Green Brick Partners Reports Q2 2025 Revenue of $549.1 Million, Net Income Declines

Green Brick Partners, Inc. reported its financial results for the second quarter and first half of 2025, revealing a total revenue of $549.1 million for the three months ended June 30, 2025, a slight decrease from $560.6 million in the same period of 2024. For the six months ended June 30, 2025, total revenue increased to $1.05 billion, up from $1.01 billion year-over-year. The company’s net income attributable to shareholders for the second quarter was $81.9 million, down from $105.4 million in the prior year, while net income for the first half of 2025 was $157.0 million, compared to $188.7 million in 2024.

The company experienced a 5.6% increase in home deliveries during the second quarter, with 1,042 homes delivered compared to 987 in the same period last year. However, the average sales price of homes delivered decreased by 5.3% to $525,100, attributed to increased discounts and incentives aimed at driving sales. The gross margin for residential units also declined, falling to 30.4% from 34.5% in the previous year, primarily due to higher costs associated with incentives and closing expenses.

In terms of operational metrics, Green Brick reported a 6.2% increase in net new home orders, totaling 908 for the second quarter, while the cancellation rate rose slightly to 9.9% from 9.2% in the prior year. The company’s backlog revenue decreased by 20.6% year-over-year, reflecting a decline in homes under sales contracts that have not yet closed. As of June 30, 2025, the company had 35,468 lots owned, an increase from 32,716 at the end of 2024, indicating ongoing efforts to expand its land inventory.

Strategically, Green Brick has been active in share repurchases, completing the buyback of 744,857 shares for approximately $43.4 million during the second quarter. The company has a remaining authorization of $39.9 million under its $100 million stock repurchase program initiated in February 2025. Additionally, the company has made significant investments in unconsolidated entities, with total investments rising to $82.3 million as of June 30, 2025, compared to $60.6 million at the end of 2024.

Looking ahead, Green Brick remains focused on maintaining a strong balance sheet and generating positive margins in its homebuilding operations. The company is targeting a debt to total capitalization ratio of up to 20% to support its growth initiatives. The management anticipates that the ongoing economic conditions, including interest rates and consumer demand, will play a critical role in shaping its operational strategies and financial performance in the coming quarters.