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Mar 31, 2025
Green Brick Q1 2025 Earnings Report
Reported record results for its first quarter ended March 31, 2025, with home closing revenue of $495 million, a record for any first quarter, homebuilding gross margin of 31.2%, diluted EPS of $1.67, and record net new home orders of 1,106.
Key Takeaways
Green Brick Partners achieved record first-quarter results in Q1 2025, with homebuilding revenue increasing 11.8% year-over-year to $495 million. The company maintained strong homebuilding gross margins at 31.2% and saw record net new home orders of 1,106, a 3.3% increase year-over-year. Diluted EPS was $1.67, an 8.2% decrease year-over-year, primarily due to the sale of an interest in Challenger Homes in Q1 2024. Excluding this impact, underlying earnings grew 3.7%.
Record first-quarter homebuilding revenue of $495 million, up 11.8% year-over-year.
Maintained strong homebuilding gross margin at 31.2%.
Achieved record net new home orders of 1,106, a 3.3% increase from the prior year.
Ended the quarter with $103 million in cash and $330 million available on their revolving credit facility.
Revenue by Segment
Forward Guidance
The report does not provide explicit forward guidance for specific financial metrics but indicates a focus on strategic investments, returning value to shareholders through buybacks, and maintaining liquidity to navigate market conditions.
Positive Outlook
- Continued investment in future growth by increasing total lots owned and controlled.
- Intention to self-develop a high percentage of lots for better control and margins.
- Commitment to returning value to shareholders through stock buybacks.
- Maintaining an investment grade balance sheet and low financial leverage.
- Having significant available capacity on their revolving credit facility for flexibility.
Challenges Ahead
- Unclear duration and extent of impact from tariffs.
- Economic uncertainty and volatility in the current period.
- Affordability challenges created by the elevated interest rate environment.
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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