NYSE$GRBK
Green Brick Partners Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported record fourth quarter earnings driven by strong demand and efficient construction cycle times.
Green Brick Partners reported a strong fourth quarter in 2023, with record home deliveries and increased diluted EPS. The company's strategic focus on high-growth markets and efficient operations contributed to its success.
- Delivered a record 825 homes, a 13.5% increase year-over-year.
- Homebuilding gross margin was 31.4%, up 520 bps year-over-year.
- Diluted EPS increased 33.9% year-over-year to $1.58 per share.
- Net new home orders increased 60.5% year-over-year.
Headline financials
Revenue & EPS history
Green Brick · Revenue · Quarterly
$450M
Revenue by segment
Green Brick · $419M total across 2 segments · Q3 2023
- Residential Units$416M+4.8%99.3%
- Land and Lots$3.06M-72.7%0.7%
Forward guidance
Green Brick Partners is well-positioned for continued growth and profitability, focusing on strategic markets and efficient operations. The company anticipates strong demand and is expanding into new markets like Houston.
Tailwinds
- Favorable demographic shifts and strong employment in key markets.
- Limited competition in infill and infill-adjacent locations.
- Low leverage and cost of debt enabling retention of profits for growth.
- Strategic advantages in key markets.
- Scalability in the Houston market with the Trophy brand.
Headwinds
- Changes in macroeconomic conditions, including increased interest rates and inflation.
- Shortages, delays, or increased costs of raw materials and labor.
- Inability to acquire land at anticipated prices or difficulty in obtaining land-use entitlements.
- Failure to recruit, retain, or develop highly skilled employees.
- Lack of availability or volatility of mortgage financing for homebuyers.
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 Q4 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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