Significant Revenue and Home Sales Growth
Home sales revenue grew by 35% year-over-year, with a 30% increase in new home deliveries and a total of 341 homes sold, representing a 25% increase over the prior year period.
Expansion and Strategic Acquisitions
Successful integration of Rosewood and Creekside homes into the homebuilding platform, with progress in establishing a foothold in Raleigh, North Carolina.
Positive Housing Market Fundamentals
Strong local economies and migration patterns supported by steady community traffic, maintaining a steady cadence of orders.
Strong Leadership and Strategic Initiatives
Appointment of Jamie Pirrello as interim CEO, bringing industry knowledge and experience to drive growth and improve gross margins.
Solid Financial Performance
Net income for the 9 months ended September 30, 2024, was $46.2 million, and revenue increased to $328.9 million for the same period.