GRBK - Green Brick reports Q4 new homes delivered 585

Green Brick Partners (GRBK) expects to report EPS between $2.21-$2.23 for 2020, an increase of over 90% and 92.2% Y/Y.Net income of $112.5-$113.5M, an increase of 91.8%-93.5% Y/Y and income before income taxes and noncontrolling interests between $142.1-$143.5M, an increase of 68.5%-70.2%.Residential units revenue $929-$931M (+22.3%-22.5%); Gross margin of 24.0%-24.2%, an increase of 260-280 bps; Backlog was $686.9M, an increase of 98% Y/Y.Homes under construction increased to 1,780 units, a 37.2% increase Y/Y; New homes delivered were 2,208 (+28.4% Y/Y).Q4 2020: New homes delivered were 585, a 13.8% increase Y/Y; Net new orders were 848 homes (+43.7% Y/Y); Average active selling communities increased to 102 (+13.3% Y/Y).“In order to accommodate expected growth in 2021 and beyond, our owned and controlled lots grew to 14,468 lots at year end, a 61% increase over our lot supply at our prior year end." said Rick Costello, CFO.

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Green Brick reports Q4 new homes delivered 585