Filing Flows › Smith Douglas Homes (SDHC) › Q1 2026
Smith Douglas Homes (SDHC) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Smith Douglas Homes (SDHC) reported revenue of $206M for the first quarter 2026 (Q1 2026), -8% from a year earlier and -21% from the quarter before. Operating margin was 2.1%, net earnings $565K (0.3% of revenue).
Smith Douglas Homes, Q1 2026: revenue $206M (-8% year over year), operating margin 2.1%, net earnings $565K, operating cash flow $338K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $206M | -21% | -8% |
| Gross profit | $40.5M | -22% | -24% |
| Operating profit | $4.3M | -74% | -78% |
| Net earnings | $565K | -84% | -79% |
| Operating cash flow | $338K | -97% | — |
What changed
Revenue was $206.4M in Q1 2026, down 8% year over year and down 21% from the previous quarter.
Gross margin was 19.6%, down 4.2 points from Q1 2025. Operating profit was $4.3M, a 2.1% margin (down 6.6 points year over year). Operating expenses grew 6% against a revenue fall of 8%. Net earnings were $565K, down 79% year over year. The effective tax rate was 5.9%.
Operating cash flow was $338K, 8% of net income including minority interests. Non-cash charges added back $857K of depreciation and $1.2M of share-based compensation. Working capital and other items used $5.7M. Capital expenditures of $540K exceeded it, leaving free cash flow of −$202K.
Questions
What was Smith Douglas Homes' revenue in the first quarter 2026?
Smith Douglas Homes (SDHC) reported revenue of $206M for the first quarter 2026 (Q1 2026), -8% from a year earlier and -21% from the quarter before.
Was Smith Douglas Homes profitable in the first quarter 2026?
Operating profit was $4.3M (2.1% of revenue) and net earnings $565K.