Green Brick Partners, Inc. (GRBK) Form 10-Q — Oct 28, 2026
Green Brick Partners' Q3 2026 revenue fell 8.8% to $448.2 million and net income dropped to $61.4 million ($1.35 diluted EPS) from $83.4 million ($1.77) a year ago, as homebuilding gross margin compressed 410 bps to 28.0% on elevated incentives and a 12.1% decline in average sales price. Order volume was modestly positive with net new orders up 3.1% to 926, but backlog revenue fell 17.0% to $379.3 million and the cancellation rate rose to 8.2% from 6.7%, signaling affordability pressure ahead. The mix shift toward entry-level Trophy Signature Homes is also diluting price points.
Key figures
- Eps
- 1.35
- Revenue
- 448204000
- Net Income
- 61416000
- Total Debt
- 338016000
- Revenue Yoy
- -8.8% (Q3 total revenues $448.2M vs $491.6M)
- Total Assets
- 2675947000
- Cash Position
- 99970000
- Backlog revenue
- 379345000
- Backlog revenue yoy
- -17.0%
- Repurchases q3 2026
- $17.9M (264,215 shares)
- Cancellation rate q3
- 8.2%
- Net new home orders q3
- 926
- Avg sales price change q3
- -12.1%
- Diluted eps prior year q3
- 1.77
- Homebuilding debt to total cap
- 13.1%
- Remaining buyback authorization
- 132700000
- Residential units gross margin q3 2025
- 32.1%
- Residential units gross margin q3 2026
- 28.0%
AI analysis
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