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Dec 31, 2020
Green Brick Q4 2020 Earnings Report
Reported fourth quarter results with EPS increasing by 81.3%.
Key Takeaways
Green Brick Partners reported strong Q4 2020 results, with an 81.3% increase in EPS and an 84.1% increase in net income. Total revenues increased by 10.4% compared to the same period last year.
EPS increased by 81.3% to $0.58 compared to Q4 2019.
Net income attributable to Green Brick increased by 84.1% to $29.3 million.
Total revenues increased by 10.4% to $254.1 million.
Gross profit increased by 31.1% to $63.9 million.
Forward Guidance
Green Brick expects closings to grow substantially beginning in the second quarter of 2021 and intends to raise home prices to increase margins and slow the sales pace.
Positive Outlook
- Expects closings to grow substantially beginning in the second quarter of 2021.
- Company intends for increase in pricing to lead to higher profits.
- Demand for homes has been tremendous at all price points.
- Net new orders in January and February 2021 up 80% year over year.
- Lots owned and controlled reached a record 14,468 lots, up 58% from six months ago.
Challenges Ahead
- Company intends for this increase in pricing to lead to lower new order levels.
- Impacted by the coronavirus (“COVID-19”) pandemic.
- Shortages, delays or increased costs of raw materials.
- Shortage of labor.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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