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PLANO, Texas - Green Brick Partners, Inc. (NYSE:GRBK) reported strong fourth quarter results that beat analyst expectations, sending shares up 5.4% in after-hours trading Wednesday.
The homebuilder posted Q4 earnings per share of $2.31, surpassing the analyst estimate of $2.07 by $0.24. Revenue for the quarter came in at $557 million, slightly below the consensus estimate of $562.48 million but up 24.2% YoY.
Green Brick delivered 1,019 homes in Q4, a 23.5% increase from the same period last year. The average sales price of homes delivered was $546,500, up 0.6% YoY.
"We are extremely proud to celebrate our 10th anniversary as a public homebuilder with record quarterly and full-year results while exceeding $2 billion in home closings revenue for the first time," said Jim Brickman, CEO and Co-Founder.
The company’s homebuilding gross margin percentage expanded to 34.3% in Q4, up 290 basis points YoY. Net new home orders increased 29.3% to 878 homes.
For the full year 2024, Green Brick reported diluted EPS of $8.45, up 37.6% YoY, on total revenues of $2.1 billion, an increase of 18.1%.
Looking ahead, the company remains optimistic about the housing market, citing demographic tailwinds and persistent housing shortages. Green Brick ended 2024 with 106 active selling communities, up 16.5% YoY.
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