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Mar 31, 2023
Green Brick Q1 2023 Earnings Report
Reported record first quarter results, with significant growth in home closings revenue and new home orders.
Key Takeaways
Green Brick Partners reported record first-quarter results, marked by a 24% year-over-year increase in home closings revenue to $449 million and a 75.3% increase in new home orders to $630.9 million. The company's earnings per diluted share grew by 14% to $1.37, supported by a high homebuilding gross margin of 27.6%.
Home closings revenue increased 24% year-over-year to $449 million.
Net sales were up 78% year-over-year to 1,067 homes.
Cancellation rate improved significantly to 6.2%.
Backlog increased 49% sequentially to $551 million.
Revenue by Segment
Forward Guidance
This press release and our earnings call contain “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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