NYSE$GRBK
Green Brick Partners Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Green Brick reported strong results in Q2 2023, marked by increased new home orders and solid home closings revenue.
Green Brick Partners reported a strong second quarter in 2023, with new home orders up 50.8% and residential units revenue of $454.4 million. The homebuilding gross margin increased to 31.3%, and diluted EPS reached $1.63. Net orders increased 51% year-over-year to 822 homes.
- New home orders increased by 50.8% for the quarter.
- Residential units revenue reached $454.4 million, the second highest in company history.
- Homebuilding gross margin improved to 31.3%, up 370 bps sequentially.
- Diluted EPS was $1.63, the second highest in company history.
Headline financials
Revenue & EPS history
Green Brick · Revenue · Quarterly
$456M
Revenue by segment
Green Brick · $456M total across 2 segments · Q2 2023
- Residential Units$454M-11.3%99.6%
- Land and Lots$1.84M-85.4%0.4%
Forward guidance
The press release contains forward-looking statements regarding the company's position to adapt and succeed, expectations regarding market trends, ability to mitigate inventory buildup, ability to increase market share, growth strategies, capital resources, lot and land strategies, financial position, and expectations regarding returns on capital.
Tailwinds
- Company's position to adapt and succeed in a rapidly changing environment
- Expectations regarding trends in the markets, such as demand for single-family homes and levels of resale inventory
- Ability to mitigate inventory buildup and manage the pace of sales and starts
- Ability to increase market share
- Capital resources and flexibility to capitalize on market opportunities
Headwinds
- Changes in macroeconomic conditions, including increasing interest rates and inflation
- General economic conditions, seasonality, cyclicality, and competition in the homebuilding industry
- Shortages, delays, or increased costs of raw materials and increased demand for materials, or increases in other operating costs
- A shortage of qualified labor
- Inability to acquire land in current and new markets at anticipated prices or difficulty in obtaining land-use entitlements
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.7%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+3.9%
Avg return
30 days after
54%
34 / 63 earnings
Positive
+47.8%
Q3 2010
Best reaction
-26.5%
Q1 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +4.0% | -3.5% | -16.8% | |
| Q3 2025 | +2.8% | -1.6% | +5.4% | |
| Q1 2025 | +3.1% | +1.9% | +0.2% | |
| Q4 2024 | +5.8% | +2.4% | -0.2% | |
| Q3 2024 | -8.6% | -7.1% | -5.3% | |
| Q2 2024 | -2.5% | -7.4% | +5.4% | |
| Q1 2024 | +1.7% | +4.2% | +0.9% | |
| Q4 2023 | -4.3% | -9.4% | +5.5% | |
| Q3 2023 | +8.4% | +17.3% | +24.0% | |
| Q2 2023 | -9.2% | -6.8% | -10.8% | |
| Q1 2023 | +24.6% | +36.3% | +39.2% | |
| Q4 2022 | +3.7% | +9.7% | +13.3% | |
| Q3 2022 | -11.3% | -14.0% | +4.0% | |
| Q2 2022 | +13.7% | +8.2% | -9.0% | |
| Q1 2022 | +12.0% | +6.7% | +20.5% | |
| Q4 2021 | +3.1% | -1.8% | -14.8% | |
| Q3 2021 | -6.5% | -2.6% | +2.4% | |
| Q2 2021 | -3.9% | -0.9% | -1.0% | |
| Q1 2021 | -11.3% | -6.4% | -17.0% | |
| Q4 2020 | +0.3% | +8.0% | +25.6% | |
| Q3 2020 | +3.0% | +13.7% | +29.7% | |
| Q2 2020 | +6.3% | +3.2% | +5.2% | |
| Q1 2020 | +2.1% | +3.8% | +26.3% | |
| Q4 2019 | -2.3% | -9.6% | -39.8% | |
| Q3 2019 | +4.1% | +13.5% | +16.6% | |
| Q2 2019 | +5.5% | +4.5% | +1.7% | |
| Q1 2019 | +1.6% | +2.6% | -2.6% | |
| Q4 2018 | -3.1% | -2.8% | +1.4% | |
| Q3 2018 | -2.0% | -7.2% | -15.7% | |
| Q2 2018 | +5.9% | +11.2% | +7.4% | |
| Q1 2018 | +2.4% | +5.7% | +14.4% | |
| Q4 2017 | -0.9% | -3.8% | +0.9% | |
| Q3 2017 | -0.5% | +2.8% | +1.8% | |
| Q2 2017 | -6.7% | -11.1% | -18.2% | |
| Q1 2017 | +0.5% | +6.4% | +4.7% | |
| Q4 2016 | +1.6% | +4.9% | +9.9% | |
| Q3 2016 | +4.5% | +10.3% | +25.2% | |
| Q2 2016 | +3.9% | +3.3% | +8.8% | |
| Q1 2016 | -1.1% | — | — | |
| Q4 2015 | +16.2% | — | — | |
| Q3 2015 | -4.2% | — | — | |
| Q2 2015 | +6.2% | — | — | |
| Q1 2015 | +0.5% | — | — | |
| Q4 2014 | +5.0% | — | — | |
| Q3 2014 | +2.8% | — | — | |
| Q2 2014 | +4.3% | — | — | |
| Q1 2014 | -14.3% | — | — | |
| Q4 2013 | -10.8% | — | — | |
| Q3 2013 | +6.2% | — | — | |
| Q2 2013 | -12.0% | — | — | |
| Q1 2013 | -2.7% | — | — | |
| Q4 2012 | -1.4% | — | — | |
| Q3 2012 | -12.3% | — | — | |
| Q2 2012 | -8.4% | — | — | |
| Q1 2012 | -26.5% | — | — | |
| Q1 2011 | -26.5% | — | — | |
| Q4 2011 | +6.9% | — | — | |
| Q3 2011 | +47.8% | — | — | |
| Q3 2010 | +47.8% | — | — | |
| Q2 2011 | -5.3% | — | — | |
| Q4 2010 | -6.0% | — | — | |
| Q2 2010 | -5.9% | — | — | |
| Q1 2010 | -15.4% | — | — |
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