PLANO, TEXAS, November 1st, 2021 – Green Brick Partners, Inc. (Nasdaq: GRBK) (the “Company” or “Green Brick”), a national homebuilding company, is pleased to announce that it has been named to Fortune’s 2021 list of 100 Fastest Growing Companies for the third consecutive year.
To qualify for the list, companies must meet a rigorous set of qualifying factors and are then ranked by revenue growth rate, EPS (earnings per share) growth rate, and three-year annualized total return for the period ended June 30, 2021. Overall rankings are then determined based on the sum of the three rankings.
“We are incredibly proud to be recognized by Fortune as a top 20 fastest growing company, and the number one fastest growing public homebuilder in the United States,” said Jim Brickman, Chief Executive Officer and co-founder of Green Brick Partners. “Ranking for the third year in a row amongst this esteemed group of honorees demonstrates the strength of our value proposition as we have been able to provide industry-leading risk-adjusted returns for our investors and homes of unmatched quality and design to our homebuyers.”
The honor was awarded to Green Brick due in part to a 3-year annual revenue growth rate of 28% and a 3-year EPS annual growth rate of 80%. The company’s strong performance enabled it to climb 36 spots from its 2020 rank to finish 19th overall. By operating only in the best markets in the country this remarkable growth was achieved organically, without any acquisitions.
“Our industry-leading land and lot position growth coupled with unprecedented demand for new homes over the past year has positioned us to achieve significant growth in 2022 and beyond,” said Jed Dolson, Chief Operating Officer and Executive Vice President of Green Brick Partners. “We are honored that these accomplishments are being recognized by Fortune, and are grateful to our shareholders for their continued trust in our vision for growth.”
The company intends to announce its third quarter 2021 results on November 2nd, 2021, and will host an earnings conference call at 12:00 pm Eastern Time on Wednesday, November 3rd, 2021. The call can be accessed by dialing 877-407-0890 for domestic participants or 201-389-0918 for international participants and should reference meeting number 13724238. Participants may also join the call via webcast at: greenbrickpartners.com/reporting/.
About Green Brick Partners, Inc.
Green Brick Partners, Inc. is a diversified homebuilding and land development company. Green Brick owns five subsidiary homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado, and retains interests in related financial services platforms, including Green Brick Title, Green Brick Mortgage, and BHome Mortgage. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master-planned communities. For more information about Green Brick Partners Inc.’s subsidiary homebuilders, please visit greenbrickpartners.com/homebuilders.
Forward Looking Statements:
This press release and our earnings call contain “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words “anticipate,” “believe,” “consider,” “estimate,” “expect,” “feel,” “intend,” “plan,” “predict,” “seek,” “strategy,” “target,” “will” or other words of similar meaning. Forward-looking statements in this press release include statements regarding (i) our belief regarding the strength of our value proposition for investors and (2) our belief that our land and lot position growth coupled with unprecedented demand for new homes over the past year has positioned us to achieve significant growth in 2022 and beyond. These forward-looking statements reflect our current views about future events and involve estimates and assumptions which may be affected by risks and uncertainties in our business, as well as other external factors, which could cause future results to materially differ from those expressed or implied in any forward-looking statement. These risks include, but are not limited to: (1) continuing impacts from the COVID-19 pandemic, (2) general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; (3) changes in macroeconomic conditions, including interest rates and unemployment rates, that could adversely impact demand for new homes or the ability of potential buyers to qualify; (4) shortages, delays or increased costs of raw materials, especially in light of COVID-19 and increased demand for materials, or increases in other operating costs, including costs related to labor, real estate taxes and insurance, which in each case exceed our ability to increase prices; (5) a shortage of labor, (6) an inability to acquire land in our markets at anticipated prices or difficulty in obtaining land-use entitlements; (7) our inability to successfully execute our strategies, including an inability to grow our operations or expand our Trophy brand; (8) a failure to recruit, retain or develop highly skilled and competent employees; (9) government regulation risks; (10) a lack of availability or volatility of mortgage financing or a rise in interest rates; (11) severe weather events or natural disasters; (12) difficulty in obtaining sufficient capital to fund our growth; (13) our ability to meet our debt service obligations; (14) a decline in the value of our inventories and resulting write-downs of the carrying value of our real estate assets; (15) changes in accounting standards that adversely affect our reported earnings or financial condition. For a more detailed discussion of these and other risks and uncertainties applicable to Green Brick please see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.
Director of Marketing
Image courtesy of Fortune Magazine, 2021.