United Homes Group Q3 net income $150.8M includes $149.7M non-cash gain; orders up 55%

United Homes Group, Inc.

2023-Q3 EPS reported $3.61 revenue$304,646,422

Net income $150.8M ($2.35 diluted EPS) includes $149.7M non-cash derivative gain; adjusted book value $93.3M.
Revenue $87.7M, down 21% YoY; home closings 283 vs 343; ASP $316k flat.
Net new home orders 272 (+55% YoY); October 2023 orders 118.
Gross margin 19.8% (adj. 22.1%) vs 26.1% (adj. 27.5%) YoY due to incentives and higher lumber costs.
Acquired Herring Homes (Raleigh, NC) and post-Q3 Rosewood Communities (Greenville, SC); available liquidity $130.0M.

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 0.98

United Homes Group, Inc. reported the three and nine months ended September 30, 2023 results: revenue $87.7 million, net income $150.8 million, or $2.35 per diluted share, EPS $2.35 per diluted share.

Period: the three and nine months ended September 30, 2023
Revenue: $87.7 million
Net income: $150.8 million, or $2.35 per diluted share
EPS: $2.35 per diluted share
Result: reported results

Exact text from the filing

(EX-99.1) --- UNITED HOMES GROUP, INC. REPORTS 2023 THIRD QUARTER RESULTS Third Quarter 2023 Highlights • 283 homes closed, resulting in revenue, net of sales discounts, of $87.7 million • Average sale price ("ASP") of production-built homes was approximately $316,000 compared to $315,000 in Q3 2022 • 272 net new home orders in Q3 2023 compared to 175 net new

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Source: SEC EDGAR

accession 0001628280-23-038324

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