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United Homes Group Inc (UHG) provides investors and housing market observers with comprehensive news coverage of this innovative homebuilder. Track official press releases and market updates about UHG's affordable housing developments, strategic partnerships, and operational expansions across the Southeast United States.
This resource centralizes critical updates including quarterly earnings reports, leadership announcements, and progress on the company's land-light construction model. Discover how UHG balances scalable growth with sustainable practices in South Carolina, North Carolina, Georgia, and other key markets.
Bookmark this page to monitor UHG's evolving position in the entry-level housing sector. Stay informed about new community developments, financial milestones, and industry recognition for this Oregon-founded homebuilder.
United Homes Group (NASDAQ: UHG) announced a correction regarding the timing of their first quarter 2024 earnings call, now scheduled for Friday, May 10, at 8:30 AM Eastern Time instead of 8:00 AM as previously stated. This adjustment aims to provide accurate information to investors and stakeholders.
United Homes Group, Inc. reported their first quarter 2024 results, showing 311 homes closed with revenue of $100.8 million, an ASP of $335,000 for production-built homes, 384 net new home orders, 63 active communities, and liquidity of $92.0 million. They expanded in the Myrtle Beach market and entered into an agreement for a land fund of up to $150 million. Net income for Q1 2024 was $24.9 million, adjusted book value was $87.2 million. Revenues were $100.8 million, with 311 home closings and 384 net new home orders. ASP of production-built homes increased by 6.7% compared to Q1 2023. Gross profit percentage decreased to 16.0% due to interest rate market conditions. SG&A expenses were 16.9% of revenues, with Adjusted SG&A at 14.2%. Adjusted EBITDA was $7.3 million. The acquisition of Creekside Custom Homes, for $12.7 million expanded UHG's presence in coastal South Carolina.
United Homes Group (NASDAQ: UHG) will release its first quarter 2024 results on May 10, 2024. A conference call will be held on the same day to discuss the results. Interested parties can access the call via phone or webcast.
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