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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 (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.