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 (NYSE: GRBK) reported record third quarter 2024 results with home closings revenue of $523M, up 25.7% year-over-year. The company delivered 956 homes with an average selling price of $546,900. Diluted EPS increased 27% to $1.98, while year-to-date diluted EPS grew 34.5% to $6.12. Net new orders increased 11.3% to 877 units. The company maintained strong margins with a homebuilding gross margin of 32.7%. Trophy Signature Homes represented 52% of total sales in Q3, up from 41% in the previous year. Active selling communities and homes under construction increased 23% and 21% year-over-year, respectively.
Trophy Signature Homes, a subsidiary of Green Brick Partners (NYSE: GRBK), and Meritage Homes (NYSE:MTH) announced the development of Prairie Winds, a new residential community in Hutto, Texas, opening in Q1 2025. The project will feature 1,093 homesites with prices starting in the $320,000s. Trophy Signature Homes will offer homes ranging from 1,000 to 2,700 square feet on various lot sizes. The development will include amenities like a resort-style pool, splash pad, parks, and sports courts, scheduled to open by Summer 2026. The community will be developed in seven phases and is located near Lee Martinez Elementary School.
Green Brick Partners, Inc. (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth and one of Fortune Magazine's fastest growing companies in 2023, has announced the dates for its 8-K filing and earnings call. The company will release its financial results for the third quarter ended September 30th, 2024, after the market closes on October 30th, 2024.
CEO Jim Brickman will host an earnings conference call to discuss the results on Thursday, October 31st, 2024, at 12:00 p.m. Eastern Time. The call will be webcast on the company's website, Investors.greenbrickpartners.com. Interested parties can participate in the live telephone conference call using the provided domestic and international dial-in numbers and access code. A telephone replay of the call will be available until November 30th, 2024.
The Providence Group, a subsidiary of Green Brick Partners, Inc. (NYSE: GRBK), has been ranked #2 in 2024's Best Places to Work by The Atlanta Business Chronicle. This recognition highlights the company's commitment to fostering a collaborative and supportive workplace environment. The ranking is based on employee surveys assessing workplace happiness and willingness to recommend the company to others.
Warren Jolly, President of The Providence Group, emphasized the company's dedication to advancing its strong company culture, which enables employees to build their careers while providing excellent customer service. The company has also demonstrated its commitment to community engagement through participation in the St. Jude Dream Home® giveaway, raising over $3M for St. Jude Research Hospital, and supporting local charities.
The Providence Group, a subsidiary of Green Brick Partners, Inc. (NYSE: GRBK), has announced the acquisition of a 93.4-acre tract in Cumming, GA for a new master-planned residential neighborhood called Market Place. This gated community will feature:
- 444 homesites with prices ranging from mid $500's to high $800's
- 244 traditional single-family homes with alley and front entry designs
- 200 three-story, alley entry townhomes
- Amenities including a clubhouse, pool, pickleball courts, and extensive open greenspace
- Yard maintenance provided by the HOA
Located near Georgia 400 and Cumming City Center, the community offers proximity to dining, shopping, recreational activities, and Northside Hospital. This marks The Providence Group's third venture in the fast-growing Cumming market.
Green Brick Partners reported record results for Q2 2024:
- Home closings revenue: $546.9M, up 20.4% YoY
- Gross margin: 34.5%, up 320 bps YoY
- Diluted EPS: $2.32, up 42.3% YoY
- Net new home orders: 855, up 4.0% YoY
Key highlights:
- Closed 987 units, up 26.1% YoY
- Added over 2,500 future home sites
- Return on equity: 28.3% for H1 2024 (annualized)
- Net debt to total capital ratio: 10.9%
- Repurchased 1.5% of shares for $38.4M
The company cited strong demand, supply shortages in key markets, and its land development strategy as drivers of growth.
Green Brick Partners (NYSE: GRBK), a leading homebuilder in Dallas-Fort Worth and recognized as one of Fortune Magazine's fastest growing companies in 2023, announced it will release its Q2 2024 financial results on July 31st, 2024.
CEO Jim Brickman will host an earnings call on August 1st, 2024, at 12:00 p.m. ET to discuss the results. The call will be webcast on the company's investor website, with options for both domestic and international phone participation and replay available through August 31st, 2024.
Trophy Signature Homes, a subsidiary of Green Brick Partners (NYSE: GRBK), has launched its new Windmore community in Princeton, Texas, to address the high housing demand in the Dallas/Fort Worth area. The community aims to cater to millennials and growing families by providing affordable, energy-efficient homes.
The homes, which come with standard features like tankless water heaters, LED lighting, and spray foam insulation, are Energy Star Certified. Buyers can choose from 15 floor plans ranging from 1,800 to 3,594 square feet, with prices starting in the $300,000 range.
Windmore includes amenities such as a fitness center, outdoor pool, and walking trails, with inventory homes available for immediate move-in.
Trophy Signature Homes, a subsidiary of Green Brick Partners (NYSE: GRBK), will unveil new model homes at Trails of Lavon in Lavon, Texas. The grand opening event is scheduled for July 12, 2024, from 10am to 6pm. The development features 21 different floor plans, ranging from 1,232 to 3,617 square feet, with homes priced between $291,900 and $502,900. The event provides an opportunity for homebuyers and real estate professionals to view the latest in home design and energy-efficient living. Inventory homes are ready for immediate move-in.
Trophy Signature Homes, a subsidiary of Green Brick Partners (NYSE: GRBK), announces the development of Ragsdale Ranch, a master-planned community in Georgetown, Texas. This community will feature 1,161 homes on 335.84 acres, blending local aesthetics with modern architecture. Homes will range from the low $400,000s to the low $600,000s, and offer various lot sizes and floor plans. Construction starts in 2026, with model homes available by mid-2027. Residents will enjoy resort-style amenities and access to top-rated schools in the Georgetown Independent School District. Georgetown is known for its rapid growth, family-friendly environment, and natural beauty.