Green Brick Partners, Inc. (NYSE:GRBK) Q2 2022 Earnings Conference Call August 4, 2022 12:00 PM ET
Company Participants
Jim Brickman - Co-Founder & Chief Executive Officer
Rick Costello - Chief Financial Officer
Jed Dolson - Chief Operating Officer
Conference Call Participants
Alex Rygiel - B. Riley
Carl Reichardt - BTIG
Jay McCanless - Wedbush Securities
Alex Barron - Housing Research
Bill Dezellem - Tieton Capital
Operator
Good afternoon and welcome to Green Brick's Partners Earnings Call for the Second Quarter Ended June 30th, 2022. Following today's remarks, we will hold a question -- a Q&A session. As a reminder, this call is being recorded. And will be available for playback. In addition, a presentation will accompany today's Webcast and is available on the company's website, at investors.greenbrickpartners.com.
Joining us on the call today is Jim Brickman, Co-Founder and Chief Executive Officer; Rick Costello, Chief Financial Officer; and Jed Dolson Chief Operating Officer. Some of the information discussed on this call is forward-looking including the company's financial and operational expectations for 2022 and beyond.
In yesterday's press release and SEC filings the company detailed material risks that may cause its future results to differ from its expectations. The company's statements are as of August 3rd 2022 and the company has no obligation to update any forward-looking statements it may make.
The comments also include non-GAAP financial metrics. The reconciliation of these metrics and the other information required by Regulation G can be found in the earnings release that the company issued yesterday and in the presentation available on the company's website.
With that, I will now turn the call over to Jim Brickman.
Jim Brickman
Thank you. We're pleased to share results of another outstanding quarter. During the second quarter we delivered a record, 881 homes generated record quarterly total revenues for any quarter of $525 million and achieved a record homebuilding gross margin of 32.3%, despite a challenging supply chain and labor environment.
As a result, the company generated a record $101 million in net income or $2.08 per diluted share, representing a year-over-year growth rate in quarterly EPS of a 104%. Green Brick has a track record of generating some of the best returns among our peers and this quarter was even better with an annualized return on equity of 45.6%.
We encourage you to take the time to compare our results and key operating metrics with any of our homebuilding peers of any size. I'm also excited to share that we officially joined The S&P SmallCap 600 in July. This is a milestone that is not possible without a hard-working talented team.