Q3 2025 Green Brick Partners Inc Earnings Call Transcript
Key Points
- Green Brick Partners Inc (GRBK) achieved a record third quarter with 898 net orders, marking a 2.4% increase year-over-year.
- The company closed 953 homes in the quarter, nearly matching their record from the previous year.
- Gross margins remained strong at 31.1%, marking the tenth consecutive quarter with margins exceeding 30%.
- Green Brick Partners Inc (GRBK) maintained a low cancellation rate of 6.7%, demonstrating the creditworthiness of their buyers and the desirability of their communities.
- The company has a robust cash position of $142 million and total liquidity of $457 million, providing flexibility to navigate market conditions.
- Home closing revenue declined by 4.6% compared to the third quarter of the previous year.
- Net income attributable to Green Brick Partners Inc (GRBK) decreased by 13% year-over-year.
- The average sales price decreased by 4.2% year-over-year, reflecting affordability challenges.
- Home building gross margins decreased by 160 basis points year-over-year.
- Backlog value decreased by 20% year-over-year, indicating potential future revenue challenges.
Thank you for standing by. My name is [Lacey] and I will be your conference operator today. At this time, I would like to welcome everyone to the Green Brick Partners Inc. third quarter 2025 earnings call. (Operator Instructions)
Thank you. I would now like to turn the conference over to Jeff Cox, Chief Financial Officer. You may begin.
Good afternoon and welcome to Green Brick Partners earnings call for the third quarter ended September 30, 2025. 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. In addition, a presentation will accompany today's webcast, which is available on the company's investor relations website at investors.greenbrickpartners.com.
On the call today is Jim Brickman, Co-Founder, Chief Executive Officer; Jed Dolson, President and Chief Operating Officer; and myself, Jeff Cox, Chief Financial Officer. Some of the information discussed on this
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