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Green Brick Partners (NYSE: GRBK) Q2 2026 earnings, orders and dividend

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Green Brick Partners reported Q2 2026 net income attributable of $74 million, or $1.70 per diluted share. Home closing revenue was $471 million, and homebuilding gross margin was 29.8%, compared with 31.3% a year earlier, as the average sales price of homes delivered was 450.3 versus 511.1 (dollars in thousands).

Net new home orders rose 18.8% to 1,079, while backlog was 681 homes with revenue of 387,376 (dollars in thousands). Financial services operating income increased 90.2% to 5,639 (dollars in thousands). Liquidity totaled $462 million, including $132 million of cash, with homebuilding net debt-to-total capitalization of 6.1% and 39,588 lots owned.

The company also declared a quarterly dividend of $0.35938 per Series A depositary share, payable September 15, 2026 to holders of record on September 1, 2026, reflecting a 5.75% annual dividend rate on the $25 per-share liquidation preference.

Positive

  • None.

Negative

  • For the six months ended June 30, 2026, net income attributable to Green Brick decreased 13.9% year over year, and diluted EPS declined 12.2% to $3.09.
  • Backlog revenue fell 23.6% year over year to 387,376 (dollars in thousands), and the average sales price of backlog decreased 18.1% to 568.8 (dollars in thousands).

Filing Explained

The July 29, 2026 8-K reports that Green Brick Partners repurchased 143,026 common shares for approximately $9.4 million, leaving 43,010,895 shares issued and outstanding on June 30 versus 43,205,947 on December 31; the completed repurchase reduced the common-share count.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 net income attributable 74,170 (dollars in thousands) Three months ended June 30, 2026; from consolidated statements of income
Q2 2026 diluted EPS 1.70 Three months ended June 30, 2026; diluted net income per common share
Q2 2026 total homebuilding revenues 481,596 (dollars in thousands) Three months ended June 30, 2026; change of (9.9)% versus Q2 2025
Q2 2026 homebuilding gross margin percentage 29.8% Three months ended June 30, 2026; 31.3% in prior-year quarter
Net homebuilding debt to total capitalization ratio 6.1% Homebuilding capitalization as of June 30, 2026 from non-GAAP reconciliation
Total liquidity at quarter end $462 million Liquidity at June 30, 2026, inclusive of $132 million of cash
Net new home orders Q2 2026 1,079 Three months ended June 30, 2026; 18.8% increase versus Q2 2025
Quarterly dividend per Series A depositary share 0.35938 Dividend payable September 15, 2026 to holders of record September 1, 2026
Series A Cumulative Perpetual Preferred Stock financial
"each representing a 1/1,000th interest in a share of its 5.75% Series A Cumulative Perpetual Preferred Stock"
depositary shares financial
"holders of record as of September 1, 2026 of its depositary shares (the “Series A Depositary Shares”)"
Depositary shares are tradable certificates that represent a fractional piece of a larger security held by a third-party bank, like owning a slice of a single big pie instead of the whole pie. They let companies issue and investors buy smaller, more affordable portions of preferred stock or other instruments; holders usually receive proportional dividends and market pricing similar to ordinary shares, but may have limited voting rights and different liquidity or tax implications, which can affect income and resale value.
mechanic’s lien contracts financial
"Mechanic’s lien contracts revenue ... 541 ... 100%"
Mechanic’s lien contracts are agreements tied to the legal right that builders, contractors, suppliers or tradespeople have to secure payment by placing a claim on the property they improved. For investors, these contracts matter because they can create legal holds on a property's title, delay or block sales, and reduce the value or cash flow from an asset—like a temporary lock on a house until a contractor’s bill is paid.
VIE financial
"Consolidated inventory related to VIE | 162,498"
To vie means to compete with others for a limited prize, such as contracts, customers, market share or an acquisition target. Investors pay attention because competition can change a company’s costs, pricing power and growth prospects—like bidders pushing prices higher at an auction, firms that actively vie can drive up spending or valuations and signal how likely they are to gain or lose market advantage.
net homebuilding debt to total capitalization financial
"The following table represents the non-GAAP measure of net homebuilding debt to total capitalization."
absorption rate per average active selling community market
"Absorption rate per average active selling community per quarter | 10.0"
Q2 2026 total homebuilding revenues 481,596 (dollars in thousands) (9.9)% vs three months ended June 30, 2025
Q2 2026 net income attributable to Green Brick Partners, Inc. 74,170 (dollars in thousands) (9.5)% vs three months ended June 30, 2025
Q2 2026 diluted EPS 1.70 (8.1)% vs three months ended June 30, 2025
Q2 2026 homebuilding gross margin percentage 29.8% -150 bps vs three months ended June 30, 2025
Six months 2026 net income attributable to Green Brick Partners, Inc. 135,115 (dollars in thousands) (13.9)% vs six months ended June 30, 2025

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FAQ

What were Green Brick Partners (GRBK) Q2 2026 earnings and EPS?
Green Brick Partners reported Q2 2026 net income attributable of $74 million, or $1.70 per diluted share. This compares with $81,948 (dollars in thousands) and diluted EPS of $1.85 for Q2 2025, a year-over-year EPS decline of 8.1%.

How did GRBK's homebuilding revenue and margins change in Q2 2026?
Total homebuilding revenues in Q2 2026 were 481,596 (dollars in thousands), a (9.9)% decrease year over year. Homebuilding gross margin was 29.8% versus 31.3% in Q2 2025, reflecting a 150 bps decline in profitability on homebuilding operations.

What were Green Brick Partners (GRBK) net new home orders and backlog in Q2 2026?
Net new home orders for Q2 2026 were 1,079, up 18.8% from 908 a year earlier. Backlog stood at 681 homes with revenue of 387,376 (dollars in thousands), while the average sales price of backlog was 568.8 versus 694.7 (dollars in thousands) in Q2 2025.

How did GRBK's financial services segment perform in Q2 2026?
Financial services revenues were 12,243 (dollars in thousands) in Q2 2026, up from 6,315 a year earlier. Financial services operating income increased 90.2% to 5,639 (dollars in thousands), supported by 521 loan originations with principal of 196,531 (dollars in thousands).

What dividend did Green Brick Partners (GRBK) announce on its Series A depositary shares?
Holders of Series A depositary shares will receive a quarterly dividend of $0.35938 per share on September 15, 2026, to holders of record on September 1, 2026. This reflects a 5.75% annual dividend rate on the $25 per-share liquidation preference.

What is GRBK's liquidity and leverage position as of June 30, 2026?
Total liquidity was $462 million, including $132 million of cash. The homebuilding debt-to-total capital ratio was 11.2%, and net homebuilding debt-to-total capitalization was 6.1%, based on the non-GAAP capitalization reconciliation provided.

How many lots does Green Brick Partners (GRBK) control as of June 30, 2026?
Green Brick owned 39,588 lots and had 12,634 lots under contract as of June 30, 2026. In total, owned and under-contract lots were 52,222, compared with 48,828 at December 31, 2025, indicating growth in the company’s land pipeline.
0001373670false00013736702026-07-292026-07-290001373670us-gaap:CommonStockMember2026-07-292026-07-290001373670exch:XNYS2026-07-292026-07-290001373670exch:XCHI2026-07-292026-07-290001373670us-gaap:SeriesAPreferredStockMember2026-07-292026-07-29


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

___________________

FORM 8-K
___________________

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026

Green Brick Partners, Inc.

(Exact name of registrant as specified in its charter)
Delaware001-3353020-5952523
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification Number)
5501 Headquarters Drive,Ste 300W
Plano,TX75024(469)573-6755
(Address of principal executive offices, including Zip Code)(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report) Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per share
GRBK
The New York Stock Exchange
NYSE Texas
Depositary Shares (each representing a 1/1000th interest in a share of 5.75% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share)
GRBK PRA
The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨



Item 2.02 Results of Operations and Financial Condition.

On July 29, 2026, Green Brick Partners, Inc. (the “Company”) issued a press release announcing its financial and operational results for the year and second quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99 to this report.

Item 8.01 Other Events.

The Company announced today that on September 15, 2026 holders of record as of September 1, 2026 (the “Record Date”) of its depositary shares (the “Series A Depositary Shares” (NYSE:GRBK.PRA)), each representing a 1/1,000th interest in a share of its 5.75% Series A Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”) will receive a quarterly dividend in the amount of $359.38 per share of Series A Preferred Stock (equivalent to $0.35938 per Series A Depositary Share), which will cover the period from, and including, June 15, 2026 through, but not including September 15, 2026. The dividend represents dividends at the rate of 5.75% of the $25,000.00 liquidation preference per share (equivalent to $25.00 per depositary share) per year (equivalent to $1,437.50 per share per year or $1.4375 per Series A Depositary Share per year).


Item 9.01 Financial Statements and Exhibits.

(d)     Exhibits
Exhibit No.
Description of Exhibit
99
Press Release dated July 29, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document).







SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                
GREEN BRICK PARTNERS, INC.
By:/s/ Jeffery D. Cox
Name:Jeffery D. Cox
Title:Chief Financial Officer

Date:    July 29, 2026



Exhibit 99
greenbrickpartnerslogocopya.jpg
GREEN BRICK PARTNERS, INC. REPORTS SECOND QUARTER 2026 RESULTS


PLANO, Texas, July 29, 2026 — Green Brick Partners, Inc. (NYSE: GRBK) (“Green Brick,” “we,” or the “Company”), today announced results for its second quarter ended June 30, 2026. Net income attributable to Green Brick in the second quarter was $74 million or $1.70 per diluted share.

2026 SECOND QUARTER HIGHLIGHTS

•Net new home orders of 1,079, up 19% year over year
•Backlog of 681 homes with a dollar value of $387 million
•New home deliveries of 1,047
•Home closing revenue of $471 million
•Delivered first homes in Houston
•Homebuilding gross margins of 29.8%
•Book value of $44.82 per share increased 16% year over year
•Liquidity of $462 million, inclusive of $132 million of cash
•Homebuilding debt to total capital of 11.2%; net homebuilding debt to total capital of 6.1%
•Repurchased 143,026 shares of common stock for approximately $9.4 million


Net new home orders increased 19% year over year to 1,079 units. Monthly sales pace for the second quarter was 3.3 sales per community, compared to 3.0 in the same period of the prior year. Incentives on new orders remain elevated at 9% as we continue to respond to market conditions to maintain sales pace. Our sales cancellation rate of 7.8% for the quarter remained among the lowest of our public company peers.

The Company delivered 1,047 new homes in the second quarter, which was relatively unchanged year over year, generating home closings revenue of $471 million. Homebuilding gross margin for the quarter was 29.8%, up 90 bps sequentially and down 150 bps year over year.

Jim Brickman, CEO and co-founder said, "Our second quarter results demonstrate the strength of Green Brick's differentiated operating model where our growth is focused on building in our large, self developed master planned neighborhoods where we believe we provide both affordability and upgraded amenities to our buyers."

"While affordability challenges and economic uncertainty continue to impact buyers, demand in our Texas markets remained strong. Our disciplined operators delivered a 19% year-over-year increase in net new home orders as buyers responded to our targeted incentive strategy and attractive product offerings, especially with our Trophy Signature Homes brand. We were particularly encouraged by the improvement in sales pace during the quarter. Orders exceeded deliveries, resulting in sequential backlog growth and positioning the company well for the second half of 2026."

"Our gross margins continue to be industry-leading and are a direct result of our disciplined land acquisition and development strategy. By concentrating on infill and infill-adjacent communities in high-demand submarkets, we continue to benefit from attractive locations, efficient development economics, and a competitive positioning that is difficult to replicate."
"We are also pleased with the progress of our financial services offerings, especially the growth of our wholly-owned mortgage company, Green Brick Mortgage" added Mr. Brickman. "Financial services operating income for the quarter increased 91% year over year to $5.7 million and exceeded $10 million year to date as Green Brick Mortgage continued to expand, reflecting increased scale and higher customer adoption across our platform. We believe our integrated financial services offering enhances the customer experience while creating an additional source of earnings growth."

1

"Total liquidity at quarter end was $462 million. The company's homebuilding debt-to-total capital ratio at quarter end was 11.2% and our net homebuilding debt-to-total capital ratio was 6.1%, compared to 14.4% and 9.4%, respectively, over the prior year. Despite having only 6% net homebuilding debt to total capital, our owned lot position grew from 37,023 lots at year-end to 39,588 lots as of June 30, 2026, an increase of 7% sequentially and a 11.6% increase year over year."

Mr. Brickman concluded, “We have worked hard to build an investment grade balance sheet that gives us flexibility. We believe our strong liquidity and disciplined capital strategy enable us to invest with confidence, remain selective in the opportunities we pursue, and position the Company to capitalize on future growth while continuing to generate attractive returns for shareholders.”


Results for the Quarter Ended June 30, 2026
(Dollars in thousands, except per share data)Three Months Ended June 30,
20262025Change
New homes delivered1,047 1,042 0.5 %
Total homebuilding revenues$481,596 $534,563 (9.9)%
Homebuilding cost of revenues
336,320 367,049 (8.4)%
Total gross profit$145,276 $167,514 (13.3)%
Income before income taxes$99,477 $112,288 (11.4)%
Net income attributable to Green Brick Partners, Inc.$74,170 $81,948 (9.5)%
Diluted net income attributable to Green Brick Partners, Inc. per common share$1.70 $1.85 (8.1)%
Residential units revenue$471,996 $532,525 (11.4)%
Average sales price of homes delivered$450.3 $511.1 (11.9)%
Homebuilding gross margin percentage29.8 %31.3 %-150 bps
Backlog revenue$387,376 $507,137 (23.6)%
Backlog units681 730 (6.7)%
Homes under construction2,205 2,204 — %


Three Months Ended June 30,
20262025%
Total financial services revenues$12,243 $6,315 93.9 %
Financial services expenses(6,604)(3,351)97.1 %
Financial services operating income$5,639 $2,964 90.2 %
Total originations:
Loans521146256.8%
Principal$196,531 $31,374 526.4%
Average FICO score736745




2


Results for the Six Months Ended June 30, 2026:
(Dollars in thousands, except per share data)Six Months Ended June 30,
20262025Change
New homes delivered1,955 1,952 0.2 %
Total homebuilding revenues$937,583 $1,019,016 (8.0)%
Homebuilding cost of revenues
660,592 695,717 (5.0)%
Total gross profit$276,991 $323,299 (14.3)%
Income before income taxes$183,740 $218,436 (15.9)%
Net income attributable to Green Brick Partners, Inc.$135,115 $157,007 (13.9)%
Diluted net income attributable to Green Brick Partners, Inc. per common share$3.09 $3.52 (12.2)%
Residential units revenue$920,483 $1,014,674 (9.3)%
Average sales price of homes delivered$470.3 $519.8 (9.5)%
Homebuilding gross margin percentage29.4 %31.7 %-230 bps

Six Months Ended June 30,
20262025%
Total financial services revenues$21,915 $11,182 96.0 %
Financial services expenses(11,955)(6,409)86.5 %
Financial services operating income$9,960 $4,773 108.7 %
Total originations:
Loans886251253.0%
Principal$346,886 $108,901 218.5%
Average FICO score739743
Earnings Conference Call:
We will host our earnings conference call to discuss our second quarter ended June 30, 2026 at 12:00 p.m. Eastern Time on Thursday, July 30, 2026. The call can be accessed by dialing 1-800-715-9871 for domestic participants or 1-646-307-1973 for international participants and should reference meeting number 3162560. Participants may also join the call via webcast at: https://events.q4inc.com/attendee/561994773.

A telephone replay of the call will be available through August 30, 2026. To access the telephone replay, the domestic dial-in number is 1-800-770-2030, the international dial-in number is 1-800-770-2030 and the access code is 3162560, or by using the link at investors.greenbrickpartners.com.

3

GREEN BRICK PARTNERS, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(Unaudited)


Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenues
Residential units revenue$471,996 $532,525 $920,483 $1,014,674 
Land and lots revenue9,600 2,038 17,100 4,342 
481,596 534,563 937,583 1,019,016 
Financial services revenue
$12,243 $6,315 $21,915 $11,182 
Total revenues493,839 540,878 959,498 1,030,198 
Homebuilding cost of revenues
Cost of residential units331,418 366,072 650,034 693,525 
Cost of land and lots4,902 977 10,558 2,192 
336,320 367,049 660,592 695,717 
Financial services expenses(6,604)(3,420)(11,955)(6,478)
Selling, general and administrative expenses(54,396)(57,437)(106,989)(110,004)
Equity in income of unconsolidated entities611 511 1,731 984 
Other income (loss), net2,347 (1,195)2,047 (547)
Income before income taxes99,477 112,288 183,740 218,436 
Income tax expense20,699 22,957 39,124 45,180 
Net income78,778 89,331 144,616 173,256 
Less: Net income attributable to noncontrolling interests4,608 7,383 9,501 16,249 
Net income attributable to Green Brick Partners, Inc.$74,170 $81,948 $135,115 $157,007 
Net income attributable to Green Brick Partners, Inc. per common share:
Basic$1.71 $1.86 $3.10 $3.53 
Diluted$1.70 $1.85 $3.09 $3.52 
Weighted average common shares used in the calculation of net income attributable to Green Brick Partners, Inc. per common share:
Basic43,070 43,770 43,110 44,103 
Diluted43,279 43,824 43,304 44,188 

4

GREEN BRICK PARTNERS, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)    (Unaudited)
June 30, 2026December 31, 2025
ASSETS
Cash and cash equivalents$131,642 $154,590 
Restricted cash22,766 36,395 
Receivables28,337 39,982 
Real estate inventory:
Inventory owned2,091,391 1,941,524 
Consolidated inventory related to VIE162,498 157,687 
Total inventory2,253,889 2,099,211 
Mortgage loans held for sale
34,765 49,099 
Investments in unconsolidated entities77,708 93,050 
Right-of-use assets - operating leases6,740 7,475 
Property and equipment, net6,390 6,316 
Earnest money deposits10,683 13,151 
Deferred income tax assets, net11,243 11,243 
Intangible assets, net154 197 
Goodwill680 680 
Other assets25,754 23,378 
Total assets$2,610,751 $2,534,767 
LIABILITIES AND EQUITY
Liabilities:
Accounts payable$110,927 $94,516 
Accrued expenses132,602 152,637 
Customer and builder deposits26,422 25,716 
Lease liabilities - operating leases7,844 8,637 
Borrowings on lines of credit, net(2,152)(2,465)
Warehouse lines of credit
34,632 46,398 
Senior unsecured notes, net237,164 261,972 
Notes payable14,371 14,371 
Total liabilities561,810 601,782 
Commitments and contingencies
Redeemable noncontrolling interest in equity of consolidated subsidiary55,035 52,271 
Equity:
Green Brick Partners, Inc. stockholders’ equity
Preferred stock, $0.01 par value: 5,000,000 shares authorized; 2,000 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
47,603 47,603 
Common stock, $0.01 par value: 100,000,000 shares authorized; 43,010,895 issued and outstanding as of June 30, 2026 and 43,205,947 issued and outstanding as of December 31, 2025, respectively
430 432 
Additional paid-in capital241,886 243,816 
Retained earnings1,685,577 1,567,111 
Total Green Brick Partners, Inc. stockholders’ equity1,975,496 1,858,962 
Noncontrolling interests18,410 21,752 
Total equity1,993,906 1,880,714 
Total liabilities and equity$2,610,751 $2,534,767 

5

GREEN BRICK PARTNERS, INC.
SUPPLEMENTAL INFORMATION
(Unaudited)

Residential Units Revenue and New Homes Delivered (dollars in thousands)Three Months Ended June 30,Six Months Ended June 30,
20262025Change%20262025Change%
Home closings revenue$471,455 $532,525 $(61,070)(11.5)%$919,461 $1,014,674 $(95,213)(9.4)%
Mechanic’s lien contracts revenue541 — 541 100%1,022 — 1,022 100.0 %
Residential units revenue$471,996 $532,525 $(60,529)(11.4)%$920,483 $1,014,674 $(94,191)(9.3)%
New homes delivered1,047 1,042 5 0.5%1,955 1,952 3 0.2 %
Average sales price of homes delivered$450.3 $511.1 $(60.8)(11.9)%$470.3 $519.8 $(49.5)(9.5)%
    

Land and Lots Revenue
(dollars in thousands)		Three Months Ended June 30,Six Months Ended June 30,
20262025Change%20262025Change%
Lots revenue$— $2,038 $(2,038)(100)%$7,500 $4,342 $3,158 72.7 %
Land revenue9,600 — 9,600 100.0%9,600 — 9,600 100.0%
Land and lots revenue$9,600 $2,038 $7,562 371%$17,100 $4,342 $12,758 293.8 %
Lots closed— 18 (18)(100)%75 42 33 78.6 %
Average sales price of lots closed$— $113.2 $(113.2)(100)%$100.0 $103.4 $(3.4)(3.3)%

New Home Orders and Backlog
(dollars in thousands)		Three Months Ended June 30,Six Months Ended June 30,
20262025Change%20262025Change%
Net new home orders1079 908 171 18.8%2,116 2,014 102 5.1 %
Revenue from net new home orders$488,627 $454,900 $33,727 7.4%$970,168 $1,032,529 $(62,361)(6.0)%
Average selling price of net new home orders$452.9 $501.0 $(48.1)(9.6)%$458.5 $512.7 $(54.2)(10.6)%
Cancellation rate7.8 %9.9 %(2.1)%(21.2)%7.8 %7.9 %(0.1)%(1.3)%
Absorption rate per average active selling community per quarter10.0 8.9 1.1 12.4%10.0 9.7 0.3 3.1 %
Average active selling communities108 102 6 5.9%106 104 2 1.9 %
Active selling communities at end of period106 102 4 3.9%
Backlog revenue$387,376 $507,137 $(119,761)(23.6)%
Backlog units681 730 (49)(6.7)%
Average sales price of backlog$568.8 $694.7 $(125.9)(18.1)%
6

GREEN BRICK PARTNERS, INC.
SUPPLEMENTAL INFORMATION
(Unaudited)
June 30, 2026December 31, 2025
Central(1)
Southeast(2)
Total
Central(1)
Southeast(2)
Total
Lots owned
Finished lots4,212 1,220 5,432 4,518 663 5,181 
Lots in communities under development29,277 1,079 30,356 26,339 1,703 28,042 
Land held for future development(3)
3,800 — 3,800 3,800 — 3,800 
Total lots owned37,289 2,299 39,588 34,657 2,366 37,023 
Lots under contract
Lots and land under option contracts8,143 1,438 9,581 8,297 955 9,252 
Lots under option through unconsolidated development joint ventures3,009 44 3,053 2,488 65 2,553 
Total lots under contract(4)
11,152 1,482 12,634 10,785 1,020 11,805 
Total lots owned and under contract (5)
48,441 3,781 52,222 45,442 3,386 48,828 
Percentage of lots owned77.0 %60.8 %75.8 %76.3 %69.9 %75.8 %
(1)    The Texas market.
(2)    The Atlanta and Florida markets.
(3)    Land held for future development consists of raw land parcels where development activities have been postponed due to market conditions or other factors.
(4)    As of June 30, 2026 and December 31, 2025, 53.3% and 16.6% of the total lots under contract had refundable deposits.
(5)    Total lots excludes lots with homes under construction.

Non-GAAP Financial Measures
In this press release, we utilize certain financial measures that are non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they and similar measures are useful to management and investors in evaluating our operating performance and financing structure. We also believe these measures facilitate the comparison of our operating performance and financing structure with other companies in our industry. Because these measures are not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), they may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.

The following table represents the non-GAAP measure of net homebuilding debt to total capitalization. Net homebuilding debt to total capitalization is calculated as the total debt less cash and cash equivalents, divided by the sum of total Green Brick Partners, Inc. stockholders’ equity and total debt less homebuilding cash and cash equivalents. The closest GAAP financial measure to the net debt to total capitalization ratio is the debt to total capitalization ratio. The following table represents a reconciliation of the net homebuilding debt to total capitalization ratio as of June 30, 2026:

Total capitalization
Homebuilding capitalization(1)
GrossCash and cash equivalentsNetGrossCash and cash equivalentsNet
Total debt, net of debt issuance costs$284,015$(131,642)$152,373$249,383$(121,583)$127,800
Total Green Brick Partners, Inc. stockholders’ equity1,975,496— 1,975,4961,975,496— 1,975,496
Total capitalization $2,259,511$(131,642)$2,127,869$2,224,879$(121,583)$2,103,296
Debt to total capitalization ratio12.6 %11.2 %
Net debt to total capitalization ratio7.2 %6.1 %
(1) Homebuilding capitalization ratio excludes cash and debt related to our wholly owned mortgage company.
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About Green Brick Partners, Inc.
Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a 50% interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also retains interests in related financial services platforms, including Green Brick Title, GRBK Mortgage, and Green Brick Insurance. Green Brick is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master-planned communities. For more information about Green Brick Partners Inc.’s subsidiary homebuilders, please visit https://greenbrickpartners.com/brands-services/.

Forward-Looking and Cautionary Statements:
This press release and our earnings call contain “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words “anticipate,” “believe,” “consider,” “estimate,” “expect,” “feel,”, “poised,” “intend,” “plan,” “predict,” “seek,” “strategy,” “target,” “will” or other words of similar meaning. Specifically, these statements reflect our beliefs and expectations regarding (i) our strategic advantages, including our unique business model and focus on infill and infill-adjacent locations, and the impact on our future results;(ii) our ability to adapt to evolving market conditions; (iii) our ability to continue to deliver peer-leading gross margins; (iv) our integrated financial services offerings and its impact on our results ; (v) our ability to adjust pricing in order to meet market demand; (vi) our investments in land, lots and development in 2026; (vii) our projections for land development in 2026; (viii) our competitive advantages; (ix) our land pipeline and the impact it will have on our future success; (x) our expectations for Green Brick Mortgage’s capture rate in 2026; (xi) our land position(xii) our lot and land strategy and its impact on our future financial position; (xiii) our ability to successfully implement our growth strategy, including our expectations for expansion and growth of our Trophy brand and the impact that expansion will have on our future results; (xiv) our ability to opportunistically deploy capital to maximize shareholder returns, and to accelerate growth as the housing market improves; (xv) the credit worthiness of our buyers, quality of our product; (xvi) the desirability of our communities; (xvii) our future financial and operational performance; (xviii) the timing of our expansion of Green Brick Mortgage into Atlanta; and (xix) expansion of our financial services through Green Brick Mortgage and Green Brick Insurance. These forward-looking statements reflect our current views about future events and involve estimates and assumptions which may be affected by risks and uncertainties in our business, as well as other external factors, which could cause future results to materially differ from those expressed or implied in any forward-looking statement. These risks include, but are not limited to: (1) general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; (2) changes in macroeconomic conditions, including increasing interest rates and inflation that could adversely impact demand for new homes or the ability of potential buyers to qualify; (3) shortages, delays or increased costs of raw materials and increased demand for materials, or increases in other operating costs, including costs related to labor, real estate taxes and insurance, which in each case exceed our ability to increase prices; (4) significant periods of inflation or deflation; (5) a shortage of labor; (6) an inability to acquire land in our markets at anticipated prices or difficulty in obtaining land-use entitlements; (7) our inability to successfully execute our strategies, including the successful development of our communities within expected time frames and the growth and expansion of our Trophy brand; (8) a failure to recruit, retain or develop highly skilled and competent employees; (9) the geographic concentration of our operations; (10) government regulation risks; (11) adverse changes in the availability or volatility of mortgage financing; (12) severe weather events or natural disasters; (13) difficulty in obtaining sufficient capital to fund our growth; (14) our ability to meet our debt service obligations; (15) a decline in the value of our inventories and resulting write-downs of the carrying value of our real estate assets; (16) our ability to adequately self-insure; and (17) changes in accounting standards that adversely affect our reported earnings or financial condition. Green Brick assumes no obligation to update any forward-looking statements, which speak only as of the date they are made. For a more detailed discussion of these and other risks and uncertainties applicable to Green Brick please see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.


Contact:
Investor Relations
469-573-6755
IR@greenbrickpartners.com
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