Workflow
Green Brick Partners(GRBK)
icon
Search documents
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
Financial Data and Key Metrics Changes - Net income attributable to Green Brick over the last 12 months reached $123.7 million, a 100% increase over the prior 12-month period [9] - First quarter net orders of 1,082 homes and ending backlog of $996 million, both represent all-time records for the company, up 28% and 45% over Q4 2020 record levels [10] - Q1 2021 diluted EPS of $0.51, an increase of 65% over Q1 2020, with annualized net income return on average book equity growing from 11.9% in Q1 2020 to 15.9% during Q1 2021 [35] Business Line Data and Key Metrics Changes - The company started a record 2,043 homes in the last six months and ended the quarter with 2,303 homes under construction, a 62% increase from a year ago [10] - Homebuilding gross margin for Q1 2021 was up 230 basis points over Q1 2020, with adjusted homebuilding gross margin similarly up 200 basis points quarter-over-quarter [33] - The average FICO score for Q1 2021 home closings was 754, with 88% of fundings exceeding a FICO score of 700 [25] Market Data and Key Metrics Changes - Significant population growth in Texas, Colorado, Florida, and Georgia, with Texas leading the nation with an increase of just under 4 million people this decade [14] - Dallas-Fort Worth and Atlanta had the largest 12-month decline in active listings as of April 30, 2021, with listings down 70% and 63% respectively, indicating strong demand [17] - The imbalance between housing demand and supply in core markets is expected to persist through 2022, providing continued pricing power [18] Company Strategy and Development Direction - The company operates under a simpler owner structure, with more than two-thirds of top-line revenues generated by wholly owned builders [13] - Focus on expanding entry-level segment through growth in Trophy Signature and CB JENI brands, with a strategic emphasis on larger communities [12] - Plans to expand into Denver through a partnership with Challenger Homes, leveraging existing relationships and local expertise [58] Management's Comments on Operating Environment and Future Outlook - Management expects revenues, margins, and profitability to improve significantly beginning next quarter, driven by record sales order growth [40] - The company is limiting for-sale inventory to units that have been completed framing to reduce risk and capture more price increases [41] - Supply chain issues are not back to normal, with cycle times extending about a month, but management is adapting to manage these challenges [72] Other Important Information - The company acquired approximately 5,600 home sites during the quarter, expanding total lots owned and controlled by 118% over the past 12 months [11] - Interest coverage of 12.7 for Q1 2021 represents a 49% growth over Q1 2020, indicating strong cash flow generation [34] - The company will hold its inaugural virtual investor day on August 6, 2021, to provide insights into growth plans and operating strategy [42] Q&A Session Summary Question: How to think about ASP for the year? - Management noted that ASP may increase by $30,000 to $40,000 from the end of last year due to significant price increases [46][47] Question: What is the outlook for community count? - Management indicated that they do not expect much growth in community count as they focus on larger, higher absorption communities [48] Question: How will cash flow be reinvested? - The company plans to reinvest substantial cash flow into land and development, potentially approaching $500 million to $600 million [56] Question: How has traffic and orders looked in April and early May? - Traffic has been strong, but the company is limiting sales to avoid outpacing production [61] Question: Will new order activity in Q2 be down from Q1? - Management confirmed that new order activity in Q2 could be down sequentially from Q1 due to intentional pacing [65] Question: What is the expected tax rate for the remainder of the year? - The tax rate experienced in Q1 is expected to be representative of what should be seen for the remainder of the year [77] Question: What is the outlook for sequential improvement in earnings? - Management is hopeful for larger sequential improvement in Q3 compared to Q2, contingent on input costs [106]
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 ...
Green Brick Partners(GRBK) - 2020 Q3 - Earnings Call Transcript
2020-10-30 22:55
Green Brick Partners, Inc. (NYSE:GRBK) Q3 2020 Earnings Conference Call October 30, 2020 12:00 PM ET Company Participants James Brickman - Co-Founder and Chief Executive Officer Jed Dolson - Executive Vice President and Chief Operating Officer Richard Costello - Chief Financial Officer Conference Call Participants Margaret Wellborn - JPMorgan Chase & Co. Ryan Gilbert - BTIG, LLC Aaron Hecht - JMP Securities, LLC Alex Rygiel - B. Riley FBR, Inc. Alex Barron - Housing Research Center, LLC William Dezellem - T ...
Green Brick Partners(GRBK) - 2020 Q3 - Earnings Call Presentation
2020-10-30 20:18
Trophy Signature Homes Ridgeview Crossing | Allen, Texas GREEN BRICK PARTNERS THIRD QUARTER INVESTOR CALL PRESENTATION 2020 BUILDING COMMUNITIES | DEVELOPING DREAMS 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 histor ...
Green Brick Partners(GRBK) - 2020 Q2 - Earnings Call Transcript
2020-08-09 19:06
Green Brick Partners, Inc. (NYSE:GRBK) Q2 2020 Earnings Conference Call August 5, 2020 12:00 PM ET Company Participants James Brickman - Co-Founder and Chief Executive Officer Jed Dolson - President of Texas Region Richard Costello - Chief Financial Officer Conference Call Participants Margaret Wellborn - J.P. Morgan Securities Carl Reichardt - BTIG, LLC Matthew Dhane - Tieton Capital Management Aaron Hecht - JMP Securities LLC Operator Good afternoon, everyone, and welcome to Green Brick Partners' earnings ...