Green Brick Partners Inc ( (GRBK) ) has released its Q4 earnings. Here is a breakdown of the information Green Brick Partners Inc presented to its investors.
Green Brick Partners Inc., a diversified homebuilding and land development company, operates primarily in Texas, Georgia, and Florida, engaging in all aspects of the homebuilding process through its various subsidiaries.
Green Brick Partners Inc. has reported record-breaking financial results for the fourth quarter and full year of 2024, showcasing significant growth in home closings revenue and earnings per share. The company achieved a milestone by surpassing $2 billion in home closings revenue for the first time.
Key financial highlights include a 24.2% year-over-year increase in fourth-quarter home closings revenue, reaching $557 million, and a 46.2% rise in diluted earnings per share to $2.31. The company also reported a record full-year homebuilding gross margin of 33.8%, up 290 basis points from the previous year. Additionally, Green Brick’s net new home orders for the fourth quarter increased by 29.3% year-over-year.
Strategically, Green Brick Partners has strengthened its position by increasing its share repurchase authorization to $100 million and expanding its lot ownership by 31.9% year-over-year. The company remains focused on growth, with a 16.5% increase in active selling communities and a 22.2% rise in new home starts for the year.
Looking ahead, Green Brick Partners is optimistic about the housing market, supported by demographic trends and housing shortages. The company is well-positioned for continued growth, with a strong land and lot portfolio and a strategic focus on infill and infill-adjacent submarkets.