Gold bars to be exempt from tariffs, White House clarifies
COLUMBIA, S.C. - United Homes Group, Inc. (NASDAQ: UHG), a public residential builder with a market capitalization of $110 million, announced leadership changes and the exploration of strategic alternatives to enhance shareholder value. John G. Micenko, Jr. has been appointed as the new CEO, replacing James M. Pirrello, who will continue on the board of directors. Concurrently, Jeremy Pyle has been promoted to co-Chief Operating Officer. According to InvestingPro data, the company has maintained profitability over the last twelve months despite challenging market conditions.
The company’s board has formed a special committee of independent directors to review potential strategies, including a company sale, asset sales, and refinancing options. There is no set deadline for this strategic review, and outcomes are uncertain. InvestingPro analysis suggests the stock is currently undervalued, with a strong financial health score and a notably low P/E ratio of 2.27.
Micenko, with over 20 years of experience in residential real estate and mortgage finance, previously held a managing director role at BTIG LLC and has been instrumental in United Homes Group’s transition to a public company. Pyle, with a long tenure at the company, will focus on leading homebuilding and construction operations.
Robert Dozier, Vice Chairman of the board, acknowledged Micenko’s qualifications and contributions to the company’s success. Michael Nieri, Executive Chairman and company founder, praised Pirrello’s leadership during challenging times for the homebuilding industry, noting his operational initiatives have already yielded positive results.
The special committee has engaged Vestra Advisors as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal advisors for the strategic review process.
United Homes Group is headquartered near Columbia, SC, and operates in southeastern markets, focusing on a range of single-family homes. The company employs a land-light strategy, securing lot options to control its supply of building lots.
This announcement follows a period of economic challenges in the homebuilding sector, with United Homes Group seeking to optimize its operations and market position. The information is based on a press release statement.
In other recent news, United Homes Group reported a decline in revenue and home closings for the first quarter of 2025. Revenue fell by 13.7% to $87 million compared to the same period last year, while net income stood at $18.2 million. The company noted a decrease in home closings from 311 to 252, though the average sales price of homes increased by 2.9% to $345,000. Despite these declines, United Homes Group’s gross margin improved slightly to 16.2%. The company remains optimistic about its long-term prospects, with plans to open 10 new communities in the second quarter and 18 in the third. Additionally, United Homes Group has projected earnings per share (EPS) of $1.97 for fiscal year 2025 and $2.03 for 2026, alongside revenue forecasts of $498.49 million and $515.94 million, respectively. The company’s strategic initiatives, including a focus on presold homes and product refreshes, aim to bolster future margins and growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.