Business
Smith Douglas Homes Reports First Quarter 2025 Results
ATLANTA, May 14, 2025--Smith Douglas Homes Corp. (NYSE: SDHC) ("Smith Douglas" or the "Company") today announced first quarter results for the three months ended March 31, 2025.
About this update from Smith Douglas Homes Corp.
[{"type":"text","content":"ATLANTA, May 14, 2025--(BUSINESS WIRE)--Smith Douglas Homes Corp. (NYSE: SDHC) ("Smith Douglas" or the "Company") today announced first quarter results for the three months ended March 31, 2025.","length":214,"tagName":"p"},{"type":"text","content":"Q1 2025 Results as compared to Q1 2024:","length":39,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Home closings increased 19% to 671","length":34,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Home closing revenue increased 19% to $224.7 million","length":52,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Home closing gross margin of 23.8% compared to 26.1%","length":52,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net new home orders of 768 compared to 765","length":42,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Pretax income of $19.6 million compared to $21.4 million","length":56,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Earnings of $0.30 per diluted share compared to $0.33","length":53,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Debt-to-book capitalization of 9.5% compared to 0.8% at December 31, 2024","length":73,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Active community count increased 24% to 87 at quarter end","length":57,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Total controlled lots increased 45% to 20,442","length":45,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":464,"olType":false},{"type":"text","content":"Greg Bennett, Vice Chairman and Chief Executive Officer, commented, "Smith Douglas Homes turned in another quarter of strong profitability to start 2025, generating pretax income of $19.6 million, or earnings of $0.30 per diluted share. Home closing revenue grew 19% year-over-year on a similar increase in new home closings, while home closing gross margin came in at 23.8%, which was above our expectations for the quarter. I want to thank our entire team for once again executing with efficiency and precision."","length":524,"tagName":"p"},{"type":"text","content":"Russ Devendorf, Executive Vice President and Chief Financial Officer added, "Order activity improved as the quarter progressed, though I would characterize overall de...