Green Brick Partners (GRBK) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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]