Welcome to our dedicated page for Green Brick Partners news (Ticker: GRBK), a resource for investors and traders seeking the latest updates and insights on Green Brick Partners stock.
Green Brick Partners, Inc. reports news on its homebuilding and land development operations, including quarterly results, home deliveries, net new orders, backlog, gross margins, debt metrics, and share repurchase activity. The company operates through subsidiary homebuilders in Texas, Georgia, and Florida and participates in land acquisition, development, entitlements, design, construction, marketing, and sales for residential neighborhoods and master-planned communities.
Company updates also cover community openings, model-home launches, regional master-planned developments, and recognition of Green Brick communities. Recurring business references include Trophy Signature Homes, CB JENI Homes, Normandy Homes, Southgate Homes, Centre Living Homes, The Providence Group, GHO Homes, and related financial services platforms such as Green Brick Title, Green Brick Mortgage, and Green Brick Insurance.
Green Brick Partners has partnered with Taylor Morrison to acquire nearly 900 acres in Fort Worth, Texas, for a new community named Madero, which will feature over 2,500 homes. Construction is set to commence in Q1 2021, offering various home sizes ranging from 1,400 to 3,500 square feet and starting in the high $200s. The community will include extensive amenities, located within a sought-after school district, and promise proximity to employment hubs. This move expands Green Brick's footprint in a rapidly growing area of the Dallas-Fort Worth region.
Green Brick Partners, Inc. (NASDAQ: GRBK) has announced the promotion of Mr. Jed Dolson to Chief Operating Officer and Executive Vice President. Previously serving as President of the Texas Region, Dolson has overseen significant operations and growth. His new role will focus on enhancing efficiency across Green Brick's national Team Builder™ network. CEO Jim Brickman highlighted Dolson's leadership in achieving nearly $1 billion in annual revenue. Green Brick continues to be a diversified homebuilding and land development company, with operations across multiple states.
Green Brick Partners, Inc. (Nasdaq: GRBK) announced the issuance of $37.5 million in senior unsecured notes due in 2027 at a fixed rate of 3.35% to Prudential Private Capital. This follows a $75 million issuance at a 4.00% rate in 2019. The proceeds will be used to repay revolving credit borrowings and for general corporate purposes. CFO Richard Costello highlighted the company's strong market position enabling favorable note pricing. CEO Jim Brickman noted that this financing supports long-term growth strategies while expanding their relationship with Prudential.
Green Brick Partners, Inc. (Nasdaq: GRBK) reported record-breaking financial results for Q2 2020, with basic EPS of $0.67, a 131.0% increase YoY. Total revenues surged to $232.8 million, a 26.9% rise from $183.5 million, while gross profit reached $53.9 million, up 33.8%. The company also experienced a 28.5% increase in new home orders and a 34.8% growth in backlog, totaling $446.6 million. Despite the challenges posed by COVID-19, Green Brick noted strong sales recovery in May and June, attributing success to low mortgage rates and changing housing trends.
Green Brick Partners, Inc. (Nasdaq: GRBK) will release its second-quarter financial results for the period ending June 30, 2020, on August 4, 2020, after the market closes. CEO Jim Brickman will host an earnings call on August 5, 2020, at 12:00 p.m. Eastern Time to discuss the results. This call will provide insights into the company's performance. A replay will be available from August 5 until August 19, 2020. Green Brick is a diversified homebuilding and land development company with interests in multiple homebuilders across Texas, Georgia, and Florida.
Green Brick Partners (Nasdaq: GRBK) announced a change in the format of its 2020 Annual Meeting of Stockholders due to the COVID-19 pandemic. The meeting will be held virtually on June 23, 2020, at 10:00 a.m. Central Time. Stockholders of record as of April 28, 2020, can attend by registering in advance. Voting can be done online during the meeting or through previously distributed proxy materials. The company plans to return to in-person meetings in the future when public health permits.
Green Brick Partners (Nasdaq: GRBK) announced that CEO Jim Brickman and CFO Rick Costello will present at the 13th annual J.P. Morgan Homebuilding & Building Products Conference on May 18, 2020, from 11:45 AM to 12:20 PM ET. A Q&A session will follow their presentation. Investors can access the presentation via the Investors & Governance section of the Green Brick Partners website. The company specializes in homebuilding and land development, holding interests in five builders in Dallas and others in Atlanta and Florida.
Green Brick Partners reported impressive financial results for Q1 2020, achieving a record basic EPS of $0.32, up 28% from $0.25 in Q1 2019. Total revenue increased by 26.5% to $213.3 million, driven by a significant rise in residential unit revenue, which grew by 18.3% to $191.2 million. New home orders surged by 42.3%, contributing to a record backlog of $427.3 million, representing a 38.9% year-over-year increase. Despite the COVID-19 pandemic's impact on sales, the company emphasized its strong balance sheet with $106 million in cash and $37 million in available credit, allowing for flexibility amid market challenges.
Green Brick Partners, Inc. (Nasdaq: GRBK) will announce its financial results for Q1 2020 on May 11, 2020, after market close. CEO Jim Brickman will lead a conference call to discuss these results on May 12, 2020, at 12:00 p.m. ET. Investors can access the call via toll-free and international dial-ins. A replay will be available from May 12 at 3:30 p.m. ET until May 26 at 11:59 p.m. ET. Green Brick focuses on homebuilding and land development, owning interests in multiple homebuilders across Texas, Georgia, and Florida.