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Jun 30, 2022
Green Brick Q2 2022 Earnings Report
Reported record second quarter with revenue up by 53.6% and diluted EPS up by 103.9%.
Key Takeaways
Green Brick Partners, Inc. reported record results for the second quarter ended June 30, 2022, including record EPS of $2.08 per diluted share, a record number of homes delivered, and a record high home building gross margin of 32.3%.
Achieved record EPS of $2.08 per diluted share, up 73.3% sequentially.
Total revenues increased by 33.4% sequentially.
Delivered a record number of homes during the quarter.
Home building gross margin reached a record high of 32.3%, up 450 basis points sequentially.
Green Brick
Green Brick
Green Brick Revenue by Segment
Revenue by Segment
Residential Units Revenue
CapyFin.comLand and Lots Revenue
CapyFin.com Forward Guidance
Green Brick Partners is strategically positioned to navigate well within the evolving environment, operating in the best markets in the United States with a superior lot and land position to support future growth.
Positive Outlook
- Strategically positioned to navigate well within the evolving environment.
- Operates in some of the best markets in the United States.
- Over 80% of revenue year-to-date is generated from more supply constrained in-fill submarkets.
- One of the lowest leverage ratios among peers with a debt to total capital ratio of 28.9%.
- Superior lot and land position to support future growth.
Challenges Ahead
- Changes in macroeconomic conditions, including increasing interest rates and inflation.
- General economic conditions, seasonality, cyclicality and competition in the homebuilding industry.
- Shortages, delays or increased costs of raw materials and increased demand for materials.
- A shortage of qualified labor.
- Inability to acquire land in current and new markets at anticipated prices.
Revenue & Expenses
Visualization of income flow from segment revenue to net income