Q4 2025 Green Brick Partners Inc Earnings Call Transcript
Key Points
- Green Brick Partners Inc (GRBK) achieved a record fourth quarter with 1,038 homes delivered, marking a 1.9% increase year over year.
- The company reported 883 net orders, setting a record for any fourth quarter.
- Despite a challenging market, Green Brick Partners Inc (GRBK) maintained industry-leading gross margins at 29.4%.
- The company has a strong financial position with a net debt to total capital ratio of 8.2% and a robust cash position of $155 million.
- Green Brick Partners Inc (GRBK) is expanding its Trophy brand in key Texas markets, including DFW, Austin, and Houston, which presents significant growth opportunities.
- Homebuilding gross margin declined by 490 basis points year over year due to increased price concessions and changes in product mix.
- Net income attributable to Green Brick Partners Inc (GRBK) decreased by 24.5% year over year to $78 million.
- The average sales price decreased by 3.1% year over year, reflecting the challenging market conditions.
- Backlog value decreased by 28.5% year over year, primarily due to a higher proportion of quick move-in sales.
- The company experienced a 14% year-over-year decline in new home starts, aligning with a reduced sales pace.
(Operator Instructions)
Ladies and gentlemen, thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to the Green Brick Partners fourth-quarter 2025 earnings conference call. (Operator Instructions) Thank you.
I would now like to turn the conference over to Jeff Cox, Chief Financial Officer, Jeff, the floor is yours.
Good afternoon, and welcome to Green Brick Partners' earnings call for the fourth quarter ended December 31, 2025. 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 which is available on the company's Investor Relations website at investors.greenbickpartners.com. On the call today is Jim Brickman, Co-Founder and Chief Executive Officer; Jed Dolson, President and Chief Operating Officer; and myself, Jeff Cox, Chief Financial
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