Financial Data and Key Metrics - Record home closing revenue of $547 million, up 20% YoY, with 987 homes closed, a 26% increase [3][11] - Homebuilding gross margin reached a record 34.5%, up 320 basis points YoY and 110 basis points higher than the previous record [4][12] - Net income attributable to Green Brick grew 35.3% YoY, with diluted EPS increasing 38% to $4.14 [4][16] - Annualized return on equity for the first half of 2024 was 28.3%, and book value increased 26% YoY to $31.21 per share [4] - Total debt to total capital ratio was 17.7%, with a net debt to total capital ratio of 10.9% and a weighted average pay rate of 3.4% [5][17] Business Line Data and Key Metrics - Trophy, the entry-level and first-time move-up brand, closed 810 homes, representing 45% of total home closings and 34% of total home closing revenue [26] - Net new orders in Q2 were up 4.0% YoY to 855 homes, the highest level for any second quarter in company history [14] - Active selling communities grew 22% YoY to 105, with Trophy's community count increasing 41% YoY to 38 [15] - Cancellation rate remained low at 9.2%, one of the lowest among public homebuilding peers [15] Market Data and Key Metrics - Dallas-Fort Worth and Atlanta are the largest markets, with very few third-party lot developers, allowing the company to self-develop land and control lot deliveries [8][25] - Existing home inventory remains near historic lows, particularly in infill and infill-adjacent submarkets, where the company generates over 80% of its revenues [9] - The US housing market faces a systemic shortage of 4 million to 7 million units, driven by demographic shifts and an aging housing stock [9] Company Strategy and Industry Competition - The company prioritizes self-development of land, avoiding expensive premiums charged by third-party developers, which contributes to industry-leading gross margins [6][24] - Green Brick's land-light model contrasts with peers who face increasing finished lot costs, with the company's average developed lot cost expected to increase only 30 basis points annually [13] - The company announced the establishment of Green Brick Mortgage, a wholly owned mortgage company, to enhance control over the mortgage origination process and capture more earnings [10] Management Commentary on Operating Environment and Future Outlook - Management highlighted the company's ability to generate superior returns and growth due to its capital allocation and land strategy, positioning it for long-term success [20] - The company remains optimistic about long-term secular demographic shifts and rising demand, particularly if mortgage rates drop [20] - Green Brick is well-positioned for continued growth into 2025 and beyond, with a strong pipeline of land and lot inventory [26] Other Important Information - The company repurchased approximately 1.5% of its shares outstanding, valued at $38 million, during the second quarter [18] - Cycle times have stabilized at 5.4 months, a reduction of more than two months from Q2 2023, with further optimization expected [24] Q&A Session Summary Question: Can we expect the start pace to increase in the coming quarters? - The start pace will depend on sales performance, but the company expects cycle times to shorten over time, particularly with Trophy's faster delivery times [28][29] Question: Are incentives expected to impact gross margins in Q3? - Incentives are variable and depend on interest rates and seasonality, but the company has flexibility to adjust prices if needed [32][33] Question: What is the plan if the economy slows down? - The company does not plan to sell into the build-for-rent market and has sufficient margin cushion to maintain sales velocity even in a downturn [37][38] Question: Why were prices only raised in a third of communities? - Seasonality toward the end of the quarter impacted pricing ability [36]

Core Insights - Green Brick Partners (GRBK) reported revenue of $560.63 million for the quarter ended June 2024, marking a year-over-year increase of 22.9% and exceeding the Zacks Consensus Estimate of $489.73 million by 14.48% [1] - The company achieved an EPS of $2.32, up from $1.63 a year ago, surpassing the consensus EPS estimate of $1.76 by 31.82% [1] Financial Performance Metrics - Net New Home orders totaled 855, which is below the average estimate of 916 from two analysts [3] - New homes delivered were 987, exceeding the average estimate of 893 from two analysts [4] - Backlog units stood at 889, compared to the average estimate of 1,043 from two analysts [5] - Active selling communities at the end of the period numbered 105, surpassing the average estimate of 98 from two analysts [6] - Land and lots revenue was reported at $13.49 million, significantly higher than the estimated $3.50 million, reflecting a year-over-year increase of 631.7% [7] - Residential units revenue reached $547.14 million, exceeding the average estimate of $486.23 million and representing a year-over-year change of 20.4% [8] Stock Performance - Over the past month, shares of Green Brick Partners have returned +36.7%, while the Zacks S&P 500 composite experienced a -0.4% change [8] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [8]

Green Brick Partners (GRBK) came out with quarterly earnings of $2.32 per share, beating the Zacks Consensus Estimate of $1.76 per share. This compares to earnings of $1.63 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 31.82%. A quarter ago, it was expected that this real estate investment company would post earnings of $1.50 per share when it actually produced earnings of $1.82, delivering a surprise of 21.33%. Over the la ...

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 June 30, 2024 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 charter) Delaware 20-5952523 (State o ...

Exhibit 99 1 GREEN BRICK PARTNERS, INC. REPORTS RECORD SECOND QUARTER 2024 RESULTS RECORD HOME CLOSINGS REVENUE OF $547M, UP 20.4% YOY RECORD HOMEBUILDING GROSS MARGIN OF 34.5%, UP 320 BPS YOY RECORD DILUTED EPS OF $2.32, UP 42.3% YOY NET NEW HOME ORDERS OF 855, UP 4.0% YOY DEBT TO TOTAL CAPITAL OF 17.7%; NET DEBT TO TOTAL CAPITAL OF 10.9% PLANO, Texas, July 31, 2024 — Green Brick Partners, Inc. (NYSE: GRBK) ("we," "Green Brick" or the "Company"), today reported record results for its second quarter ended J ...

The upcoming report from Green Brick Partners (GRBK) is expected to reveal quarterly earnings of $1.76 per share, indicating an increase of 8% compared to the year-ago period. Analysts forecast revenues of $489.73 million, representing an increase of 7.3% year over year. Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Analysts' assessment points toward ' ...

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Green Brick Partners is currently sporting a Zacks Rank of #1 (Strong Buy). Another stock in the Finance sector, Erste Group Bank AG (EBKDY) , has outperformed the sector so far this year. The stock's year-to-date return is 16.4%. Green Brick Partners is one of 854 companies in the Fin ...

Barron's recently suggested that the malaise in homebuilder stocks that's been ongoing since March looks ready to end. That suggests investors might want to consider homebuilder stocks to buy to ride their upward correction. Arguments for buying homebuilder stocks include the fact that despite more homes for sale in the U.S. — 1.52 million single family homes, new and existing, were for sale in April — that is still well below the historical average of 2.36 million. The article points out that UBS analysts ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Sco ...

Green Brick Partners (GRBK) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. The upward trend in estimate revisions for this real estate investment company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in ...