Dream Finders Homes Reports Strong Q3 2024 Results

Dream Finders Homes, Inc. ( (DFH) ) has released its Q3 earnings. Here is a breakdown of the information Dream Finders Homes, Inc. presented to its investors.

Dream Finders Homes, Inc. is a homebuilder based in Jacksonville, Florida, specializing in constructing single-family homes across the Southeast, Mid-Atlantic, and Midwest regions. The company is known for its asset-light homebuilding model and also offers mortgage financing and title services through its subsidiaries.

In its latest earnings report, Dream Finders Homes announced revenues of $1 billion for the third quarter of 2024, marking a 10% increase in homebuilding revenues. The company also reported a rise in net new orders by 9% and home closings by 5%. Despite these positive figures, the company faced a decrease in net income and pre-tax income, attributed to increased operational costs and reduced margins.

Key financial highlights include a significant rise in the average sales price of homes to $518,553, a 3% increase from the previous year. The company also expanded its backlog with 3,996 sold homes valued at $2 billion, although the homebuilding gross margin saw a decline to 19.2% from 20.6%. Dream Finders Homes’ acquisition of Jet HomeLoans contributed positively to its financial services revenue, adding $16 million in the third quarter.

Dream Finders Homes remains focused on long-term growth, as evidenced by strategic acquisitions and investments in inventory. The company continues to maintain its guidance of 8,250 home closings for the full year 2024, showcasing confidence in its growth trajectory.

Looking ahead, Dream Finders Homes aims to build on its current momentum by focusing on operational efficiencies and expanding its market presence. The management remains committed to delivering value to shareholders through strategic initiatives and capital allocation strategies.