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Investing.com - Irish homebuilder Glenveagh Properties plc (ISE:GLV) reiterated its full-year 2025 guidance on Thursday and expanded its share buyback program as it reported strong year-to-date trading at its annual general meeting on Tuesday.
The company maintained its earnings per share (EPS) forecast of 19.5 cents for fiscal year 2025. Glenveagh said it expects to deliver 1,500 units in its Homebuilding segment and achieve approximately €400 million in revenue from its Partnerships segment this year.
Glenveagh reported a closed and forward order book of €1.23 billion across both segments, up from €1.09 billion in March 2025. Over 1,100 units are either sold, signed or reserved for 2025, reflecting strong demand, the company said.
"We are pleased with our strong start to the year, which aligns with expectations and underscores both the effectiveness of our strategy and our execution," said CEO Stephen Garvey.
The company expanded its share buyback program from €65 million to €85 million, citing strong first-half performance expectations and improved cash flow visibility. Approximately €60 million has been returned to shareholders as of May 23.
Glenveagh said it has made progress on non-core land sales, with over €50 million at complete, contracted or sale agreed stage. The company expects to complete over €100 million in non-core land sales across 2025 and 2026.
The homebuilder secured planning permission for more than 1,355 units year-to-date, with over 90% of anticipated 2026 unit deliveries now fully planned.
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