Green Brick Partners Achieves Record-Breaking Quarter, Celebrates Tenth Anniversary as a Public Company
Green Brick Partners, Inc. has announced record-breaking results for the fourth quarter of 2024, capping off a decade-long journey as a public company. During the earnings call on February 27, 2025, CEO Jim Brickman and CFO Rick Costello shared key highlights from the quarter.
The company closed a record 1,019 homes in the fourth quarter, with home closing revenue growing by 24% year-over-year to $557 million. This growth was largely driven by sales in infill and infill adjacent submarkets, which accounted for over 80% of total revenue. Net sales orders increased by 29% year-over-year, while average selling communities grew by 19%. Notably, net income attributable to Green Brick Partners during the fourth quarter grew by 42% to $104 million, with diluted EPS increasing by 46% year-over-year to $2.31 – both records for any fourth quarter in the company's history.
2024 was a milestone year for Green Brick Partners, despite a challenging mortgage rate environment. The company achieved several key milestones, including record-breaking home closings, improved gross margins, and significant growth in diluted EPS. Since its inception in 2015, Green Brick has experienced substantial expansion, with home closings growing almost sixfold from 665 units to 3,783 in 2024.
The company's land and lot position has also been significantly strengthened, with total land inventory increasing by almost eightfold since 2015. This growth was achieved while maintaining a low debt-to-total capital ratio of 17.2% at the end of 2024 – the lowest year-end level since 2015. Green Brick Partners' workforce has expanded from approximately 200 employees in 2015 to 650 in 2024, with CEO Jim Brickman expressing his gratitude for their invaluable contributions.
"We are extremely pleased to report record fourth quarter and full year 2024 results as we celebrate Green Brick's tenth anniversary as a public company," said Jim Brickman during the earnings call. "Our diluted annual EPS of $8.45 beat last year's record EPS by 38%."
Green Brick Partners' business model, balance sheet, product quality, and exceptional team have all contributed to its success. The company's focus on land and its strategic position in some of the fastest-growing residential markets in the country – notably Dallas-Fort Worth and Atlanta – has been key to its growth.
"Land has always been the cornerstone of our business and one of our biggest strategic advantages," said Jim Brickman during the earnings call. "Our footprints are concentrated in some of the fastest-growing residential markets in the country, which both benefit from robust demographic trends and healthy job markets."
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