Smith Douglas Homes Reports Full Year 2023 Results
Smith Douglas Homes Corp. (SDHC)
Company Research
Source: Business Wire
ATLANTA--(BUSINESS WIRE)--Smith Douglas Homes Corp. (NYSE: SDHC) (“Smith Douglas” or the “Company”) today announced results for its year ended December 31, 2023.2023 Full Year Results as compared to 2022:Net new orders increased 22.8% to 2,368Backlog homes increased 18.3% to 912Sales value of backlog homes increased 20.1% to $310.7 millionHome closings increased 4.4% to 2,297Revenue increased 1.2% to $764.6 millionNet income of $123.2 million, down 12.3%Debt-to-book capitalization of 26.6%Net-debt-to-net book capitalization of 21.1%1The Company had 69 active communities on December 31, 2023, compared to 53 a year prior. The cancellation rate was 10.5% for 2023 versus 10.9% for 2022.Greg Bennett, Vice Chairman and Chief Executive Officer, commented, “We are excited to begin life as a public company after executing on our highly successful IPO in January and raising over $125 million in primary net proceeds. The demand we saw from investors was humbling and clearly reflective of the
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SDHC
News
- Smith Douglas Homes Recognized Among the Top Customer Service Leaders in the Residential Construction IndustryBusiness Wire
- Smith Douglas Homes Schedules First Quarter 2024 Earnings Call and WebcastBusiness Wire
- Smith Douglas Homes Corp. (NYSE: SDHC) had its price target raised by analysts at Wells Fargo & Company from $25.00 to $30.00. They now have an "equal weight" rating on the stock.MarketBeat
- Smith Douglas Homes Corp. (NYSE: SDHC) had its "sector perform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $26.00 price target on the stock.MarketBeat
- Smith Douglas Homes Corp. (NYSE:SDHC) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
SDHC
Sec Filings
- 4/1/24 - Form 10-K
- 3/25/24 - Form 8-K
- SDHC's page on the SEC website