Smith Douglas Homes Reports First Quarter 2026 Results

Smith Douglas Homes reported Q1 revenue of $206.4 million, down 8% year-over-year, with diluted EPS collapsing to $0.06 from $0.30 in the prior year. The decline was driven by home closing gross margin contraction to 19.6% from 23.8%, though pretax income fell to $4.3 million. Despite the profitability squeeze, demand improved as the quarter progressed, with net new orders surging 28% to 981 and backlog increasing 10% to 869 homes. The company also expanded its active community count by 24% to 108, positioning for future growth.

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