price up icon10.18%   5.74
pre-market  Pre-market:  63.00   0.86   +1.38%

Why is Green Brick Partners Inc (GRBK) Stock down?

04 Mar, 2024:

Green Brick Partners (GRBK) stock dropped by 5.05% following the announcement of its Full Year 2023 Results. The revenue was reported to grow, however, missed analyst expectations.

  • Key Financial Results: The company reported a revenue of US$1.78 billion, reflecting a 1.1% increase from FY 2022. However, its net income decreased by 1.5% to US$284.6 million. The profit margin remained stable at 16%, in line with FY 2022. Earnings per share (EPS) were reported at US$6.26. Greenbric's revenue falling short by 1.4% and EPS missing estimates by 3.2%.
  • Future Outlook: Looking ahead, Green Brick Partners is forecasted to achieve an average annual revenue growth rate of 7.9% over the next 2 years, outpacing the 5.1% growth forecast for the Consumer Durables industry in the US.
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