Group 1 - Homebuilders have faced challenges due to a weak real estate market and potential tariffs impacting profits [1] - Recent results from Dream Finders Homes (DFH) and Green Brick Partners (GRBK) indicate better-than-expected performance [1]

o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Table Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2024 OR For the transition period from _________to_________. Commission file number 001-39916 ___________________________________________ DREAM FINDERS HOMES, INC. (Exact name of registra ...

Core Insights - Dream Finders Homes Inc. (DFH) reported quarterly earnings of $1.29 per share, exceeding the Zacks Consensus Estimate of $1.13 per share, and up from $1 per share a year ago, representing an earnings surprise of 14.16% [1] - The company achieved revenues of $1.56 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 9.31%, compared to $1.14 billion in the same quarter last year [2] - The stock has underperformed the market, losing about 9.8% since the beginning of the year, while the S&P 500 gained 1.7% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.48 on revenues of $878.4 million, and for the current fiscal year, it is $3.11 on revenues of $4.53 billion [7] - The estimate revisions trend for Dream Finders Homes is currently unfavorable, resulting in a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Building Products - Home Builders industry is currently in the bottom 4% of over 250 Zacks industries, suggesting a challenging environment for stocks in this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5]

Exhibit 99.1 Management Commentary Patrick Zalupski, Dream Finders Homes Chairman and CEO, said, "In 2024, we were pleased to achieve another year of growth. We ended on a high note — our fourth quarter was by far the best quarter of the year, and, arguably, the best in Company history. The team worked hard to produce outstanding results and to position us for another year of growth in 2025. Highlighting fourth quarter key metrics: we closed 3,008 homes, up 40% quarter over quarter, also a record number of ...

Company Performance - Dream Finders Homes has experienced a 10% year-over-year increase in homebuilding revenue, with strong margins and a 9% rise in net new orders [2] - The company has a backlog of approximately $2 billion worth of sold homes, indicating robust demand despite market challenges [2] Market Conditions - The homebuilding industry is facing uncertainty due to high mortgage rates, which are around 7%, leading to decreased buyer activity [5] - Sales expectations among homebuilders are at their lowest since late 2023, as reported by the National Association of Home Builders' Housing Market Index [5] - Tariffs on imported materials, such as lumber and steel, could further impact profit margins for homebuilders [6][7] Growth Strategy - Dream Finders has grown from 27 homes in 2009 to an estimated 8,250 homes in 2024, focusing on fast-growing markets in the U.S. [8] - The company employs a land-light approach, using purchase option contracts to control buildable lots, which provides financial flexibility [9][10] - Recent expansion into the Atlanta housing market through acquisition demonstrates the company's aggressive growth strategy [11] Market Position and Potential - Dream Finders specializes in entry-level and "first move-up" homes, positioning itself well to benefit from the ongoing housing shortage in the U.S. [11] - The company has more debt relative to its capitalization compared to other homebuilders, indicating higher risk [12] - For Dream Finders to achieve a market cap of over $20 billion, it would need to continue expanding and managing capital effectively [13][14]

Company Overview - Dream Finders Homes Inc. (DFH) closed at $21.98, reflecting a -0.18% change from the previous day, underperforming the S&P 500 which gained 0.24% [1] - The stock has decreased by 9.12% over the past month, compared to a 4.2% loss in the Construction sector and a 2.37% gain in the S&P 500 [1] Financial Performance - The upcoming earnings per share (EPS) for Dream Finders Homes Inc. is projected at $1.13, indicating a 13% increase from the same quarter last year [2] - Quarterly revenue is expected to reach $1.43 billion, representing a 25.47% increase from the previous year [2] Analyst Projections - Recent shifts in analyst projections for Dream Finders Homes Inc. should be monitored, as positive revisions indicate optimism regarding the company's business and profitability [3] - Over the past month, there has been a 4.75% decline in the Zacks Consensus EPS estimate, leading to a current Zacks Rank of 5 (Strong Sell) for the company [5] Valuation Metrics - Dream Finders Homes Inc. has a Forward P/E ratio of 7.09, which is lower than the industry average Forward P/E of 8.27, suggesting a valuation discount [6] - The company has a PEG ratio of 1.28, compared to the Building Products - Home Builders industry average PEG ratio of 0.95 [7] Industry Context - The Building Products - Home Builders industry is part of the Construction sector and currently holds a Zacks Industry Rank of 245, placing it in the bottom 3% of over 250 industries [8] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

Group 1 - Dream Finders Homes Inc. (DFH) closed at $22.60, reflecting a +1.12% change from the previous day, outperforming the S&P 500's gain of 0.39% [1] - The stock has decreased by 1.28% over the past month, underperforming the Construction sector's loss of 0.7% and the S&P 500's gain of 1.7% [1] Group 2 - The upcoming earnings disclosure for Dream Finders Homes Inc. is anticipated, with projected earnings per share (EPS) of $1.13, indicating a 13% increase year-over-year [2] - Revenue is expected to reach $1.43 billion, reflecting a 25.47% rise from the same quarter last year [2] Group 3 - Recent changes to analyst estimates for Dream Finders Homes Inc. are important, as positive revisions indicate analyst optimism regarding the company's business and profitability [3] - The Zacks Rank system, which assesses estimate changes, currently ranks Dream Finders Homes Inc. as 5 (Strong Sell), following a 4.75% decline in the Zacks Consensus EPS estimate over the past month [4][5] Group 4 - The Forward P/E ratio for Dream Finders Homes Inc. is 7.2, which is lower than the industry average Forward P/E of 8.33, indicating a valuation discount [6] - The company has a PEG ratio of 1.3, compared to the Building Products - Home Builders industry's average PEG ratio of 0.97 [7] Group 5 - The Building Products - Home Builders industry, part of the Construction sector, has a Zacks Industry Rank of 246, placing it in the bottom 2% of over 250 industries [8]

Group 1 - The homebuilding industry is viewed positively, with recent investments made in a specific company, Hovnanian [1] - Crude Value Insights provides an investment service focused on oil and natural gas, emphasizing cash flow and growth potential [1] Group 2 - Subscribers have access to a stock model account with over 50 stocks, detailed cash flow analyses of exploration and production firms, and live discussions about the sector [2] - A promotional offer is available for a two-week free trial to engage with oil and gas investment opportunities [3]

Core Insights - Dream Finders Homes, Inc. (DFH) has acquired Liberty Communities, LLC's core homebuilding operations and assets, enhancing its presence in the Atlanta and Greenville markets [1][3] - The acquisition includes Liberty's pre-engineered panel and truss, and building component import businesses, which are expected to provide cost efficiencies and support growth [1][3][5] Acquisition Details - The purchase was funded through available cash and borrowings from DFH's existing senior unsecured revolving credit facility, and DFH settled Liberty's vertical lines of credit at closing [2] - This strategic acquisition positions DFH to become a leading player in the Atlanta market, which is the sixth largest homebuilding market in the U.S. with over 27,000 estimated single-family permits in 2024 [4] Market Position and Growth Strategy - DFH has strategically leveraged acquisitions to enter high-growth markets such as Texas, Florida, and the Carolinas, resulting in substantial revenue growth from $744 million in 2019 to $1,924 million in 2021 [6] - The acquisition of Jet HomeLoans in July 2024 marked DFH's sixth acquisition in five years, contributing $16 million in revenues and $7 million in pre-tax profit during Q3 2024 [7] Stock Performance - DFH's shares have declined by 22.9% over the past three months, compared to a 15.9% decline in the Zacks Building Products - Home Builders industry [10] - Despite facing risks from fluctuating mortgage rates and macroeconomic challenges, DFH's focus on high-demand markets and entry-level housing positions it well for future growth [10]

Group 1 - Dream Finders Homes Inc. (DFH) closed at $24.13, with a slight increase of +0.08% from the previous day, underperforming the S&P 500's daily gain of 1% [1] - Over the past month, DFH shares have increased by 1.73%, outperforming the Construction sector's decline of 3.14% and the S&P 500's decline of 2.14% [1] Group 2 - The upcoming earnings disclosure for DFH is anticipated, with projected EPS of $1.15, reflecting a 15% increase year-over-year, and revenue expected to be $1.43 billion, indicating a 25.47% increase year-over-year [2] - Recent changes to analyst estimates for DFH are being monitored, as positive revisions typically indicate a favorable business outlook [3] Group 3 - The Zacks Rank system, which assesses changes in estimates, currently ranks DFH at 4 (Sell), with the consensus EPS estimate remaining unchanged over the last 30 days [5] - DFH is trading at a Forward P/E ratio of 7.4, which is below the industry average of 8.31, indicating a discount compared to its peers [6] Group 4 - DFH has a PEG ratio of 0.78, which is lower than the industry average PEG ratio of 0.81, suggesting a favorable valuation in terms of anticipated earnings growth [7] - The Building Products - Home Builders industry, which includes DFH, holds a Zacks Industry Rank of 204, placing it in the bottom 19% of over 250 industries [8]