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Green Brick Partners (GRBK)
NYSE:GRBK
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Earnings Data
Report Date
Mar 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$2.02Last Year’s EPS
$1.58Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -24.27%
|Next Earnings Date:Mar 10, 2025
Earnings Call Sentiment|Positive
The earnings call presented numerous positive aspects, including record performance metrics, strong revenue growth, and effective land acquisition strategies. However, challenges such as declining gross margins, ASP, and increased incentives were noted. Overall, the positive elements and strategic positioning for future growth outweighed the lowlights.Company Guidance
In the Green Brick Partners Q3 2024 earnings call, the company provided several key metrics and guidance for the future. The company achieved record third-quarter results with home closings revenue increasing by 26% year-over-year to $523 million and net income growing by 23.5% to $89 million. The homebuilding gross margin for the year-to-date was 33.6%, up 290 basis points, maintaining a strong position among peers. Green Brick's net debt to total capital ratio was low at 12.5%, and the total debt to total capital ratio was 16.4% with a weighted average interest rate of 3.4%. The company continued to focus on its unique land strategy, acquiring and self-developing lots, which is expected to keep lot costs flat compared to 2023. Green Brick's year-to-date annualized return on equity was 27%, and return on assets was 18%. The company's community count increased by 23%, with significant land investments expected to propel future growth. They expect the average selling price (ASP) for the fourth quarter to range between $540,000 and $560,000, highlighting a commitment to maintaining strong financial performance amidst market challenges.Record Third Quarter Performance
Green Brick completed its best third quarter in company history with 956 new home closings, home closings revenue grew 26% year-over-year to $523 million.
Significant Revenue Growth
Expected to surpass $2 billion in revenue for fiscal 2024 with a compounded annual growth rate in pretax income of 34% from fiscal year 2015 to the last 12 months ending September 30, 2024.
High Return on Equity and Assets
Year-to-date annualized return on equity was 27% and return on assets was 18%, with averages since 2022 of 27.8% and 17.5%, respectively.
Strong Balance Sheet
Net debt to total capital ratio was only 12.5%, and total debt to total capital ratio was 16.4% with a weighted average interest rate of 3.4%.
Growing Community Count
Ending community count increased by 23% with a total of 106 communities, including 38 for the Trophy brand.
Land Acquisition Strategy
Added over 12,700 new lots on a gross basis with a total of 37,000 lots owned and controlled, a 41% increase year-over-year.
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GRBK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GRBK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $76.15 | $69.01 | -9.38% |
| Jul 31, 2024 | $73.15 | $72.88 | -0.37% |
| May 01, 2024 | $55.05 | $55.03 | -0.04% |
| Feb 29, 2024 | $58.50 | $54.61 | -6.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Green Brick Partners (GRBK) report earnings?
Green Brick Partners (GRBK) is schdueled to report earning on Mar 10, 2025, TBA Not Confirmed.
What is Green Brick Partners (GRBK) earnings time?
Green Brick Partners (GRBK) earnings time is at Mar 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GRBK EPS forecast?
GRBK EPS forecast for the fiscal quarter 2024 (Q4) is $2.02.
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