Adjusted EBITDA Exceeds Guidance
Adjusted EBITDA was $61 million for the quarter, slightly above the high end of the guidance range.
Strong Performance in Select Markets
Price increases were achieved in 31% of communities with better results in Delaware, Maryland, New Jersey, North Carolina, Virginia, and West Virginia.
High ROE and ROI Metrics
Return on equity was 27% over the last 12 months and adjusted EBIT return on investment was 26.1%, among the highest in the industry.
Significant Land Controlled via Options
85% of lots controlled through options, the highest percentage ever, showing a strategic focus on land light strategy.
Successful Debt Reduction
Paid off $27 million of 13.5% notes early, reducing the highest cost debt scheduled to mature in February 2026.