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Dec 31, 2022
Dream Finders Homes Q4 2022 Earnings Report
Dream Finders Homes reported record homebuilding revenues and increased net income for the fourth quarter and full year 2022.
Key Takeaways
Dream Finders Homes announced record fourth-quarter homebuilding revenues of $1.1 billion, a 29% increase year-over-year. Net income attributable to Dream Finders Homes increased by 51% to $86 million, or $0.89 per basic share. The company's full-year results also reflected significant growth, with homebuilding revenues reaching $3.3 billion and net income increasing by 117%.
Homebuilding revenues increased 29% to $1.1 billion compared to Q4 2021.
Gross margin as a percentage of homebuilding revenues increased 90 basis points to 17.1%.
Net income attributable to DFH increased 51% to $86 million, or $0.89 per basic share.
Average sales price of homes closed increased 9% to $479,554 from $440,939.
Revenue by Segment
Forward Guidance
Dream Finders Homes expects approximately 6,000 home closings for the full year 2023.
Challenges Ahead
- Further deterioration of general economic conditions, including interest rate increases and mortgage availability.
- Any further COVID-19 governmental restrictions on land development, home construction or home sales.
- Additional supply chain challenges could negatively affect the Company’s ability to achieve this number of home closings in 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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