Earnings ·
Reports Q3 net income of $59M, or $1.35 per diluted share
GRBKGreen Brick Partners, Inc.
Green Brick Partners reported third-quarter net income attributable to the company of $59 million, or $1.35 per diluted share, down from $78 million, or $1.77 per diluted share in the prior-year period. Homebuilding gross margins were 28.0%, and home closing revenue totaled $437 million. The company delivered 978 new homes, up 3% year over year, with a backlog of 629 homes valued at $379 million. Additionally, Green Brick retired $50 million of senior notes and repurchased approximately $17.9 million in common stock during the quarter. The company also announced a quarterly dividend of $0.35938 per depositary share for its Series A Preferred Stock.