Filing Flows › Green Brick Partners (GRBK) › Q3 2025
Green Brick Partners (GRBK) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
Green Brick Partners (GRBK) reported revenue of $492M for the third quarter 2025 (Q3 2025), -4% from a year earlier and -9% from the quarter before. Operating margin was 21.7%, net earnings $77.9M (15.8% of revenue).
Green Brick Partners, Q3 2025: revenue $492M (-4% year over year), operating margin 21.7%, net earnings $77.9M, operating cash flow −$10.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $492M | -9% | -4% |
| Gross profit | $155M | -7% | -9% |
| Operating profit | $107M | -5% | -10% |
| Net earnings | $77.9M | -5% | -13% |
| Operating cash flow | −$10.2M | -114% | — |
What changed
Revenue was $491.6M in Q3 2025, down 4% year over year and down 9% from the previous quarter.
Gross margin was 31.6%, down 1.7 points from a year earlier. Operating profit was $106.6M, a 21.7% margin (down 1.4 points year over year). Operating expenses fell 7% while revenue fell 4%. Net earnings were $77.9M, down 13% year over year. The effective tax rate was 21.8%.
Operating cash flow was −$10.2M. Non-cash charges added back $1.5M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $96.4M. Capital expenditures of $1.8M exceeded it, leaving free cash flow of −$12.0M.
Questions
What was Green Brick Partners' revenue in the third quarter 2025?
Green Brick Partners (GRBK) reported revenue of $492M for the third quarter 2025 (Q3 2025), -4% from a year earlier and -9% from the quarter before.
Was Green Brick Partners profitable in the third quarter 2025?
Operating profit was $107M (21.7% of revenue) and net earnings $77.9M.