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Smith Douglas Homes Corp. (SDHC) is a leading homebuilding company focused on designing, constructing, and selling single-family homes across some of the fastest-growing and most desirable markets in the Southeastern United States. Founded on the principles of quality craftsmanship and customer satisfaction, Smith Douglas Homes has established a strong presence in five key geographical segments: Atlanta, Raleigh, Charlotte, Nashville, and Alabama, which includes Birmingham and Huntsville.
The company’s core business revolves around providing affordable yet high-quality homes that cater to a variety of buyers, from first-time homeowners to those looking for upscale residences. Smith Douglas Homes is known for its efficient building processes, innovative designs, and exceptional customer service, ensuring a seamless home-buying experience for its clients.
Recent achievements include the expansion into new markets and the introduction of several new home models that have been met with positive reception. The company's financial condition remains robust, supported by strategic partnerships and a dedicated team of professionals committed to excellence.
Current projects involve the development of new communities in rapidly growing areas, reflecting the company’s proactive approach to meeting market demand. Smith Douglas Homes continues to invest in land acquisition and development, ensuring a steady pipeline of new projects that align with its growth strategy.
With a focus on sustainability and innovation, Smith Douglas Homes is well positioned to continue its trajectory of success, offering high-quality homes and contributing to the growth of vibrant communities in the Southeastern United States.
Smith Douglas Homes reported strong Q3 2024 results with significant growth across key metrics. Home closings increased 39% to 812 units, while home closing revenue rose 41% to $277.8 million. The company achieved a home closing gross margin of 26.5% and pretax income of $39.6 million, resulting in earnings of $0.58 per diluted share. Active community count grew 19% to 74, and total controlled lots increased 54% to 17,878. The company expanded into Greenville, SC, and continued development in Central Georgia and Chattanooga, TN. Financial position remains robust with $24 million cash, $372 million stockholder's equity, and zero borrowings.
loanDepot (NYSE: LDI) and Smith Douglas Homes (NYSE: SDHC) have announced a new joint venture called Ridgeland Mortgage. The partnership aims to provide streamlined financing options for new home buyers, combining Smith Douglas Homes' expertise in building quality affordable homes with loanDepot's lending platform.
The venture will operate in multiple markets across the Southeast and Southern regions, including Atlanta, Houston, Birmingham, Charlotte, Chattanooga, and Nashville. The collaboration focuses on serving first-time homebuyers while expanding loanDepot's presence in the purchase mortgage market and supporting Smith Douglas Homes' growth strategy.
Smith Douglas Homes Corp. (NYSE: SDHC) has announced its schedule for the release of its third quarter 2024 earnings. The company will disclose its results before the market opens on Tuesday, November 12, 2024. Following the release, Smith Douglas will host a conference call at 8:30 AM Eastern Time on the same day to discuss the results and conduct a question-and-answer session.
Interested parties can participate in the call via phone or webcast. The dial-in numbers are: Toll Free - North America (+1) 800-715-9871 and International: (+1) 646-307-1963. The Conference ID is 8743844. A replay will be available for 7 days after the event, accessible via Toll Free - North America: (+1) 800-770-2030 with Playback Passcode: 8743844.
Smith Douglas Homes Corp. (NYSE: SDHC) reported strong Q2 2024 results, with significant year-over-year growth. Net new orders increased 17% to 715, while home closings rose 17% to 653. Revenue climbed 22% to $220.9 million, with a pre-tax income of $25.9 million and earnings of $0.40 per diluted share. The company's backlog homes increased 19% to 1,173, with a 23% rise in sales value to $404.7 million. Smith Douglas maintained a strong financial position with a debt-to-book capitalization of 1.1% and zero borrowings under its credit facility. The company's active community count grew 70% to 75, while total controlled lots increased 81% to 15,842, demonstrating significant expansion.
Smith Douglas Homes Corp. (NYSE: SDHC) has announced its schedule for the second quarter 2024 earnings release and conference call. The company will release its Q2 2024 results before the market opens on Wednesday, August 14, 2024. A conference call to discuss the results and conduct a Q&A session will be held on the same day at 8:30 AM Eastern Time.
Interested parties can participate in the call via phone or webcast. The toll-free dial-in number for North America is (+1) 800-715-9871, while the international number is (+1) 646-307-1963. The Conference ID is 9762287. A replay will be available for 7 days following the event, accessible via the toll-free North America number (+1) 800-770-2030 with the playback passcode 9762287.
Smith Douglas Homes (NYSE: SDHC) has announced key leadership changes. Eddy Kleid, formerly VP of Finance, will become Division President of the new Central Georgia Division. Eddy has been with the company since 2017 and has played a significant role in their recent IPO. Joe Thomas joins as the new SVP of Accounting & Finance, bringing extensive experience from Bank of America Securities. Joe also contributed to the Smith Douglas IPO and holds degrees from Bucknell and Cornell. CEO Greg Bennett believes these changes will fuel the company’s growth and success.
Smith Douglas Homes (NYSE: SDHC) announced strong Q1 2024 results. Net new orders grew 15% to 765, and home closings rose 13% to 566. Revenue increased 13% to $189.2 million, with pre-tax income reaching $21.4 million. Earnings per diluted share were $0.33. The backlog of homes increased by 19% to 1,110, and the sales value of backlog homes grew 25% to $381.2 million. The company's debt-to-book capitalization stands at 1.3%, with an active community count rising 49% to 70 and total controlled lots up 82% to 14,117.
CEO Greg Bennett highlighted the successful IPO in January and the expansion into Central Georgia and Chattanooga. CFO Russ Devendorf emphasized a strong financial position with nearly $33 million in cash and $333 million in stockholders’ equity, noting zero borrowings under a $250 million unsecured credit facility.
Smith Douglas Homes (NYSE: SDHC) affiliates in Atlanta, GA, Charlotte, NC, and Nashville, TN have been honored with GuildQuality's 2024 Guildmaster Award for exceptional customer service in the residential construction industry. Out of 2,000 applicants, Smith Douglas Homes is among the 400+ businesses recognized for superior customer care. The recognition is based on high recommendation rates from customers surveyed by GuildQuality.
Smith Douglas Homes Corp. (NYSE: SDHC) will release its first-quarter 2024 results on May 14, 2024, followed by a conference call and webcast at 8:30 AM Eastern Time. Interested parties can participate through dial-in numbers or the webcast link on the company's investor relations website.
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