Green Brick Partners Soars to Record First Quarter Results Amidst Industry Headwinds
Green Brick Partners, Inc. has reported a stellar first quarter in 2025, achieving record-breaking results amidst the backdrop of economic uncertainty and industry headwinds.
The company's strong performance was driven by its strategic focus on infill and infill adjacent locations, coupled with its self-development strategy and total avoidance of land banking costs. This approach enabled Green Brick to close 910 homes and generate $495 million in revenue, a year-over-year increase of 11.8%, marking the highest quarterly revenue in the company's history.
Jim Brickman, Co-Founder and Chief Executive Officer, praised the exceptional team effort that contributed to this success, acknowledging the hard work of each associate in a challenging environment. Despite persistently high interest rates, tariffs, trade wars, government workforce reductions, funding cuts, immigration restrictions, and a sharp decline in stock prices eroding consumer confidence, Green Brick's core strengths remain intact.
The company's focus on land, which is the primary driver of its profitability and industry-leading margins, has been instrumental in its success. According to Brickman, "land is the starting point of every builder's profitability." By mitigating risks through conservative underwriting, an investment-grade low-leverage balance sheet, and decades of experience in their markets, Green Brick has managed to produce homebuilding gross margins exceeding 30% even amidst these economic headwinds.
Notably, approximately 80% of the company's home closings revenue was generated from infill and infill adjacent submarkets. This strategic approach has allowed Green Brick to navigate the challenging environment with greater confidence and flexibility.
Jeff Cox, Interim Chief Financial Officer, took the opportunity to congratulate his colleague Bobby Samuel on his promotion to Executive Vice President of Land, acknowledging his instrumental role in shaping the company's strategic land and lot positions. The appointment reflects the company's commitment to fostering growth and recognizing talent within its ranks.
With net income attributable to Green Brick reaching $75 million and diluted EPS at $1.67 a share, this quarter's results demonstrate the company's resilience and ability to thrive despite industry headwinds. Net new home orders of 1,106 broke the previous record by 2.2%, further solidifying the company's position in the market.
As the company looks ahead to the future, it remains confident that its core strengths will enable it to navigate any challenges with greater confidence and flexibility. With a strong foundation built on land expertise, self-development strategy, and investment-grade balance sheet, Green Brick Partners is poised for continued success.
