Filing Flows › Smith Douglas Homes (SDHC) › Q2 2025
Smith Douglas Homes (SDHC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Smith Douglas Homes (SDHC) reported revenue of $224M for the second quarter 2025 (Q2 2025), +1% from a year earlier and -0.4% from the quarter before. Operating margin was 7.7%, net earnings $2.4M (1.1% of revenue).
Smith Douglas Homes, Q2 2025: revenue $224M (+1% year over year), operating margin 7.7%, net earnings $2.4M, operating cash flow −$28.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $224M | -0.4% | +1% |
| Gross profit | $51.9M | -3% | -12% |
| Operating profit | $17.2M | -12% | -34% |
| Net earnings | $2.4M | -12% | -35% |
| Operating cash flow | −$28.9M | — | — |
What changed
Revenue was $223.9M in Q2 2025, up 1% year over year and roughly flat from the previous quarter.
Gross margin was 23.2%, down 3.5 points from a year earlier. Operating profit was $17.2M, a 7.7% margin (down 4.0 points year over year). Operating profit fell $8.7M even though revenue rose $3.0M versus a year earlier, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 1%. Net earnings were $2.4M, down 35% year over year. The effective tax rate was 4.3%.
Operating cash flow was −$28.9M. Non-cash charges added back $580K of depreciation and $1.0M of share-based compensation. Working capital and other items used $46.9M. Capital expenditures of $2.1M exceeded it, leaving free cash flow of −$31.1M.
Questions
What was Smith Douglas Homes' revenue in the second quarter 2025?
Smith Douglas Homes (SDHC) reported revenue of $224M for the second quarter 2025 (Q2 2025), +1% from a year earlier and -0.4% from the quarter before.
Was Smith Douglas Homes profitable in the second quarter 2025?
Operating profit was $17.2M (7.7% of revenue) and net earnings $2.4M.