GRBK - Green Brick Partners stock gains as management outlines growth plans
Green Brick Partners (NASDAQ:GRBK) stock rises 3.3% during the company's Investor Day, where President and Chairman David Einhorn and CEO and Co-Founder Jim Brickman highlight its strong Q2 earnings and revenue growth amid price hikes and shortages. They see that growth continuing. "Top line growth with improving margins and overhead leverage results in the bottom line growing faster than revenues," according to the company's Capital Strategy and Planning report. Chief Financial Officer Rick Costello said SG&A, as a percentage of total revenue, reached an all time low in Q2. He wants to reduce the debt/capital ratio "a bit" throughout the rest of 2021, and points to the company's "fantastic" interest coverage. Backlogs, though, are a little larger than he wants right now. Building more homes at higher gross and operating margins are fueling Trophy Signature Homes growth. Management expects lots' growth trajectory will continue with 160+ lots for full-year 2022. Einhorn said the
For further details see:
Green Brick Partners stock gains as management outlines growth plans