PLANO, Texas, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Green Brick Partners, Inc. (Nasdaq: GRBK) (“Green Brick”) is pleased to announce that it has been named to Fortune’s 2020 list of 100 Fastest Growing Companies in the world for the second 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, 2020. Overall rankings are then determined based on the sum of the three rankings.
The prestigious honor was awarded to Green Brick due in part to a 3-year annual revenue growth rate of 27%, placing the company 55th overall, up from 93rd place in 2019. The company also reported a 40% EPS 3-year annual growth rate.
“We are exceedingly pleased to be included in Fortune’s list for the second year in a row,” said Jim Brickman, Chief Executive Officer and co-founder of Green Brick Partners. “We are seeing unprecedented demand for our homes as many people adapt to a post-COVID lifestyle. Our neighborhoods offer homes with floorplans designed to meet these evolving needs including ample outdoor space and separate home offices, at reasonable price points in some of the best and most diversified growth markets in the country.”
With demand for new homes at the highest levels in more than a decade, Green Brick has successfully continued to expand its community count, growing 18% from the prior year.
“Green Brick still has a long pathway towards future growth,” said Jed Dolson, Chief Operating Officer and Executive Vice President of Green Brick Partners. “With our dramatic growth in lots owned and controlled and record starts of over 700 units in Q3 2020, we are confident that we have the necessary inventory levels to achieve significant growth in 2021 and beyond.”
The company recently announced its record third quarter 2020 results, which included quarterly basic earnings per share of $0.69, an increase of 122.6% over the prior year. For more information on Green Brick Partners, please visit www.greenbrickpartners.com.
About Green Brick Partners
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified homebuilding and land development company. Green Brick owns five homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes), as well as a controlling interest in homebuilders in Atlanta, Georgia (The Providence Group), Port St. Lucie, Florida (GHO Homes), and Dallas, Texas (Centre Living 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, Providence Group Title, BHome Mortgage, and Green Brick 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 homebuilding partners, please visit https://greenbrickpartners.com/team-builders/.
Forward-Looking and Cautionary Statements
Any statements in this press release about Green Brick’s expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance that are not historical facts are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “should,” “predicts,” “potential,” “expects,” “future,” “positioned,” “believes,” “projects,” “estimates” and similar expressions, as well as statements in the future tense. These statements are based on assumptions that Green Brick has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances, as of the date of this press release. All such forward-looking statements involve estimates and assumptions that are subject to factors that could cause actual results to differ materially from the results expressed in the statements, and you should not place undue reliance on any such forward-looking statements. Among the factors that could cause actual results to differ materially are the following: general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; the failure to recruit, retain and develop highly skills and competent employees; management and integration of acquisitions; labor and raw material shortages; an inability to acquire land for reasonable prices; an inability to develop and sell communities; government regulation risks; mortgage financing availability and volatility; severe weather or natural disasters; difficulty in obtaining sufficient capital; poor relations with community residents; and our debt and related service obligations. Additional factors that could cause actual results to differ are discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s annual and quarterly reports filed with the Securities and Exchange Commission. Green Brick undertakes no obligation to update any forward-looking statement except as required by law.
Contact: Shalott Cecchini
Director of Marketing
Green Brick Partners