Financial Data and Key Metrics Changes - Smith Douglas reported pre-tax income of $25.9 million, translating to $0.40 per diluted share for Q2 2024, with net income of $24.7 million [5][10] - Home closing revenue reached $220.9 million, with a gross margin of 26.7%, exceeding guidance due to solid demand and cost containment [5][10] - Adjusted net income for the quarter was $19.4 million, assuming a 25% effective tax rate [11] Business Line Data and Key Metrics Changes - The company closed 653 homes in Q2 2024, a 17% increase year-over-year, with net new home orders at 715, also a 17% increase [5][10] - The average sales price of closed homes was $338,000, with a backlog of 1,173 homes at an average selling price of $345,000 [10][12] Market Data and Key Metrics Changes - The company experienced favorable operating conditions, including low existing home inventory and healthy job growth [5][6] - The total controlled lots increased by 81% year-over-year, totaling over 15,800 lots [12] Company Strategy and Development Direction - The company focuses on operational efficiency and a disciplined culture to improve homebuilding processes [7] - A land lot strategy prioritizes minimizing land risk through option agreements, with 96% of unstarted controlled lots secured this way [8] - The company aims to grow homebuilding operations and expand its market presence, particularly outside Atlanta [9][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current operational state and the macro environment, anticipating continued demand for homeownership [9] - The outlook for Q3 2024 includes home closings between 725 and 775 homes, with an average sales price between $340,000 and $345,000 [13][14] - Risks to projections include maintaining sales pace and potential delays in permitting [14] Other Important Information - The company ended the quarter with approximately $17 million in cash and no borrowings under its credit facility, indicating a strong balance sheet [13] - A one-time charge of $1.2 million related to a purchase accounting adjustment was included in the net income for the quarter [11] Q&A Session Summary Question: Update on community count growth and thoughts for next year - Management expects to end the year with 76 to 80 communities, with some coming offline due to exceeding sales [16] Question: Demand trends over the last few months - Current demand trends are slightly below typical seasonality, with recent weeks showing good demand despite seasonal interruptions [18][19] Question: Margins for the Devon Street division compared to legacy business - Integration is progressing well, with margins in the mid-20s, consistent with legacy business expectations [22] Question: Drivers for the increase in gross margin outlook - The increase is due to better-than-expected sales margins, with land costs being the primary driver of margin erosion [24] Question: Backlog margins and assumptions for Q3 - Backlog margins are expected to be around 26%, with mix-related factors influencing Q3 performance [28] Question: Incentives being offered and competitive pressure - Incentives remain consistent, with most buyers opting for closing cost credits rather than buy downs [43][44] Question: Orders in the Houston division and seasonal trends - Seasonal trends impacted orders, with the first quarter performing better than expected [48] Question: Land position and opportunities - The company is actively pursuing land deals and expanding its footprint, particularly in Georgia [50][51]

Financial Performance - Revenue rose 22% to $220.9 million in Q2 2024[1] - Net income for Q2 2024 was $24.734 million, down from $30.741 million in Q2 2023, a decrease of 19.5%[14] - Adjusted net income for the three months ended June 30, 2024, was $19,399 thousand, down from $23,056 thousand for the same period in 2023[20] - For the six months ended June 30, 2024, adjusted net income was $35,455 thousand, compared to $44,675 thousand for the same period in 2023, showing a decline in profitability[20] - Income before income taxes for the three months ended June 30, 2024, was $25,866 thousand, compared to $30,741 thousand for the same period in 2023, reflecting a decrease in pre-tax earnings[20] Orders and Closings - Net new orders increased 17% to 715 compared to Q2 2023[1] - Home closings increased 17% to 653 year-over-year[1] - Home closings increased to 653 in Q2 2024 from 560 in Q2 2023, representing a growth of 16.6%[8] - Net new home orders reached 715 in Q2 2024, compared to 612 in Q2 2023, reflecting a 16.9% increase[8] - The backlog of homes at the end of Q2 2024 was 1,173, up from 985 in Q2 2023, indicating an increase of 19.1%[11] Backlog and Lot Control - Backlog homes increased 19% to 1,173, with a sales value of backlog homes rising 23% to $404.7 million[1] - The contract value of backlog homes rose to $404.750 million in Q2 2024, compared to $330.258 million in Q2 2023, a growth of 22.5%[11] - Total controlled lots increased 81% to 15,842[1] - Total controlled lots increased to 15,842 as of June 30, 2024, from 8,770 in 2023, representing an 80.3% increase[13] Financial Position - Cash at the end of the quarter was over $17 million, with zero borrowings under the credit facility[1] - The company reported a net-debt-to-net book capitalization of (4.1)%[1] - The total assets increased to $429.3 million from $352.7 million as of December 31, 2023[6] - As of June 30, 2024, total debt is $3,859 thousand, significantly down from $75,627 thousand on December 31, 2023, indicating a reduction in debt levels[18] - Stockholders' equity increased to $344,559 thousand as of June 30, 2024, compared to $208,903 thousand on December 31, 2023, reflecting strong equity growth[18] - The net-debt-to-net book capitalization improved to (4.1)% as of June 30, 2024, from 21.1% on December 31, 2023, indicating a stronger financial position[18] - The total capitalization as of June 30, 2024, was $348,418 thousand, up from $284,530 thousand on December 31, 2023, indicating growth in overall capital structure[18] - The company’s net debt position improved to (13,439) thousand as of June 30, 2024, compared to a net debt of $55,850 thousand on December 31, 2023, highlighting a significant reduction in net debt[18] - The debt-to-book capitalization ratio decreased to 1.1% as of June 30, 2024, from 26.6% on December 31, 2023, indicating a healthier balance sheet[18] Pricing and Market Conditions - The average selling price (ASP) of homes closed rose to $338,000 in Q2 2024, up from $324,000 in Q2 2023, marking a 4.3% increase[8] - The contract value of net new home orders was $243.842 million in Q2 2024, up from $206.130 million in Q2 2023, a growth of 18.3%[8] - The cancellation rate increased to 11.8% in Q2 2024 from 8.7% in Q2 2023[8] Tax and Regulatory Changes - The provision for income taxes for the three months ended June 30, 2024, was $1,132 thousand, while there was no provision for the same period in 2023, indicating a change in tax strategy[20]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 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: 001-41917 Smith Douglas Homes Corp. (Exact Name of Registrant as Specified in its Charter) (S ...

Financial Data and Key Metrics Changes - The company generated pre-tax income of $21.4 million in Q1 2024, with diluted EPS of $0.33 [30] - Home sales revenue reached $189 million, reflecting a 13% increase in deliveries [30] - Gross margin for the quarter was reported at 26.1%, with SG&A expenses at 14.6% of revenue [59] Business Line Data and Key Metrics Changes - The average sales price for closed homes was $334,000, with new orders totaling 765 homes [30][39] - The backlog consisted of 1,110 homes with an average selling price of $343,000 and expected gross margin of approximately 26.5% [63][96] Market Data and Key Metrics Changes - The company noted strong traffic across all divisions, with a sales pace of 3.6 homes per community per month [30][67] - The cancellation rate remained low at 10.6%, indicating stable demand [30] Company Strategy and Development Direction - The company aims to expand its geographic footprint both organically and through strategic M&A, focusing on affordable segments of the market [35][37] - The integration of Devon Street Homes in Houston is progressing well, with positive feedback from the sales team [37][17] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the housing market, citing strong job creation and in-migration as positive demand drivers [35][38] - The company anticipates home closings for Q2 2024 to be between 600 and 625 homes, with an average sales price between $335,000 and $340,000 [65] Other Important Information - The company ended the quarter with approximately $33 million in cash and no borrowings under its $250 million revolving credit facility [43] - The effective tax rate for GAAP purposes was reported at 4.3% [40] Q&A Session Summary Question: Clarification on tax rate differences for GAAP and EPS - Management confirmed that the tax rate for GAAP purposes differs from that used for calculating EPS, and offered to discuss details offline [6][26] Question: Incentives post-quarter end - Management indicated that incentives have remained consistent with Q1, forecasting no significant changes due to expected prolonged higher rates [7] Question: Legacy Smith Douglas markets performance - Management noted that closings were flat, with some declines in specific markets due to timing and community openings, rather than demand issues [11][12] Question: Houston market implementation - Management reported successful implementation of sales processes in Houston, with positive reception from the team [16][17] Question: Backlog gross margin expectations - Management stated that the backlog gross margin is currently at 26.5%, with expectations for it to remain stable [24][96] Question: Changes in pricing and incentives - Management confirmed that pricing has remained stable, with some increases in certain areas, and no significant changes in incentives expected [74][75] Question: Lot costs and inflation - Management acknowledged increases in lot costs and inflation pressures, particularly for finished lots, but noted these would impact future guidance rather than current projections [93][94] Question: Devon Street margins relative to expectations - Management indicated that margins from the Devon Street acquisition are coming in better than anticipated, aided by favorable purchase accounting adjustments [95][96]

Exhibit 99.1 Smith Douglas Homes Reports First Quarter 2024 Results ATLANTA, May 14, 2024 (Business Wire) – Smith Douglas Homes Corp. (NYSE: SDHC) ("Smith Douglas" or the "Company") today announced first quarter results for the three months ended March 31, 2024. Q1 2024 Results as compared to Q1 2023: Greg Bennett, Vice Chairman and Chief Executive Officer, commented, "We are pleased by the results this quarter, our first as a public company, during which we completed our IPO in January and concurrently ame ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10‑K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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: 001-41917 Smith Douglas Homes Corp. (Exact name of Registrant as specified in its Charter) Delaware (State or other jurisdiction of inco ...

Orders and Backlog - The company reported a net new orders increase of 22.8%, totaling 2,368 homes[7] - Backlog homes rose by 18.3% to 912, with a sales value of backlog homes increasing by 20.1% to $310.7 million[7] - The cancellation rate improved to 10.5% from 10.9% in the prior year, indicating better order retention[4][11] Home Closings and Revenue - Home closings increased by 4.4% to 2,297, while revenue grew by 1.2% to $764.6 million[7] - The average selling price (ASP) of homes closed decreased by 2.9% to $333, while the ASP of net new home orders fell by 3.2% to $335[11] Financial Performance - Net income decreased by 12.3% to $123.2 million, with a debt-to-book capitalization of 26.6%[7] - The company successfully raised over $125 million in its IPO and secured a $250 million unsecured credit facility[5] Growth Strategy - The company aims to double home closings over the next five years, reflecting a strong growth strategy[5] - The company had 69 active communities at year-end, up from 53 the previous year, representing a 30.2% increase[4][11] - Total controlled lots increased by 48.3% to 12,821, with homes under construction rising by 27.8% to 796[11]

Smith Douglas Homes Corp. (NYSE:SDHC) Q4 2023 Results Conference Call March 20, 2024 8:30 AM ET Company Participants Eddy Kleid - VP, Finance Greg Bennett - VC, CEO Russ Devendorf - EVP, CFO Tom Bradbury - Founder, Executive Chairman Conference Call Participants Andrew Azzi - JPMorgan Mike Dahl - RBC Capital Markets Jay McCanless - Wedbush Sam Reid - Wells Fargo Operator Good morning. My name is Dennis, and I will be your conference operator today. At this time, I would like to welcome everyone to the Smith ...