Green Brick Partners, Inc. (NYSE:GRBK) Q2 2024 Results Conference Call August 1, 2024 12:00 PM ET

Company Participants

Richard Costello - CFO
James Brickman - Co-Founder and CEO
Jed Dolson - President and COO

Conference Call Participants

Carl Reichardt - BTIG
Alexander Rygiel - B. Riley
Jay McCanless - Wedbush

Operator

Thank you for standing by. My name is Angela and I will be your conference operator today. At this time, I would like to welcome everyone to the Green Brick Partners, Inc. Second Quarter Conference Earnings Call. [Operator Instructions].

I would now like to turn the conference over to Rick Costello, Chief Financial Officer. Please go ahead.

Richard Costello

Good afternoon and welcome to the Green Brick Partners earnings call for the second quarter ended June 30th, 2024. Following today's remarks, we will hold 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 also available on the company's website at investors.greenbrickpartners.com.

On the call today is Jim Brickman, Co-Founder and Chief Executive Officer; Jed Dolson, President and Chief Operating Officer; and myself, Rick Costello, Chief Financial Officer. Some of the information discussed on this call is forward-looking, including the company's financial and operational expectations for 2024 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 today, August 1st, 2024, and the company has no obligation to update any forward-looking statement 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'll turn the call over to Jim. Jim?

James Brickman

Thank you, Rick. I'm extremely proud of our record performance in the second quarter. During the second quarter, we achieved another set of record-breaking results for the company. First, we delivered a record 987 homes and join underrated record home closing revenue of $547 million, an increase of 20% year-over-year.

Second, our Homebuilding gross margin soared to a record 34.5%, which is the highest among public homebuilding peers as shown on Slide 4. Year-to-date, the net income attributable to Green Brick grew 35.3% and earnings for share increased 38% year over year to $4.14. This performance was highlighted by a record quarterly EPS of $2.32, up 42.3% year over year.