Welcome to our dedicated page for United Homes Group news (Ticker: UHG), a resource for investors and traders seeking the latest updates and insights on United Homes Group stock.
United Homes Group, Inc. (UHG), established in 2011 in Portland, Oregon, has quickly emerged as a dynamic player in the homebuilding industry. Over the years, the company has expanded its reach to 13 states across the United States, significantly growing its operations and customer base. In its inaugural year, United Homes Group sold over 100 homes from a single location. Demonstrating consistent growth, the group closed 486 units last year, showcasing their commitment to providing quality housing solutions.
United Homes Group operates primarily in the Southeast, with notable presence in South Carolina, North Carolina, and Georgia. The company embraces a land-light model, strategically focusing on high-quality, affordable homes for entry-level and first-move-up buyers. This approach allows them to offer competitive pricing while maintaining excellence in construction and design.
The success of United Homes Group can be attributed to its proven models and systems, robust leadership team, and exceptional partners who emphasize both personal and professional growth. These elements combine to create an environment conducive to sustainable success. Whether you are a first-time homebuyer or looking to upgrade, United Homes Group aims to meet your needs with their range of affordable, high-quality homes.
Stay updated with the latest news and developments by following United Homes Group. Recent updates indicate a strong financial condition, numerous ongoing projects, and strategic partnerships that continue to drive the company's growth and innovation in the homebuilding sector.
United Homes Group (NASDAQ: UHG) has announced the pricing of a secondary public offering of 7,420,057 shares of Class A common stock at $5.00 per share. The offering includes shares purchased by the Executive Chairman, Interim CEO, Kennedy Lewis affiliates, and institutional investors. The company will redeem convertible notes in exchange for $70 million plus interest and 10,168,850 shares of Class A common stock. The transaction involves a new $70 million subordinated loan from Kennedy Lewis and other lenders. The offering is expected to close on December 11, 2024. This refinancing aims to simplify the capital structure, increase public float, reduce dilutive impact, and lower annual interest expenses through a transition to floating rate benchmark.
United Homes Group (NASDAQ: UHG) reported Q3 2024 results with revenue of $118.6 million, up 35% year-over-year. The company closed 369 homes, a 30% increase from Q3 2023, with an average sale price of $320,000 for production-built homes. Net new orders increased 25% to 341 compared to 272 in Q3 2023.
The company reported a net loss of $7.3 million, or $0.15 per diluted share, including a $7.8 million change in fair value of derivative liabilities. Gross profit margin decreased to 18.9% from 19.8% in Q3 2023, primarily due to continued homebuyer incentives. The company maintained strong liquidity of $89.0 million, including $25.8 million in cash.
United Homes Group (NASDAQ: UHG) has announced the release date for its third quarter 2024 financial results. The company will disclose the results before the market opens on Friday, November 8, 2024. Following the release, UHG will host a conference call and Q&A session at 8:30 AM Eastern Time on the same day.
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 3685495. A webcast link will be available in the investor relations section of the company's website at www.unitedhomesgroup.com.
For those unable to attend live, a recording will be available. Replay numbers are: Toll Free (North America): (+1) 800-770-2030 and International: (+1) 609-800-9909. The Playback Passcode is 3685495.
United Homes Group (NASDAQ: UHG) reported Q2 2024 results with $109.4 million in revenue from closing 337 homes, averaging $341,000 per home. Net income was $28.6 million ($0.50 per diluted share), influenced by a $32.1 million change in fair value of derivative liabilities. The company had 323 net new home orders, slightly down from 341 in Q2 2023. Gross profit margin decreased to 17.9% from 19.6% due to various costs including acquisitions and workforce reduction.
SG&A expenses were 17.9% of revenues, impacted by stock-based compensation and severance costs. Adjusted EBITDA was $7.7 million, down from $13.1 million in Q2 2023. The company ended Q2 2024 with $80.4 million in liquidity, including $24.9 million in cash.
For the first six months of 2024, revenue was $210.3 million, with net income of $53.6 million ($0.93 per diluted share). Home closings and net new orders declined slightly year-over-year. A conference call for investors will be held on August 8, 2024.
United Homes Group (NASDAQ: UHG) has announced the release date for its second quarter 2024 financial results. The company will disclose the results before the market opens on Thursday, August 8, 2024. Following the release, UHG will host a conference call and Q&A session at 8:30 AM Eastern Time on the same day.
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 3266426. A webcast link will be available in the investor relations section of the company's website at www.unitedhomesgroup.com. For those unable to attend, a recording replay will be accessible using the provided playback numbers and passcode.
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.
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