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Green Brick Set to Report Q3 Earnings: Key Factors to Consider
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Green Brick Partners, Inc. (GRBK - Free Report) has been gearing up to announce its third-quarter 2024 earnings on Oct. 30, after the closing bell. The quarterly results are likely to reflect year-over-year growth in revenues and earnings per share (EPS).
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
In the last reported quarter, this Plano, TX-based development real estate company reported an EPS of $2.32, which beat the Zacks Consensus Estimate by 31.82%. Results reflected a rise in total revenues on a year-over-year basis. New homes delivered in the quarter increased 26.1% from the prior-year quarter.
The company surpassed the Zacks Consensus Estimate in three of the trailing four quarters and met on the remaining occasion, the average surprise being 15.83%. The graph below depicts this surprise history:
Green Brick is a diversified homebuilding and land development company that operates in Texas, Georgia and Florida. It is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing and sales for its residential neighborhoods and master-planned communities.
The company's superior infill and infill-adjacent locations in high-growth markets are expected to have provided continued benefits amid the strong demand for new homes in its markets.
GRBK is likely to have continued acquiring land and lot positions and generating positive margins in its homebuilding operations to maintain a strong balance sheet position during the quarter.
GRBK’s Projections
The Zacks Consensus Estimate for third-quarter residential units revenues is pegged at $536.5 million, indicating an increase from the year-ago quarter’s $415.9 million.
Under residential units revenues, the consensus mark for home closing revenues is pegged at $517.3 million, indicating a rise from $415.8 million reported in the year-ago quarter. The consensus mark for mechanic’s lien contracts revenues is pinned at $2.1 million, indicating a rise from $0.1 million reported in the year-ago quarter.
The Zacks Consensus Estimate for land and lots revenues is $3.5 million, implying a rise from $3.1 million in the year-ago period.
The consensus estimate for revenues is pegged at $540 million, indicating growth of 28.9% from the year-ago number.
The consensus mark for new homes delivered is pegged at 900 units, indicating a rise from 754 units in the prior-year quarter. Average sales price of homes delivered is estimated at $556, up from $551.5 reported in the year-ago period.
However, Green Brick’s activities in the to-be-reported quarter were inadequate to garner analysts’ confidence. The Zacks Consensus Estimate for the quarterly FFO per share remained unchanged at $2.08 over the past two months. However, the estimate indicates a 33.3% increase from the prior-year quarter’s figure.
What Our Quantitative Model Predicts for GRBK
Our proven model does not conclusively predict an earnings surprise for Green Brick this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Green Brick currently has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a Look
Here are two stocks from the broader real estate market — Cushman & Wakefield plc (CWK - Free Report) and Jones Lang LaSalle (JLL - Free Report) — you may want to consider as our model shows that these have the right combination of elements to report a surprise this quarter.
Cushman & Wakefield is scheduled to report quarterly results on Nov. 4. CWK has an Earnings ESP of +5.87% and a Zacks Rank of 3 presently.
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Green Brick Set to Report Q3 Earnings: Key Factors to Consider
Green Brick Partners, Inc. (GRBK - Free Report) has been gearing up to announce its third-quarter 2024 earnings on Oct. 30, after the closing bell. The quarterly results are likely to reflect year-over-year growth in revenues and earnings per share (EPS).
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
In the last reported quarter, this Plano, TX-based development real estate company reported an EPS of $2.32, which beat the Zacks Consensus Estimate by 31.82%. Results reflected a rise in total revenues on a year-over-year basis. New homes delivered in the quarter increased 26.1% from the prior-year quarter.
The company surpassed the Zacks Consensus Estimate in three of the trailing four quarters and met on the remaining occasion, the average surprise being 15.83%. The graph below depicts this surprise history:
Green Brick Partners, Inc. Price and EPS Surprise
Green Brick Partners, Inc. price-eps-surprise | Green Brick Partners, Inc. Quote
Factors to Consider Ahead of GRBK’s Results
Green Brick is a diversified homebuilding and land development company that operates in Texas, Georgia and Florida. It is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing and sales for its residential neighborhoods and master-planned communities.
The company's superior infill and infill-adjacent locations in high-growth markets are expected to have provided continued benefits amid the strong demand for new homes in its markets.
GRBK is likely to have continued acquiring land and lot positions and generating positive margins in its homebuilding operations to maintain a strong balance sheet position during the quarter.
GRBK’s Projections
The Zacks Consensus Estimate for third-quarter residential units revenues is pegged at $536.5 million, indicating an increase from the year-ago quarter’s $415.9 million.
Under residential units revenues, the consensus mark for home closing revenues is pegged at $517.3 million, indicating a rise from $415.8 million reported in the year-ago quarter. The consensus mark for mechanic’s lien contracts revenues is pinned at $2.1 million, indicating a rise from $0.1 million reported in the year-ago quarter.
The Zacks Consensus Estimate for land and lots revenues is $3.5 million, implying a rise from $3.1 million in the year-ago period.
The consensus estimate for revenues is pegged at $540 million, indicating growth of 28.9% from the year-ago number.
The consensus mark for new homes delivered is pegged at 900 units, indicating a rise from 754 units in the prior-year quarter. Average sales price of homes delivered is estimated at $556, up from $551.5 reported in the year-ago period.
However, Green Brick’s activities in the to-be-reported quarter were inadequate to garner analysts’ confidence. The Zacks Consensus Estimate for the quarterly FFO per share remained unchanged at $2.08 over the past two months. However, the estimate indicates a 33.3% increase from the prior-year quarter’s figure.
What Our Quantitative Model Predicts for GRBK
Our proven model does not conclusively predict an earnings surprise for Green Brick this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Green Brick currently has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a Look
Here are two stocks from the broader real estate market — Cushman & Wakefield plc (CWK - Free Report) and Jones Lang LaSalle (JLL - Free Report) — you may want to consider as our model shows that these have the right combination of elements to report a surprise this quarter.
Cushman & Wakefield is scheduled to report quarterly results on Nov. 4. CWK has an Earnings ESP of +5.87% and a Zacks Rank of 3 presently.
Jones Lang is slated to report quarterly results on Nov. 6. JLL has an Earnings ESP of +13.86% and a Zacks Rank of 2 presently. You can see the complete list of today’s Zacks #1 Rank stocks here.