GRBK
Green Brick Partners, Inc.66.01
-0.07-0.11%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Strong February offsets weather hit
Q&A spotlighted a robust February sales kickoff after January's severe Texas weather shut operations for 7-10 days, signaling spring momentum despite affordability headwinds. Management pinned Q4 margin erosion mainly on incentives compressing across regions and price points, with entry-level rate buydowns steady at 4.99% and higher-end homes needing more design/closing aid. Specs remain hot—even at $600k-$1M—carrying 5 finished units per community (1-1.5 months' supply), bucking peers' build-to-order talk. Land spending rises in 2026 for community ramp-up in 2-3 years. Specs drive demand. Optimism tempers caution on sticky prime-land prices; watch if traffic sustains pricing power.
Key Stats
Market Cap
2.88BP/E (TTM)
8.66Basic EPS (TTM)
7.62Dividend Yield
0%Recent Filings
8-K
Record 2025 deliveries, solid margins
Green Brick Partners reported record 2025 full-year results, delivering 3,943 new homes—up 4.2%—with $2.1B revenue and 30.5% gross margins despite affordability headwinds. Q4 net income fell to $78M ($1.78/share) as deliveries edged up 1.9% to 1,038 but margins slipped to 29.4%. Balance sheet shines: cash at $154.6M, net debt ratio 6.3%. Record orders. Strong liquidity fuels growth.
10-K
FY2025 results
Green Brick delivered 3,943 homes in FY2025 ended December 31, 2025, up 4.2% y/y, driving $2.1B revenue (up 1.0%) despite 3.1% lower ASP to $530K from incentives. Gross margins slipped to 30.5% (down 330 bps) on discounts, yet net new orders rose 3.1% to 3,795 units at 9.3 absorption per community. Backlog shrank 22% to 520 units ($354M). Q4 repurchases hit $22.8M under the $100M plan (now $17M left; $150M new authorized). Debt-to-capital stayed low at 14.7% with $155M cash. Homebuyer financing tightens demand.
8-K
Series A dividend declared
Green Brick Partners declared a quarterly dividend of $0.35938 per Series A Depositary Share (NYSE:GRBK.PRA) for holders of record as of March 2, 2026, payable March 13, 2026, covering December 15, 2025 to March 15, 2026. This matches the 5.75% annual rate on $25.00 liquidation preference per depositary share. Dividend flows as expected.
8-K
Revolver extended, buybacks authorized
8-K
Q3 EPS $1.77, orders record high
Green Brick Partners posted Q3 net income of $78M and diluted EPS of $1.77, with home closings revenue at $499M despite a 4.7% YoY drop. Gross margins held at 31.1% for the tenth straight quarter, while net new orders hit a record 898 units, up 2.4% YoY. Backlog revenue fell 20% to $465.6M. Series A preferred shareholders get $0.35938 quarterly dividend payable December 15.
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