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Smith Douglas Homes Corp. reports recurring news on homebuilding results, including home closings, home closing revenue, gross margin, net new orders, backlog, pricing and incentive activity. Company updates also describe demand conditions for attainable housing, construction cycle efficiency, inventory turns and the pace of expansion across Southern markets such as Dallas, Chattanooga and the Alabama Gulf Coast.
Additional Smith Douglas Homes news covers scheduled earnings calls, regional leadership appointments, division management changes and technology oversight for network infrastructure, systems development, cybersecurity and enterprise platforms that support its homebuilding operations.
Smith Douglas Homes Corp. (NYSE: SDHC) has announced its schedule for the second quarter 2024 earnings release and conference call. The company will release its Q2 2024 results before the market opens on Wednesday, August 14, 2024. A conference call to discuss the results and conduct a Q&A session will be held on the same day at 8:30 AM Eastern Time.
Interested parties can participate in the call via phone or webcast. The toll-free dial-in number for North America is (+1) 800-715-9871, while the international number is (+1) 646-307-1963. The Conference ID is 9762287. A replay will be available for 7 days following the event, accessible via the toll-free North America number (+1) 800-770-2030 with the playback passcode 9762287.
Smith Douglas Homes (NYSE: SDHC) has announced key leadership changes. Eddy Kleid, formerly VP of Finance, will become Division President of the new Central Georgia Division. Eddy has been with the company since 2017 and has played a significant role in their recent IPO. Joe Thomas joins as the new SVP of Accounting & Finance, bringing extensive experience from Bank of America Securities. Joe also contributed to the Smith Douglas IPO and holds degrees from Bucknell and Cornell. CEO Greg Bennett believes these changes will fuel the company’s growth and success.
Smith Douglas Homes (NYSE: SDHC) announced strong Q1 2024 results. Net new orders grew 15% to 765, and home closings rose 13% to 566. Revenue increased 13% to $189.2 million, with pre-tax income reaching $21.4 million. Earnings per diluted share were $0.33. The backlog of homes increased by 19% to 1,110, and the sales value of backlog homes grew 25% to $381.2 million. The company's debt-to-book capitalization stands at 1.3%, with an active community count rising 49% to 70 and total controlled lots up 82% to 14,117.
CEO Greg Bennett highlighted the successful IPO in January and the expansion into Central Georgia and Chattanooga. CFO Russ Devendorf emphasized a strong financial position with nearly $33 million in cash and $333 million in stockholders’ equity, noting zero borrowings under a $250 million unsecured credit facility.
Smith Douglas Homes (NYSE: SDHC) affiliates in Atlanta, GA, Charlotte, NC, and Nashville, TN have been honored with GuildQuality's 2024 Guildmaster Award for exceptional customer service in the residential construction industry. Out of 2,000 applicants, Smith Douglas Homes is among the 400+ businesses recognized for superior customer care. The recognition is based on high recommendation rates from customers surveyed by GuildQuality.
Smith Douglas Homes Corp. (NYSE: SDHC) will release its first-quarter 2024 results on May 14, 2024, followed by a conference call and webcast at 8:30 AM Eastern Time. Interested parties can participate through dial-in numbers or the webcast link on the company's investor relations website.
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