Loading...
•
Dec 31, 2024
Green Brick Q4 2024 Earnings Report
Green Brick Partners, Inc. reported record fourth quarter and full year 2024 results, with significant increases in revenue, EPS, and home closings.
Key Takeaways
Green Brick Partners, Inc. achieved record results in Q4 2024, with total revenues reaching $567.3 million, diluted EPS of $2.31, and 1,019 new homes delivered. The company also reported a record full-year diluted EPS of $8.45 and total revenues of $2.1 billion, driven by strong homebuilding gross margins and strategic land positions.
Record Q4 home closings revenue of $557 million, up 24.2% year-over-year.
Diluted EPS of $2.31 for Q4, a record for any fourth quarter, up 46.2% year-over-year.
Record full-year homebuilding gross margin of 33.8%, an increase of 290 basis points.
Net new home orders increased 29.3% year-over-year to 878 homes in Q4, a record for any fourth quarter.
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, Inc. is optimistic about the housing market's long-term prospects, supported by demographic tailwinds and persistent housing shortages. The company plans to continue evaluating its land acquisition strategy and share repurchase program.
Positive Outlook
- Strong position for growth with total lots owned and controlled up 31.9% year-over-year.
- Increased share repurchase authorization to $100 million, indicating confidence in future performance.
- Optimism on the housing market over the long term due to demographic tailwinds and housing shortages.
- Strategic focus on desirable infill and infill-adjacent submarkets where supply is more constrained.
- Ability to maintain industry-leading performance and margins.
Challenges Ahead
- Potential adverse impact from increasing interest rates and inflation on demand.
- Risks of shortages, delays, or increased costs of raw materials and labor.
- Difficulty in obtaining land-use entitlements or acquiring land at anticipated prices.
- Challenges in recruiting, retaining, or developing highly skilled employees.
- Adverse changes in the availability or volatility of mortgage financing.
Revenue & Expenses
Visualization of income flow from segment revenue to net income