Filing Flows › Green Brick Partners (GRBK) › Q2 2025
Green Brick Partners (GRBK) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Green Brick Partners (GRBK) reported revenue of $541M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +12% from the quarter before. Operating margin was 20.8%, net earnings $81.9M (15.2% of revenue).
Green Brick Partners, Q2 2025: revenue $541M (-2% year over year), operating margin 20.8%, net earnings $81.9M, operating cash flow $74.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $541M | +12% | -2% |
| Gross profit | $168M | +8% | -12% |
| Operating profit | $112M | +6% | -19% |
| Net earnings | $81.9M | +9% | -22% |
| Operating cash flow | $74.7M | +9% | 35× |
| Free cash flow | $74.0M | +9% | 95× |
What changed
Revenue was $540.9M in Q2 2025, down 2% year over year and up 12% from the previous quarter.
Gross margin was 31.0%, down 3.4 points from a year earlier. Operating profit was $112.3M, a 20.8% margin (down 4.4 points year over year). Operating expenses grew 9% against a revenue fall of 2%. Net earnings were $81.9M, down 22% year over year. The effective tax rate was 20.4%.
Operating cash flow was $74.7M (up 3356% year over year), 84% of net income including minority interests. Non-cash charges added back $1.1M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $17.1M. Capital expenditures of $687K left free cash flow of $74.0M.
Questions
What was Green Brick Partners' revenue in the second quarter 2025?
Green Brick Partners (GRBK) reported revenue of $541M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +12% from the quarter before.
Was Green Brick Partners profitable in the second quarter 2025?
Operating profit was $112M (20.8% of revenue) and net earnings $81.9M.