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United Homes Group (NASDAQ: UHG) announced a correction regarding the timing of their first quarter 2024 earnings call, now scheduled for Friday, May 10, at 8:30 AM Eastern Time instead of 8:00 AM as previously stated. This adjustment aims to provide accurate information to investors and stakeholders.
United Homes Group, Inc. reported their first quarter 2024 results, showing 311 homes closed with revenue of $100.8 million, an ASP of $335,000 for production-built homes, 384 net new home orders, 63 active communities, and liquidity of $92.0 million. They expanded in the Myrtle Beach market and entered into an agreement for a land fund of up to $150 million. Net income for Q1 2024 was $24.9 million, adjusted book value was $87.2 million. Revenues were $100.8 million, with 311 home closings and 384 net new home orders. ASP of production-built homes increased by 6.7% compared to Q1 2023. Gross profit percentage decreased to 16.0% due to interest rate market conditions. SG&A expenses were 16.9% of revenues, with Adjusted SG&A at 14.2%. Adjusted EBITDA was $7.3 million. The acquisition of Creekside Custom Homes, for $12.7 million expanded UHG's presence in coastal South Carolina.
United Homes Group (NASDAQ: UHG) will release its first quarter 2024 results on May 10, 2024. A conference call will be held on the same day to discuss the results. Interested parties can access the call via phone or webcast.