United Homes Group reports Q4 EPS 1c vs. $ ($1.38) last year

Reports 4Q revenue $134.8M vs, $116.8M last year..Reports Q4 home closings of 414, an increase of 7% year over year compared to 387 home closings in Q4 2023, resulting in revenue, net of sales discounts, of $134.8 million, an increase of 15%. Net new orders of 351, an increase of 19% year over year compared to 294 net new orders in Q4 2023 …Average sale price of production-built homes increased to approximately $324,000 compared to $320,000 in Q4 2023 Keith Feldman, Chief Financial Officer of United Homes Group, stated, “As it relates to the December refinancing transaction, it’s important to note that predominantly all the reported loss on extinguishment of debt was non-cash in nature due to being settled in equity, while the benefits included reducing balance sheet and cash flow leverage, converting the entire debt capital structure to floating rate and lowering cash interest expense by approximately $4 million per year based on current rates. In addition, the transaction significantly reduced potential future shareholder dilution by terminating the conversion feature and resulted in a future tax benefit that increased book value.” Adjusted EBITDA during the fourth quarter 2024 was $7.7M compared to $10M during the fourth quarter 2023.