Green Brick Partners, Inc. (NYSE:GRBK) Q1 2022 Earnings Conference Call May 4, 2022 ET
Company Participants
Jim Brickman - Chief Executive Officer
Rick Costello - Chief Financial Officer
Jed Dolson - Chief Operating Officer
Conference Call Participants
Doug Wardlaw - JPMorgan
Carl Reichardt - BTIG
Alex Rygiel - B. Riley
Jay McCanless - Wedbush
Bill Dezellem - Tieton Capital Management
Alex Barron - Housing Research Center
Operator
Good afternoon, everyone, and welcome to Green Brick’s Partners Earnings Call for the First Quarter Ended March 31, 2022. Following today’s remarks, we will hold a question-and-answer session. As a reminder, this call is being recorded and will be available for playback.
A slideshow supporting today’s presentation will accompany today’s webcast and is available on Green Brick Partners website, www.greenbrickpartners.com. From the homepage, please select reporting and presentations under Investor Relations and then navigate to the presentation named First Quarter 2022 Investor Call Presentation.
The company reminds you that during this conference call, it will make various forward-looking statements within the meaning of the Safe Harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including its financial and operational expectations for 2022 and the future.
Investors are cautioned that such forward-looking statements are based on current expectations and are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those set forth in our forward-looking statements. These risks are set forth in our first quarter earnings press release, which was released on Tuesday, May 03, 2022 and the risk factors described in the company’s most recent annual and quarterly filings with the Securities and Exchange Commission. Green Brick Partners undertakes no duty to update any forward-looking statements that are made during this call.
In addition, our comments will include non-GAAP financial metrics. The reconciliation of these metrics and the other information required by the Regulation G regarding these metrics can be found in the earnings release that Green Brick issued yesterday and the presentation available on the company’s website.
Now, I would now like to turn the conference over to Green Brick’s CEO, Jim Brickman. Mr. Brickman, please go ahead.
Jim Brickman
Okay. Thank you, operator. Good afternoon and welcome to our first quarter 2022 earnings call. With me today are Rick Costello, our Chief Financial Officer and Jed Dolson, our Chief Operating Officer.
We're pleased to report yet another outstanding quarter highlighted by 68% year-over-year total revenue growth and 135% year-over-year EPS growth. Our quarterly gross margins of 27.8% were our highest since the first quarter of 2015 and our quarterly SG&A leverage of 9.4% in Q1 was the second best in our history after the record best in Q4 of last year.