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Green Brick Partners, Inc. Reports First Quarter 2025 Results

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Home Closing Revenue of $495M, a Record for Any First Quarter

Homebuilding Gross Margin of 31.2%

Diluted EPS of $1.67

Record Net New Home Orders of 1,106

Debt to Total Capital of 14.5%; Net Debt to Total Capital of 9.8%

PLANO, Texas--(BUSINESS WIRE)-- Green Brick Partners, Inc. (NYSE: GRBK) (“we,�, “our,� “Green Brick� or the “Company�) today reported record results for its first quarter ended March 31, 2025.

“Our strategic focus on infill and infill-adjacent locations, coupled with our self-development strategy, continued to yield strong results for Green Brick. Driven by strong home closings, we commenced 2025 with 11.8% year-over-year growth in homebuilding revenue to $495 million, a record for any first quarter in company history. Furthermore, we maintained our leading position among our public peers with respect to homebuilding gross margins even with the affordability challenges created by the elevated interest rate environment, while experiencing only a modest year-over-year decline of 220 bps to 31.2%,� said Jim Brickman, CEO and Co-Founder. “Diluted EPS for the first quarter decreased year-over-year 8.2% to $1.67 primarily due to the sale of our 49.9% interest in Challenger Homes in Q1 2024, which benefited last year’s earnings by $0.21 per share. Excluding this one-time benefit, Diluted EPS in Q1 2024 was $1.61. Taking that into account, 2025 underlying earnings grew 3.7% in Q1 2025 compared to the prior year.�

“At the same time, we experienced a healthy spring selling season evidencing more typical seasonality, which aligned with our first quarter expectations. Our net new orders in the first quarter increased 26% sequentially and 3.3% year-over-year, reaching a record of 1,106 homes. Despite a more challenging economic environment, overall incentives for new orders increased only 30 bps sequentially from 6.4% of sales price in Q4 2025 to 6.7% in Q1 2025. Moreover, incentive levels declined steadily throughout the quarter, ending at 6.3% in March. Our quarterly absorption rate per average active selling community was 10.6 and our cancellation rate was only 6.1%, the lowest among public homebuilders. Looking ahead, even with strong closings during the quarter, the number of homes in backlog increased 29% from Q4 2024 to 864 homes in Q1 2025.�

“We continued to invest in future growth during the first quarter, increasing our total lots owned and controlled to over 40,500. Of these owned and controlled lots, we intend to self-develop approximately 97.9% of these lots, which gives us better control of pace and deliveries, as well as contributes to our industry-leading margins, Additionally, as part of our commitment to returning value to shareholders, we bought back approximately 668,000 shares of stock for $38.3 million in 2025 through the end of April,� said Mr. Brickman.

“While the duration and extent of the impact from tariffs remains unclear, we are diligently monitoring the market conditions and working closely with our entire supply chain regarding recent economic developments and approaches to mitigate any potential impact of the tariffs. Recognizing the heightened importance of liquidity in the current period of economic uncertainty and volatility, Green Brick ended the quarter with $103 million in cash, and we currently have $330 million in available capacity on our revolving credit facility. Our investment grade balance sheet and low financial leverage we believe provides us with flexibility to navigate and adapt to evolving market conditions, ensuring we have capital available for strategic opportunities as they arise,� concluded Mr. Brickman.

Results for the Quarter Ended March 31, 2025:

(Dollars in thousands, except per share data)

Three Months Ended March 31,

Ìý

Ìý

Ìý

2025

Ìý

2024

Ìý

%

New homes delivered

Ìý

910

Ìý

Ìý

Ìý

821

Ìý

Ìý

10.8

%

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Total revenues

$

497,621

Ìý

Ìý

$

447,338

Ìý

Ìý

11.2

%

Total cost of revenues

Ìý

341,836

Ìý

Ìý

Ìý

299,081

Ìý

Ìý

14.3

%

Total gross profit

$

155,785

Ìý

Ìý

$

148,257

Ìý

Ìý

5.1

%

Income before income taxes

$

106,148

Ìý

Ìý

$

115,633

Ìý

Ìý

(8.2

)%

Net income attributable to Green Brick Partners, Inc.

$

75,059

Ìý

Ìý

$

83,301

Ìý

Ìý

(9.9

)%

Diluted net income attributable to Green Brick Partners, Inc. per common share

$

1.67

Ìý

Ìý

$

1.82

Ìý

Ìý

(8.2

)%

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Residential units revenue

$

495,317

Ìý

Ìý

$

443,284

Ìý

Ìý

11.7

%

Average sales price of homes delivered

$

544.3

Ìý

Ìý

$

539.7

Ìý

Ìý

0.9

%

Homebuilding gross margin percentage

Ìý

31.2

%

Ìý

Ìý

33.4

%

Ìý

-220 bps

Selling, general and administrative expenses as a percentage of residential units revenue

Ìý

11.1

%

Ìý

Ìý

11.4

%

Ìý

-30 bps

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Backlog revenue

$

594,171

Ìý

Ìý

$

725,489

Ìý

Ìý

(18.1

)%

Homes under construction

Ìý

2,296

Ìý

Ìý

Ìý

2,233

Ìý

Ìý

2.8

%

Earnings Conference Call:

We will host our earnings conference call to discuss our first quarter ended March 31, 2025 at 12:00 p.m. Eastern Time on Thursday, May 1, 2025. The call can be accessed by dialing 1-888-660-6353 for domestic participants or 1-929-203-2106 for international participants and should reference meeting number 3162560. Participants may also join the call via webcast at:

A telephone replay of the call will be available through May 31, 2025. To access the telephone replay, the domestic dial-in number is 1-800-770-2030, the international dial-in number is 1-609-800-9909 and the access code is 3162560, or by using the link at investors.greenbrickpartners.com.

GREEN BRICK PARTNERS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

(Unaudited)

Ìý

Ìý

Ìý

Three Months Ended March 31,

Ìý

Ìý

2025

Ìý

2024

Residential units revenue

Ìý

$

495,317

Ìý

Ìý

$

443,284

Ìý

Land and lots revenue

Ìý

Ìý

2,304

Ìý

Ìý

Ìý

4,054

Ìý

Total revenues

Ìý

Ìý

497,621

Ìý

Ìý

Ìý

447,338

Ìý

Cost of residential units

Ìý

Ìý

340,621

Ìý

Ìý

Ìý

295,313

Ìý

Cost of land and lots

Ìý

Ìý

1,215

Ìý

Ìý

Ìý

3,768

Ìý

Total cost of revenues

Ìý

Ìý

341,836

Ìý

Ìý

Ìý

299,081

Ìý

Total gross profit

Ìý

Ìý

155,785

Ìý

Ìý

Ìý

148,257

Ìý

Selling, general and administrative expenses

Ìý

Ìý

(54,895

)

Ìý

Ìý

(50,570

)

Equity in income of unconsolidated entities

Ìý

Ìý

473

Ìý

Ìý

Ìý

2,592

Ìý

Other income, net

Ìý

Ìý

4,785

Ìý

Ìý

Ìý

15,354

Ìý

Income before income taxes

Ìý

Ìý

106,148

Ìý

Ìý

Ìý

115,633

Ìý

Income tax expense

Ìý

Ìý

22,223

Ìý

Ìý

Ìý

24,842

Ìý

Net income

Ìý

Ìý

83,925

Ìý

Ìý

Ìý

90,791

Ìý

Less: Net income attributable to noncontrolling interests

Ìý

Ìý

8,866

Ìý

Ìý

Ìý

7,490

Ìý

Net income attributable to Green Brick Partners, Inc.

Ìý

$

75,059

Ìý

Ìý

$

83,301

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Net income attributable to Green Brick Partners, Inc. per common share:

Ìý

Ìý

Ìý

Ìý

Basic

Ìý

$

1.67

Ìý

Ìý

$

1.84

Ìý

Diluted

Ìý

$

1.67

Ìý

Ìý

$

1.82

Ìý

Weighted average common shares used in the calculation of net income attributable to Green Brick Partners, Inc. per common share:

Ìý

Ìý

Ìý

Ìý

Basic

Ìý

Ìý

44,440

Ìý

Ìý

Ìý

44,942

Ìý

Diluted

Ìý

Ìý

44,508

Ìý

Ìý

Ìý

45,430

Ìý

GREEN BRICK PARTNERS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data) (Unaudited)

Ìý

Ìý

March 31,

2025

Ìý

December 31,

2024

ASSETS

Cash and cash equivalents

$

103,003

Ìý

Ìý

$

141,543

Restricted cash

Ìý

31,853

Ìý

Ìý

Ìý

18,153

Receivables

Ìý

12,596

Ìý

Ìý

Ìý

13,858

AGÕæÈ˹ٷ½ estate inventory:

Ìý

Ìý

Ìý

Inventory owned

Ìý

1,814,595

Ìý

Ìý

Ìý

1,771,203

Consolidated inventory related to VIE

Ìý

171,930

Ìý

Ìý

Ìý

166,529

Total real estate inventory

Ìý

1,986,525

Ìý

Ìý

Ìý

1,937,732

Investments in unconsolidated entities

Ìý

72,303

Ìý

Ìý

Ìý

60,582

Right-of-use assets - operating leases

Ìý

6,944

Ìý

Ìý

Ìý

7,242

Property and equipment, net

Ìý

5,888

Ìý

Ìý

Ìý

6,551

Earnest money deposits

Ìý

17,045

Ìý

Ìý

Ìý

13,629

Deferred income tax assets, net

Ìý

13,984

Ìý

Ìý

Ìý

13,984

Intangible assets, net

Ìý

261

Ìý

Ìý

Ìý

282

Goodwill

Ìý

680

Ìý

Ìý

Ìý

680

Other assets

Ìý

22,185

Ìý

Ìý

Ìý

35,758

Total assets

$

2,273,267

Ìý

Ìý

$

2,249,994

LIABILITIES AND EQUITY

Liabilities:

Ìý

Ìý

Ìý

Accounts payable

$

77,744

Ìý

Ìý

$

59,746

Accrued expenses

Ìý

103,490

Ìý

Ìý

Ìý

110,068

Customer and builder deposits

Ìý

38,517

Ìý

Ìý

Ìý

37,068

Lease liabilities - operating leases

Ìý

8,029

Ìý

Ìý

Ìý

8,343

Borrowings on lines of credit, net

Ìý

(1,577

)

Ìý

Ìý

22,645

Senior unsecured notes, net

Ìý

274,185

Ìý

Ìý

Ìý

299,090

Notes payable

Ìý

14,871

Ìý

Ìý

Ìý

14,871

Total liabilities

Ìý

515,259

Ìý

Ìý

Ìý

551,831

Commitments and contingencies

Ìý

Ìý

Ìý

Redeemable noncontrolling interest in equity of consolidated subsidiary

Ìý

44,560

Ìý

Ìý

Ìý

44,709

Equity:

Ìý

Ìý

Ìý

Green Brick Partners, Inc. stockholders� equity

Ìý

Ìý

Ìý

Preferred stock, $0.01 par value: 5,000,000 shares authorized; 2,000 issued and outstanding as of March 31, 2025 and December 31, 2024, respectively

Ìý

47,603

Ìý

Ìý

Ìý

47,603

Common stock, $0.01 par value: 100,000,000 shares authorized; 44,593,967 issued and 44,311,146 outstanding as of March 31, 2025 and 44,498,097 issued and outstanding as of December 31, 2024, respectively

Ìý

446

Ìý

Ìý

Ìý

445

Treasury stock, at cost: 282,821 shares as of March 31, 2025 and none as of December 31, 2024

Ìý

(16,919

)

Ìý

Ìý

�

Additional paid-in capital

Ìý

252,728

Ìý

Ìý

Ìý

244,653

Retained earnings

Ìý

1,407,054

Ìý

Ìý

Ìý

1,332,714

Total Green Brick Partners, Inc. stockholders� equity

Ìý

1,690,912

Ìý

Ìý

Ìý

1,625,415

Noncontrolling interests

Ìý

22,536

Ìý

Ìý

Ìý

28,039

Total equity

Ìý

1,713,448

Ìý

Ìý

Ìý

1,653,454

Total liabilities and equity

$

2,273,267

Ìý

Ìý

$

2,249,994

GREEN BRICK PARTNERS, INC.

SUPPLEMENTAL INFORMATION

(Unaudited)

Ìý

Residential Units Revenue and New Homes Delivered

(dollars in thousands)

Ìý

Three Months Ended March 31,

Ìý

Ìý

Ìý

Ìý

Ìý

2025

Ìý

2024

Ìý

Change

Ìý

%

Home closings revenue

Ìý

$

495,317

Ìý

$

443,094

Ìý

$

52,223

Ìý

Ìý

11.8

%

Mechanic’s lien contracts revenue

Ìý

Ìý

�

Ìý

Ìý

190

Ìý

Ìý

(190

)

Ìý

(100.0

)%

Residential units revenue

Ìý

$

495,317

Ìý

$

443,284

Ìý

$

52,033

Ìý

Ìý

11.7

%

New homes delivered

Ìý

Ìý

910

Ìý

Ìý

821

Ìý

Ìý

89

Ìý

Ìý

10.8

%

Average sales price of homes delivered

Ìý

$

544.3

Ìý

$

539.7

Ìý

$

4.6

Ìý

Ìý

0.9

%

Land and Lots Revenue

(dollars in thousands)

Ìý

Three Months Ended March 31,

Ìý

Ìý

Ìý

Ìý

Ìý

2025

Ìý

2024

Ìý

Change

Ìý

%

Lots revenue

Ìý

$

2,304

Ìý

$

4,054

Ìý

$

(1,750

)

Ìý

(43.2

)%

Lots closed

Ìý

Ìý

24

Ìý

Ìý

63

Ìý

Ìý

(39

)

Ìý

(61.9

)%

Average sales price of lots closed

Ìý

$

96.0

Ìý

$

64.3

Ìý

$

31.7

Ìý

Ìý

49.3

%

New Home Orders and Backlog

(dollars in thousands)

Ìý

Three Months Ended March 31,

Ìý

Ìý

Ìý

Ìý

Ìý

2025

Ìý

2024

Ìý

Change

Ìý

%

Net new home orders

Ìý

Ìý

1,106

Ìý

Ìý

Ìý

1,071

Ìý

Ìý

Ìý

35

Ìý

Ìý

3.3

%

Revenue from net new home orders

Ìý

$

593,605

Ìý

Ìý

$

613,384

Ìý

Ìý

$

(19,779

)

Ìý

(3.2

)%

Average selling price of net new home orders

Ìý

$

536.7

Ìý

Ìý

$

572.7

Ìý

Ìý

$

(36.0

)

Ìý

(6.3

)%

Cancellation rate

Ìý

Ìý

6.1

%

Ìý

Ìý

4.1

%

Ìý

Ìý

2.0

%

Ìý

48.8

%

Absorption rate per average active selling community per quarter

Ìý

Ìý

10.6

Ìý

Ìý

Ìý

11.4

Ìý

Ìý

Ìý

(0.8

)

Ìý

(7.0

)%

Average active selling communities

Ìý

Ìý

104

Ìý

Ìý

Ìý

94

Ìý

Ìý

Ìý

10

Ìý

Ìý

10.6

%

Active selling communities at end of period

Ìý

Ìý

103

Ìý

Ìý

Ìý

98

Ìý

Ìý

Ìý

5

Ìý

Ìý

5.1

%

Backlog revenue

Ìý

$

594,171

Ìý

Ìý

$

725,489

Ìý

Ìý

$

(131,318

)

Ìý

(18.1

)%

Backlog units

Ìý

Ìý

864

Ìý

Ìý

Ìý

1,020

Ìý

Ìý

Ìý

(156

)

Ìý

(15.3

)%

Average sales price of backlog

Ìý

$

687.7

Ìý

Ìý

$

711.3

Ìý

Ìý

$

(23.6

)

Ìý

(3.3

)%

GREEN BRICK PARTNERS, INC.

SUPPLEMENTAL INFORMATION

(Unaudited)

Ìý

Ìý

March 31, 2025

Ìý

December 31, 2024

Ìý

Central

Ìý

Southeast

Ìý

Total

Ìý

Central

Ìý

Southeast

Ìý

Total

Lots owned

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Finished lots

3,631

Ìý

Ìý

802

Ìý

Ìý

4,433

Ìý

Ìý

3,932

Ìý

Ìý

790

Ìý

Ìý

4,722

Ìý

Lots in communities under development

24,685

Ìý

Ìý

1,794

Ìý

Ìý

26,479

Ìý

Ìý

22,524

Ìý

Ìý

1,670

Ìý

Ìý

24,194

Ìý

Land held for future development(1)

3,808

Ìý

Ìý

�

Ìý

Ìý

3,808

Ìý

Ìý

3,800

Ìý

Ìý

�

Ìý

Ìý

3,800

Ìý

Total lots owned

32,124

Ìý

Ìý

2,596

Ìý

Ìý

34,720

Ìý

Ìý

30,256

Ìý

Ìý

2,460

Ìý

Ìý

32,716

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Lots controlled

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Lots under third party option contracts

653

Ìý

Ìý

�

Ìý

Ìý

653

Ìý

Ìý

806

Ìý

Ìý

�

Ìý

Ìý

806

Ìý

Land under option for future acquisition and development

2,083

Ìý

Ìý

189

Ìý

Ìý

2,272

Ìý

Ìý

1,091

Ìý

Ìý

349

Ìý

Ìý

1,440

Ìý

Lots under option through unconsolidated development joint ventures

2,614

Ìý

Ìý

266

Ìý

Ìý

2,880

Ìý

Ìý

2,614

Ìý

Ìý

255

Ìý

Ìý

2,869

Ìý

Total lots controlled

5,350

Ìý

Ìý

455

Ìý

Ìý

5,805

Ìý

Ìý

4,511

Ìý

Ìý

604

Ìý

Ìý

5,115

Ìý

Total lots owned and controlled (2)

37,474

Ìý

Ìý

3,051

Ìý

Ìý

40,525

Ìý

Ìý

34,767

Ìý

Ìý

3,064

Ìý

Ìý

37,831

Ìý

Percentage of lots owned

85.7

%

Ìý

85.1

%

Ìý

85.7

%

Ìý

87.0

%

Ìý

80.3

%

Ìý

86.5

%

__________________

(1)

Land held for future development consist of raw land parcels where development activities have been postponed due to market conditions or other factors.

(2)

Total lots excludes lots with homes under construction.

The following table presents additional information on the lots we owned as of March 31, 2025 and December 31, 2024.

Ìý

March 31,

2025

Ìý

December 31,

2024

Total lots owned(1)

34,720

Ìý

Ìý

32,716

Ìý

Add certain lots included in Total Lots Controlled

Ìý

Ìý

Ìý

Land under option for future acquisition and development

2,272

Ìý

Ìý

1,440

Ìý

Lots under option through unconsolidated development joint ventures

2,880

Ìý

Ìý

2,869

Ìý

Total lots self-developed

39,872

Ìý

Ìý

37,025

Ìý

Self-developed lots as a percentage of total lots owned and controlled(1)

98.4

%

Ìý

97.9

%

__________________

(1)

Total lots owned includes finished lot purchases, which were less than 1.1% of total lots self-developed as of December 31, 2024.

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, specifically adjusted homebuilding gross margin, net debt to total capital, and adjusted EPS. 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 adjusted homebuilding gross margin for the three months ended March 31, 2025 and 2024 and reconciles these amounts to homebuilding gross margin, the most directly comparable GAAP measure.

(Unaudited, in thousands):

Ìý

Three Months Ended

March 31,

Ìý

2025

Ìý

2024

Residential units revenue

Ìý

$

495,317

Ìý

Ìý

$

443,284

Ìý

Less: Mechanic’s lien contracts revenue

Ìý

Ìý

�

Ìý

Ìý

Ìý

(190

)

Home closings revenue

Ìý

$

495,317

Ìý

Ìý

$

443,094

Ìý

Homebuilding gross margin

Ìý

$

154,696

Ìý

Ìý

$

147,917

Ìý

Homebuilding gross margin percentage

Ìý

Ìý

31.2

%

Ìý

Ìý

33.4

%

Ìý

Ìý

Ìý

Ìý

Ìý

Homebuilding gross margin

Ìý

Ìý

154,696

Ìý

Ìý

Ìý

147,917

Ìý

Add back: Capitalized interest charged to cost of revenues

Ìý

Ìý

2,233

Ìý

Ìý

Ìý

2,684

Ìý

Adjusted homebuilding gross margin

Ìý

$

156,929

Ìý

Ìý

$

150,601

Ìý

Adjusted homebuilding gross margin percentage

Ìý

Ìý

31.7

%

Ìý

Ìý

34.0

%

Net 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 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 debt to total capitalization ratio as of March 31, 2025.

Ìý

Gross

Ìý

Less: Cash

and cash equivalents

Ìý

Net

Total debt, net of debt issuance costs

$

287,479

Ìý

Ìý

$

(103,003

)

Ìý

$

184,476

Ìý

Total Green Brick Partners, Inc. stockholders� equity

Ìý

1,690,912

Ìý

Ìý

Ìý

�

Ìý

Ìý

Ìý

1,690,912

Ìý

Total capitalization

$

1,978,391

Ìý

Ìý

$

(103,003

)

Ìý

$

1,875,388

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Debt to total capitalization ratio

Ìý

14.5

%

Ìý

Ìý

Ìý

Ìý

Net debt to total capitalization ratio

Ìý

Ìý

Ìý

Ìý

Ìý

9.8

%

Diluted EPS, excluding the impact of Challenger Homes is defined as Diluted EPS less (i) the income earned from our 49% equity interest in Challenger Homes during the first quarter of 2024 and (ii) the gain on sale recognized from the sale of the Company’s 49% interest in Challenger Homes. We believe that this metric provides investors a tool to evaluate the comparable performance of our operations on a like-for-like basis by excluding the impact of the Challenger Homes transaction, which was completed during the first quarter of 2024. The following represents a reconciliation of Diluted EPS, excluding the impact of Challenger Homes for the quarter ended March 31, 2024.

The following table presents the non-GAAP measure of diluted EPS, excluding the impact from the sale of Challenger Homes for the three months ended March 31, 2024 and reconciles these amounts to Diluted EPS, the most directly comparable GAAP measure.

Ìý

Three Months Ended

March 31, 2025

Ìý

Three Months Ended

March 31, 2024

Ìý

Ìý

(Unaudited, in thousands, except per share amounts):

Pretax

Ìý

Net of

Tax

Ìý

Per Share

Ìý

Pretax

Ìý

Net of

Tax

Ìý

Per Share

Ìý

Change

Diluted EPS

$

�

Ìý

$

�

Ìý

$

1.67

Ìý

$

�

Ìý

Ìý

$

�

Ìý

Ìý

$

1.82

Ìý

Ìý

(8.2

)%

Adjustments

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Equity in income of Challenger Homes (an unconsolidated entity)

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

(929

)

Ìý

Ìý

(757

)

Ìý

Ìý

(0.02

)

Ìý

Ìý

Gain on sale of the 49% interest in Challenger Homes

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

(10,718

)

Ìý

Ìý

(8,735

)

Ìý

Ìý

(0.19

)

Ìý

Ìý

Diluted EPS, excluding the impact from the sale of Challenger Homes

Ìý

Ìý

Ìý

Ìý

$

1.67

Ìý

Ìý

Ìý

Ìý

Ìý

$

1.61

Ìý

Ìý

3.7

%

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 .

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,� “intend,� “plan,� “predict,� “seek,� “strategy,� “target,� “will� or other words of similar meaning. Specifically, these statements reflect our beliefs and expectations regarding (i) our self-development strategy; (ii) our relationships with national suppliers; (iii) strategic advantages, including our focus on infill and infill-adjacent locations, and the impact on our future results; (iv) our positioning to capture future demand and succeed in the current environment, including our ability to maintain industry-leading performance and margins; (v) our ability to successfully implement our growth strategy, including our expectations for expansion and growth of our Trophy brand into Austin and Houston; (vi) our strategies to maintain the strength of our balance sheet and financial flexibility, and our positioning in the industry; (vii) the advantages of our lot and land strategies and locations; (viii) our expectations for our investments in land, lots and development, and the impact on our growth and (ix) the demand for home ownership in the markets in which we operate and our ability to capitalize on such demand. 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) changes in macroeconomic conditions, including increased interest rates and inflation that could adversely impact demand for new homes or the ability of potential buyers to qualify; (2) general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; (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) a shortage of labor; (5) an inability to acquire land in our current and new markets at anticipated prices or difficulty in obtaining land-use entitlements; (6) our inability to successfully execute our strategies, including an inability to grow our operations or expand our Trophy brand; (7) our inability to implement new strategic investments; (8) a failure to recruit, retain or develop highly skilled and competent employees; (9) government regulation risks in the industries or markets we operate in; (10) a lack of availability or volatility of mortgage financing for homebuyers; (11) severe weather events or natural disasters; (12) difficulty in obtaining sufficient capital to fund our growth; (13) our ability to meet our debt service obligations; (14) a decline in the value of our inventories and resulting write-downs of the carrying value of our real estate assets, and (15) 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.

Benting Hu

Vice President of Finance

469-573-6755

[email protected]

Source: Green Brick Partners, Inc.

Green Brick Partners Inc

NYSE:GRBK

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2.74B
40.31M
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78.6%
2.99%
Residential Construction
Operative Builders
United States
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