Business
Genesis Reports 2026 First Quarter Results and Declares a Special Dividend of $0.12
Genesis Land Development Corp. (TSX: GDC) (the "Corporation" or "Genesis") reported its financial and operating results for the three months ("Q1") ended March 31, 2026. Genesis is an integrated land developer and residential home builder with a strategy to grow its portfolio of well-located, entitled and unentitled primarily residential lands and serviced lots throughout the Calgary Metropolitan Area ("CMA").
About this update from Genesis Land Development Corp.
[{"type":"text","content":"CALGARY, AB, May 13, 2026 /CNW/ - Genesis Land Development Corp. (TSX: GDC) (the "Corporation" or "Genesis") reported its financial and operating results for the three months ("Q1") ended March 31, 2026. Genesis is an integrated land developer and residential home builder with a strategy to grow its portfolio of well-located, entitled and unentitled primarily residential lands and serviced lots throughout the Calgary Metropolitan Area ("CMA").","length":492,"tagName":"p"},{"type":"image","alt":"Genesis Logo (CNW Group/Genesis Land Development Corp.)","displaySize":"","headline":null,"caption":"Genesis Logo (CNW Group/Genesis Land Development Corp.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":60,"url":"https://media.zenfs.com/en/cnwgroup.com/96d13fb12af0756002930b5c34fb0d4d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/koGQI8fLlodo0dJfiWRLiQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEwNjtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/96d13fb12af0756002930b5c34fb0d4d","width":400,"height":60},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/nOiqFQ.KIJ8OYFCJhzgJmw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTk2O2NmPXdlYnA-/https://media.zenfs.com/en/cnwgroup.com/96d13fb12af0756002930b5c34fb0d4d","width":400,"height":60}},"href":"https://mma.prnewswire.com/media/2979685/Genesis_Land_Development_Corp__Genesis_Reports_2026_First_Quarte.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The following are highlights of Genesis financial results for the first quarter of 2026:","length":88,"tagName":"p"},{"type":"text","content":"Q1 2026 Highlights","length":18,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"82 Homes Sold and 108 New Home Orders: In Q1 2026, Genesis sold 82 homes, an increase of 15% from the 71 sold in Q1 2025. During Q1 2026, Genesis had 108 new home orders compared to 75 for Q1 2025. Genesis had 188 outstanding new home orders on hand at March 31, 2026 (269 at March 31, 2025).","length":292,"tagName":"p"}]},{"val":[{"type":"text","content":"$51.5 Million of Revenues: Genesis generated revenues of $51.5 million in Q1 2026, down from $58.2 million achieved in Q1 2025.","length":127,"tagName":"p"}]},{"val":[{"type":"text","content":"$0.8 Million of Net Earnings: Net earnings attributable to equ...