Filing Flows › Green Brick Partners (GRBK) › Q1 2025
Green Brick Partners (GRBK) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Green Brick Partners (GRBK) reported revenue of $484M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -13% from the quarter before. Operating margin was 21.9%, net earnings $75.1M (15.5% of revenue).
Green Brick Partners, Q1 2025: revenue $484M (+10% year over year), operating margin 21.9%, net earnings $75.1M, operating cash flow $68.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $484M | -13% | +10% |
| Gross profit | $156M | -20% | +5% |
| Operating profit | $106M | -23% | -8% |
| Net earnings | $75.1M | -28% | -10% |
| Operating cash flow | $68.7M | +138% | 68× |
| Free cash flow | $68.0M | +143% | 907× |
What changed
Revenue was $484.5M in Q1 2025, up 10% year over year and down 13% from the previous quarter.
Gross margin was 32.2%, down 1.6 points from a year earlier. Operating profit was $106.1M, a 21.9% margin (down 4.4 points year over year). Operating profit fell $9.5M even though revenue rose $45.3M versus a year earlier, so costs grew faster than sales. Operating expenses grew 52% against revenue growth of 10%. Net earnings were $75.1M, down 10% year over year. The effective tax rate was 20.9%.
Operating cash flow was $68.7M (up 6660% year over year), 82% of net income including minority interests. Non-cash charges added back $1.4M of depreciation and amortization and $8.1M of share-based compensation. Working capital and other items used $24.7M. Capital expenditures of $713K left free cash flow of $68.0M.
Questions
What was Green Brick Partners' revenue in the first quarter 2025?
Green Brick Partners (GRBK) reported revenue of $484M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -13% from the quarter before.
Was Green Brick Partners profitable in the first quarter 2025?
Operating profit was $106M (21.9% of revenue) and net earnings $75.1M.