Green Brick Partners(GRBK)

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Green Brick Partners(GRBK) - 2021 Q4 - Earnings Call Transcript
2022-03-02 21:26
Financial Data and Key Metrics Changes - In Q4 2021, total revenues reached a record $452 million, an increase of 78% from Q4 2020, with residential units revenues increasing by 70% year-over-year [9][11] - The company delivered 823 homes in Q4 2021, representing a growth of 41% over Q4 2020 [9] - Full year 2021 total revenues were $1.4 billion, a 44% increase from 2020, with diluted EPS of $3.72, growing 66% over 2020 [14][16] - Gross margin for Q4 2021 was 26.2%, up 110 basis points from Q4 2020, while the full year gross margin was 26.4%, up 220 basis points from 2020 [10][15] Business Line Data and Key Metrics Changes - The company’s focus on spec homes led to an increase in spec units under construction from 28% to 39% by the end of 2021 [19] - The average sales price (ASP) for Q4 was $509,000, up 21.3% year-over-year, while the full year ASP was $461,000, up 10.1% [21] Market Data and Key Metrics Changes - The company is expanding into the Austin market, purchasing 383 acres for a new community, Trinity Ranch, expected to start construction in early 2023 [30] - Resale inventory levels are at all-time lows, with Austin having only 0.5 months of supply, contributing to strong demand for new homes [35] Company Strategy and Development Direction - The company plans to invest $285 million in land development to deliver over 4,700 finished home sites across 43 communities in 2022 [26] - The strategy includes a disciplined approach to capital allocation, focusing on lot growth and expanding into new markets [25] Management's Comments on Operating Environment and Future Outlook - Management believes that the current demand for homes is strong, despite rising interest rates, and anticipates continued price increases due to limited resale inventory [36][58] - The company expects double-digit growth in ASP and community count for 2022, with a focus on maintaining gross margins [46][48] Other Important Information - The company was named to Forbes' 2022 America's Best Small Companies list and Fortune's 2021 fastest-growing companies list [11][17] - The company completed a $50 million offering of Series A preferred shares and a $100 million note purchase agreement [12] Q&A Session Summary Question: Guidance for 2022 closings and ASP - Management expects double-digit growth in ASP and community count, with some lumpiness due to product mix [46][48] Question: Sustainability of gross margins - Management does not anticipate a reduction in margins and believes there is potential for improvement [50] Question: Impact of rising interest rates on demand - No increase in incentives has been observed, and demand remains robust despite rising rates [54][56] Question: Community count and absorption rates - Community count is expected to increase in the second half of 2022, with higher absorption rates for Trophy communities [87][88] Question: Cancel rates in Q4 - The increase in cancel rates was a one-quarter aberration, with rates returning to lower levels in early 2022 [76][78] Question: Land sales and margins - Recent land sales had low margins due to an exchange with another builder, but overall land sales are expected to improve [110] Question: Tax rate for 2022 - The tax rate is expected to be closer to 24% for 2022 due to changes in state taxes [106]
Green Brick Partners (GRBK) Investor Presentation
2021-11-23 18:35
INVESTOR | FALL 2021 GREEN BRICK PARTNERS F O R WA R D - L O O K I N G S T A T E M E N T S INTRODUCTION This presentation and our earnings call contain "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words "anticipate," "believe," "consider," "estimat ...
Green Brick Partners(GRBK) - 2021 Q3 - Earnings Call Transcript
2021-11-03 22:48
Green Brick Partners, Inc. (NYSE:GRBK) Q3 2021 Earnings Conference Call November 3, 2021 ET Company Participants Jim Brickman - Chief Executive Officer Jed Dolson - Chief Operating Officer Rick Costello - Chief Financial Officer Conference Call Participants Carl Reichardt - BTIG Alex Rygiel - B. Riley David Papson - CDT Capital Bill Dezellem - Tieton Capital Alex Barron - Housing Research Center Operator Good afternoon, everyone and welcome to Green Brick’s Partners Earnings Call for the Third Quarter ended ...
Green Brick Partners(GRBK) - 2021 Q3 - Quarterly Report
2021-11-01 16:00
TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________ FORM 10-Q ___________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, par value $0.01 per share | GRBK | The Nasdaq ...
Green Brick Partners(GRBK) - 2021 Q2 - Earnings Call Transcript
2021-08-04 19:57
Green Brick Partners, Inc. (NYSE:GRBK) Q2 2021 Earnings Conference Call August 4, 2021 12:00 PM ET Company Participants Jim Brickman - Chief Executive Officer Jed Dolson - Chief Operating Officer Rick Costello - Chief Financial Officer Conference Call Participants Maggie Wellborn - JPMorgan Alex Rygiel - B. Riley Bill Dezellem - Tieton Capital Management Operator Good afternoon, everyone and welcome to Green Brick’s Partners Earnings Call for the Second Quarter ended June 30, 2021. Following today’s remarks ...
Green Brick Partners(GRBK) - 2021 Q2 - Earnings Call Presentation
2021-08-04 14:42
SECOND QUARTER | 2021 GREEN BRICK PARTNERS FORWARD - LOOKING STATEMENTS INTRODUCTION This presentation and our earnings call contain "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words "anticipate," "believe," "consider," "estimate," "expect," "fore ...
Green Brick Partners(GRBK) - 2021 Q1 - Earnings Call Presentation
2021-05-06 15:06
FIRST QUARTER|2021 INVESTOR CALL PRESENTATION GREEN BRICK PARTNERS | Q1 2021 INVESTOR CALL PRESENTATION FORWARD-LOOKING STATEMENTS This presentation and our earnings call contain "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words "anticipate," "bel ...
Green Brick Partners(GRBK) - 2021 Q1 - Earnings Call Transcript
2021-05-05 21:29
Green Brick Partners, Inc. (NYSE:GRBK) Q1 2021 Earnings Conference Call May 5, 2021 12:00 PM ET Company Participants Rick Costello - CFO Jim Brickman - CEO Jed Dolson - COO Conference Call Participants Maggie Wellborn - JPMorgan Carl Reichardt - BTIG Alex Rygiel - B. Riley Alex Barrón - Housing Research Center Tom Bishop - BI Research Bill Dezellem - Tieton Capital Operator Yes, you may begin. Rick Costello Thank you. Good to do the operator's part. We apologize for the delay in commencement. The operator h ...
Green Brick Partners(GRBK) - 2021 Q1 - Quarterly Report
2021-05-03 16:00
___________________ FORM 10-Q ___________________ TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33530 Green Brick Partners, Inc. (Exact name of registrant as specified in its ...
Green Brick Partners(GRBK) - 2020 Q4 - Earnings Call Transcript
2021-03-09 21:14
Green Brick Partners, Inc. (NYSE:GRBK) Q4 2020 Earnings Conference Call March 9, 2021 12:00 PM ET Company Participants Jim Brickman – Chief Executive Officer Rick Costello – Chief Financial Officer Jed Dolson – Chief Operating Officer Conference Call Participants Maggie Wellborn – JPMorgan Carl Reichardt – BTIG Alex Rygiel – B. Riley Alex Barron – Housing Research Centers Bill Dezellem – Tieton capital Art Winston – Pilot Advisors Operator Good afternoon everyone, and welcome to Green Brick Partners Earning ...