Green Brick Partners Inc Stock Price, News & Analysis

Green Brick Partners, Inc. (Nasdaq: GRBK) reported record first-quarter results for 2021, marking its best performance to date. Key figures include a 64.5% increase in diluted earnings per share to $0.51, and net income of $25.97 million, up 63.2% year-over-year. The backlog surged 133.0% to $995.7 million, and net new home orders rose 71.2% to 1,082 homes. With 2,303 homes under construction, the company anticipates continued growth driven by high demand despite some supply chain challenges.

Green Brick Partners, Inc. (Nasdaq: GRBK) announced plans to release its first quarter financial results for the period ending March 31, 2021, after market close on May 4, 2021. CEO Jim Brickman will discuss these results during an earnings conference call scheduled for May 5, 2021, at 12:00 p.m. Eastern Time. Investors can access the call via toll-free and international dial-in numbers, and a replay will be available until May 19, 2021. Green Brick is a diversified homebuilding and land development company, owning several homebuilders across Texas, Georgia, and Florida.

Green Brick Partners reported strong financial results for the fourth quarter and fiscal year 2020, achieving record diluted EPS of $2.24, a 93% increase year-over-year. Total revenues reached $976 million, up 23% from 2019, driven by 50% growth in net new home orders. The company’s inventory of controlled lots rose to 14,468, a 58% increase in six months. Notably, net income grew to $113.7 million, a 94% increase. A new $50 million stock repurchase program was authorized, enhancing shareholder value. The firm anticipates ongoing growth into 2021, supported by a strong backlog and increased home prices.

Green Brick Partners has successfully issued $125 million of senior unsecured notes due in 2028, with a fixed interest rate of 3.25%. This private placement, structured by Prudential Private Capital, is the third issuance in recent years, enhancing the company’s long-term capital structure. The proceeds will be used primarily to repay existing debt and cover transaction costs. The firm plans to release its financial results for the fourth quarter and year ended December 31, 2020, on March 8, 2021, and will discuss this during a conference call on March 9.

Green Brick Partners, Inc. (Nasdaq: GRBK) will release its financial results for the fourth quarter and year ended December 31, 2020, after market close on March 8, 2021. An earnings conference call hosted by CEO Jim Brickman will follow on March 9, 2021, at 12:00 p.m. ET. Participants can access the call via specific dial-in numbers and must use conference ID 5479336. A replay will be available from March 9 through March 23, 2021.

Green Brick Partners (Nasdaq: GRBK) has priced a secondary offering of 6,000,000 shares, raising approximately $125.7 million for certain affiliates of Greenlight Capital. The underwriters are granted a 30-day option to purchase an additional 900,000 shares. Green Brick will not receive any proceeds from the sale. The offering is expected to close on January 27, 2021, subject to standard conditions. Barclays Capital and Goldman Sachs are the joint book-running managers for this offering, which is conducted under an effective shelf registration statement with the SEC.

Green Brick Partners (Nasdaq: GRBK) has launched a public offering of 6,000,000 shares of its common stock, primarily through affiliates of Greenlight Capital. An additional 900,000 shares may be available through a 30-day underwriter option. The company will not receive proceeds from this offering, and Barclays Capital and Goldman Sachs are the lead managers. A shelf registration statement has been filed with the SEC to facilitate this offering, which is subject to customary closing conditions and market risks.

Green Brick Partners, Inc. (Nasdaq: GRBK) reported record financial results for 2020, with diluted earnings per share expected between $2.21 and $2.23, a surge of over 90% from 2019. The company achieved 848 net new orders in Q4, a 43.7% increase year-over-year, contributing to a $687 million backlog, up 98%. New homes delivered rose 13.8% in Q4 and 28.4% for the year. Despite ramping up production with 1,004 homes started in Q4, total debt decreased by $18 million compared to the previous year. The firm anticipates strong growth potential in 2021.