Mar. 12 at 11:35 AM
$SDHC Smith Douglas Homes reports Q4 EPS 46c, consensus 45c
Reports Q revenue
$287.5M, consensus
$265.85M...Greg Bennett, Vice Chairman and Chief Executive Officer, commented, "Smith Douglas ended the year on a strong note, generating pre-tax income of
$30 million in the fourth quarter of 2024. New home deliveries for the quarter totaled 836, which was well above our stated guidance and represented a Company record for quarterly closings. Home closing gross margin came in line with our expectations for the quarter at 25.5%. I want to thank all our team members for their efforts this quarter and for making our first year as a public company a real success."
Russ Devendorf, Executive Vice President and Chief Financial Officer added, "During the quarter we made further progress towards expanding our homebuilding operations in existing markets and establishing our presence in newer markets. Lot count at the end of the quarter stood at 19,522 lots, representing a 52% increase over last year. Approximately 96% of our unstarted controlled lots were controlled via option agreement, which is consistent with our land light strategy."
Mr. Devendorf continued, "As we enter the heart of the 2025 spring selling season, we remain encouraged by the trends we are seeing in our markets. Traffic levels at our communities and online have been solid so far this year, though affordability issues continue to persist, while the supply of existing homes remains below historical levels. Given the value proposition Smith Douglas offers to buyers through our affordable pricing and the customization we can provide, we believe we can compete effectively in today's market environment."
