Green Brick Partners Down 11.48% To $51.88 After Earnings Miss

Green Brick Partners (GRBK) said after close Thursday that it earned $1.58 per share in quarter four 2023.

On the revenue line, the company reported $450.4 million, missing estimates by $27.7 million.

In the same quarter a year ago, the company earned $1.18 per share on revenue of $431.1 million.

The stock is down 11.48% to $51.88 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Green Brick Partners a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 63. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Green Brick Partners Inc is a homebuilding and land development company. It acquires and develops land, as well as provides land and construction financing to its controlled builders. The company has three reportable segments: builder operations central, builder operations southeast, and land development. The majority of company's revenue is generated from the builder operations central segment that is entirely the operations of builders in Texas. The company is engaged in various aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, sales, and brand image creation. In addition to homebuilding, the company provides home financing services, such as mortgage and title, through its subsidiaries.