Green Brick reports Q3 EPS $1.77, two estimates $1.48

Reports Q3 revenue $499.1M, two estimates $456.6M. “Our third quarter results demonstrated the resilience of our differentiated business model amid a challenging market environment,” said Jim Brickman, CEO and co-founder. “For the tenth consecutive quarter, our gross margins remained above 30%, continuing to lead the public homebuilding industry. In these conditions, we were particularly pleased to maintain sales velocity, with net new orders growing 2.4% year-over-year to 898 units, a record for any third quarter in Company history. Our sales cancellation rate declined 1.8% year-over-year and 3.2% sequentially to 6.7%, among the lowest among our public company peers. Our monthly sales pace increased slightly year-over-year to just under 3.0 sales per community. This performance underscores the strength of our infill-focused land self-development strategy, which we believe continues to deliver meaningful competitive advantages. We remain excited about the future and believe we are well positioned for continued growth. As part of the next stage of our expansion, I am thrilled that we broke ground on our first master-planned community in the Houston market, and we anticipate being open for sales there in time for the spring selling season.”