Green Brick Partners Q1 revenue falls 5.9% on higher mortgage rates
Green Brick Partners GRBK | 0.00 |
Overview
U.S. homebuilder's Q1 revenue fell yr/yr but beat analyst expectations
Company repurchased 114,000 shares for $7.2 mln and began Houston sales
Outlook
Company expects to expand Green Brick Mortgage into Atlanta market in latter half of 2026
Company says new home market remains challenging due to higher mortgage rates and consumer confidence
Company says strong liquidity and low leverage provide flexibility to navigate current environment
Result Drivers
MARKET HEADWINDS - Co said higher mortgage rates and challenged consumer confidence weighed on the new home market
INCENTIVE MANAGEMENT - Co attributed maintained sales pace to disciplined approach to managing incentives and pricing
FINANCIAL SERVICES GROWTH - Co said expansion of Green Brick Mortgage contributed to results
Company press release: ID:nBwbgHxHba
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Revenue |
Beat |
$455.99 mln |
$423.51 mln (3 Analysts) |
Q1 EPS |
|
$1.39 |
|
Q1 Net Income |
|
$60.95 mln |
|
Q1 Homebuilding Gross Margin |
|
28.90% |
|
Q1 Gross Profit |
|
$131.72 mln |
|
Q1 Pretax Profit |
|
$84.26 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Green Brick Partners Inc is $70.00, about 0.4% below its April 28 closing price of $70.28
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
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