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Jun 30, 2023
Green Brick Q2 2023 Earnings Report
Green Brick reported strong results in Q2 2023, marked by increased new home orders and solid home closings revenue.
Key Takeaways
Green Brick Partners reported a strong second quarter in 2023, with new home orders up 50.8% and residential units revenue of $454.4 million. The homebuilding gross margin increased to 31.3%, and diluted EPS reached $1.63. Net orders increased 51% year-over-year to 822 homes.
New home orders increased by 50.8% for the quarter.
Residential units revenue reached $454.4 million, the second highest in company history.
Homebuilding gross margin improved to 31.3%, up 370 bps sequentially.
Diluted EPS was $1.63, the second highest in company history.
Green Brick
Green Brick
Green Brick Revenue by Segment
Revenue by Segment
Residential Units Revenue
CapyFin.comLand and Lots Revenue
CapyFin.com Forward Guidance
The press release contains forward-looking statements regarding the company's position to adapt and succeed, expectations regarding market trends, ability to mitigate inventory buildup, ability to increase market share, growth strategies, capital resources, lot and land strategies, financial position, and expectations regarding returns on capital.
Positive Outlook
- Company's position to adapt and succeed in a rapidly changing environment
- Expectations regarding trends in the markets, such as demand for single-family homes and levels of resale inventory
- Ability to mitigate inventory buildup and manage the pace of sales and starts
- Ability to increase market share
- Capital resources and flexibility to capitalize on market opportunities
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, or increases in other operating costs
- A shortage of qualified labor
- Inability to acquire land in current and new markets at anticipated prices or difficulty in obtaining land-use entitlements
Revenue & Expenses
Visualization of income flow from segment revenue to net income