M.D.C. Holdings, Inc. (NYSE:MDC) Q2 2023 Earnings Conference Call July 27, 2023 1:30 PM ET

Company Participants

Derek Kimmerle - Vice President & Chief Accounting Officer

Larry Mizel - Executive Chairman

David Mandarich - Chief Executive Officer

Bob Martin - Chief Financial Officer

Conference Call Participants

Michael Rehaut - JPMorgan

Paul Przybylski - Wolfe Research

Ken Zener - Seaport Research Partners

Jesse Lederman - Zelman & Associates

Stephen Kim - Evercore.

Operator

Hello, and welcome to the M.D.C. Holdings 2023 Second Quarter Earnings Call. [Operator Instructions] I would now like to turn the conference over to Derek Kimmerle Vice President and Chief Accounting Officer at M.D.C. Please go ahead.

Derek Kimmerle

Thank you. Good morning, ladies and gentlemen, and welcome to M.D.C. Holdings 2023 Second Quarter Earnings Conference Call. On the call with me today, I have Larry Mizel, our Executive Chairman; David Mandarich, Chief Executive Officer; and Bob Martin, Chief Financial Officer. At this time all participants are in a listen-only mode. After finishing our prepared remarks, we will conduct a question-and-answer session at which time we request that participants limit themselves to one question and one follow-up question. Please note that this conference is being recorded and will be available for replay. For information on how to access the replay please visit our website at mdcholdings.com.

Before turning the call over to Larry and David, it should be noted that certain statements made during this conference call including those related to M.D.C.'s business, financial condition, results of operation, cash flows, strategies and prospects and responses to questions may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors that may cause the company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. These and other factors that could impact the company's actual performance are set forth in the company's second quarter 2023 Form 10-Q, which is expected to be filed with the SEC today. It should also be noted that SEC Regulation G requires that certain information accompany the use of non-GAAP financial measures. Any information required by Regulation G is posted on our website with our webcast slides.

And now I will turn the call over to Mr. Mizel for his opening remarks.

Larry Mizel

Thank you for joining us today, as we go over our results for the second quarter of 2023 and provide some insight into the current market conditions and the outlook for our company. M.D.C. reported net income of $93 million or $1.24 per diluted share for the second quarter of 2023, driven by a delivery total of over 2,000 homes resulting in home sales revenues of $1.1 billion.