Key Highlights:

  • Total Revenue came in at USD 493.8 million, representing a 8.7% decrease year over year driven by a decline.
  • Diluted EPS totaled USD 1.70, representing an 8% year-over-year decrease from USD 1.85 per share.
  • 2026 Land and Development Guidance stood at USD 850 million, consisting of USD 400 million for acquisitions and USD 450.
  • Net Income was reported at USD 74.2 million, decreasing 9.5% year over year from USD 81.9 million in the prior.

Green Brick Partners, Inc. (NYSE:GRBK) is scheduled to report third quarter results on Wednesday, Oct. 28, after the market close. Consensus estimates call for adjusted earnings per share of USD 1.44 on revenue of USD 464.52 million, against a market capitalization of USD 2.76 billion.

In the most recently reported quarter, Total Revenue came in at USD 493.8 million, representing a 8.7% decrease year over year driven by a decline in residential units revenue. Diluted EPS totaled USD 1.70, representing an 8% year-over-year decrease from USD 1.85 per share.

Net New Orders and Other Business Trends

Net New Orders came in at 1,079 units, increasing 19% year over year driven by higher community counts and an improved sales pace. Monthly Sales Pace totaled 3.3 units per community, a 10% increase year over year from 3.0 units. Homebuilding Gross Margin stood at 29.8%, declining 150 basis points year over year but increasing 90 basis points sequentially due to a USD 2.7 million reduction in warranty reserves. Average Sales Price of Deliveries was reported at USD 450,000, representing an 11.9% decrease year over year reflecting a higher mix of Trophy Signature Homes.

Backlog Value and Capital Position

Backlog Value came in at USD 387.4 million, decreasing 23.6% year over year as the average sales price of backlog units fell 18.1% to USD 568,800. Trophy Signature Homes Deliveries totaled 60% of total company deliveries, up significantly as the brand expands in Dallas-Fort Worth, Houston, and Austin. Incentives as Percentage of Revenue stood at 8.8%, increasing 180 basis points year over year from 7% to maintain sales velocity amid high interest rates. Average Construction Cycle Time was reported at 124 days, decreasing by 29 days year over year through construction efficiency and stable trade partner relations. Total Lot Inventory came in at 52,222 lots owned or under contract, with 75.8% of lots owned rather than land banked to preserve margins.

Financial Services Revenue and Additional Detail

Financial Services Revenue came in at USD 12.2 million, representing 93.9% growth year over year due to increased mortgage volume. Financial Services Operating Income totaled USD 5.6 million, representing 90.2% growth year over year as Green Brick Mortgage expanded. Mortgage Capture Rate stood at 66%, with management targeting an increase to over 70% by year-end 2026 following expansion into the Atlanta market. Homebuilding Debt to Total Capital was reported at 11.2%, with a net debt to total capital ratio of 6.1%, among the lowest levels in the homebuilding peer group. Total Liquidity came in at USD 462 million, including USD 132 million in cash and a USD 330 million untapped unsecured revolving credit facility.

Figures to Follow in the Release

Investors can watch third quarter results against the figures management has already put on record, including the following: 2026 Land and Development Guidance came in at USD 850 million, consisting of USD 400 million for acquisitions and USD 450 million for land development outflows.