Dream Finders Q3 net income up 264% to $70M; homebuilding revenue $784M; cancellation rate 25.5%

Dream Finders Homes, Inc.

2022-Q3 EPS reported $1.67 revenue$2,242,869,000

Homebuilding revenues $784M (+117% YoY); net income $70M ($0.71 EPS) vs $19M ($0.20) in Q3 2021.
Home closings up 68% to 1,542; ASP up 30% to $487,852; gross margin improved 260 bps to 18.6%.
Net new orders down 15% to 1,110; cancellation rate increased to 25.5% from 13.9%.
Hurricane Ian caused ~178 missed closings with estimated $74M revenue impact; no material property damage.
Backlog of 6,758 homes valued at $3.1B; FY22 guidance reaffirms minimum 7,000 closings.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Dream Finders Homes, Inc. reported the third quarter ended September 30, 2022 results: revenue $784 million, net income $70 million, EPS $0.71 per basic share.

Period: the third quarter ended September 30, 2022
Revenue: $784 million
Net income: $70 million
EPS: $0.71 per basic share
Result: reported results

Exact text from the filing

the third quarter ended September 30, 2022. Third Quarter 2022 Highlights (As Compared to Third Quarter 2021, unless otherwise noted) • Homebuilding revenues increased 117% to $784 million from $361 million • Gross margin as a percentage of homebuilding revenues increased 260 basis points (bps) to 18.6% from 16.0% • Pre-tax income increased 196% to $82 million,

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Source: SEC EDGAR

accession 0001825088-22-000054

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