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

Green Brick Partners, Inc. reported the second quarter ended June 30, 2023 results: revenue Total revenues $ 456,289, net income Net income attributable to Green Brick Partners, Inc. $ 75,270, EPS Diluted net income attributable to Green Brick Partners, Inc. per common share $ 1.63.

Period: the second quarter ended June 30, 2023
Revenue: Total revenues $ 456,289
Net income: Net income attributable to Green Brick Partners, Inc. $ 75,270
EPS: Diluted net income attributable to Green Brick Partners, Inc. per common share $ 1.63
Result: reported results

Exact text from the filing

Results for the Quarter Ended June 30, 2023: (Dollars in thousands, except per share data) Three Months Ended June 30, 2023 2022 Change New homes delivered 783 881 (11.1) % Total revenues $ 456,289 $ 525,144 (13.1) % Total cost of revenues 313,354 356,248 (12.0) % Total gross profit $ 142,935 $ 168,896 (15.4) % Income before income taxes $ 104,212 $ 138,282 (24.6) % Net income attributable to Green Brick Partners, Inc. $ 75,270 $ 101,256 (25.7) % Diluted net income attributable to Green Brick Partners, Inc. per common share $ 1.63 $ 2.08 (21.6) %

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Green Brick Partners, Inc. reported the six months ended June 30, 2023 results: revenue Total revenues $ 908,350, net income Net income attributable to Green Brick Partners, Inc. $ 139,450, EPS Diluted net income attributable to Green Brick Partners, Inc. per common share $ 3.00.

Period: the six months ended June 30, 2023
Revenue: Total revenues $ 908,350
Net income: Net income attributable to Green Brick Partners, Inc. $ 139,450
EPS: Diluted net income attributable to Green Brick Partners, Inc. per common share $ 3.00
Result: reported results

Exact text from the filing

Results for the Six Months Ended June 30, 2023: (Dollars in thousands, except per share data) Six Months Ended June 30, 2023 2022 Change New homes delivered 1,544 1,539 0.3 % Total revenues $ 908,350 $ 918,760 (1.1) % Total cost of revenues 640,809 641,508 (0.1) % Total gross profit $ 267,541 $ 277,252 (3.5) % Income before income taxes $ 191,384 $ 220,915 (13.4) % Net income attributable to Green Brick Partners, Inc. $ 139,450 $ 162,833 (14.4) % Diluted net income attributable to Green Brick Partners, Inc. per common share $ 3.00 $ 3.25 (7.7) %

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Source: SEC EDGAR

accession 0001373670-23-000049

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