Green Brick Partners(US:GRBK)2022-03-03 20:54Financial Performance - Q4 2021 - Total revenues increased by 78% year-over-year, reaching $452.251 million compared to $254.1 million in Q4 2020[5] - Net income attributable to GRBK increased by 116.6% year-over-year, reaching $63.471 million compared to $29.310 million in Q4 2020[5] - Diluted EPS increased by 113.8% year-over-year, reaching $1.24 compared to $0.58 in Q4 2020[5] - Average sales price of homes delivered increased by 21.3% to $509.3K in Q4 2021[5] - Homebuilding gross margin improved by 110 bps to 26.2% in Q4 2021[5] - SG&A as a percentage of residential units revenue decreased by 350 bps to 8.8% in Q4 2021[5] Financial Performance - Full Year 2021 - Total revenues increased by 43.7% year-over-year, reaching $1.402876 billion compared to $976.021 million in 2020[8] - Net income attributable to GRBK increased by 67.3% year-over-year, reaching $190.210 million compared to $113.693 million in 2020[8] - Diluted EPS increased by 66.1% year-over-year, reaching $3.72 compared to $2.24 in 2020[8] - Average sales price of homes delivered increased by 10.1% to $460.7K in 2021[8] - Homebuilding gross margin improved by 220 bps to 26.4% in 2021[8] - SG&A as a percentage of residential units revenue decreased by 180 bps to 10.3% in 2021[8] - Backlog increased by 26.6% to $869.856 million in 2021[8] Land and Expansion - Lots owned and controlled increased by 98% year-over-year[8, 27] - The company announced expansion to Austin, Texas market[3, 24, 27]