Sector: Consumer Cyclicals | Industry: Homebuilding |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 110 Village Trail, Suite 215 WOODSTOCK GA 30188 |
Tel: | N/A |
Website: | https://www.smithdouglas.com |
IR: | See website |
Key People | ||
Thomas L. Bradbury Executive Chairman of the Board | Gregory S. Bennett President, Chief Executive Officer, Vice Chairman of the Board | Russell Devendorf Chief Financial Officer, Executive Vice President | Brett A. Steele Vice President, General Counsel, Secretary |
Business Overview |
Smith Douglas Homes Corp. is a holding company. The Company is a private home builder engaged in the design, construction, and sale of single-family homes in communities in certain markets in the southeastern United States. The Company operates through six segments: Alabama, Atlanta, Charlotte, Houston, Nashville, and Raleigh. The Company operates a land-light business model whereby the Company typically purchases finished lots via lot-option contracts from various third-party land developers or land bankers. It designs, sell, and builds a range of single-family homes in each of its markets, with a core focus on the entry-level and empty-nest homebuyer segments. It also offers a variety of floor plans ranging from 1,100 square feet to over 3,000 square feet. It also offers title insurance services. Its plan library includes open-concept homes with single-level living, modern villas, and townhomes, and functional two and three-story homes, with extra space for conveniences. |
Financial Overview |
For the three months ended 31 March 2024, Smith Douglas Homes Corp revenues increased 13% to $189.2M. Net income decreased 90% to $3M. Revenues reflect Houston segment increase from $0K to $24M, Alabama segment increase of 65% to $39.7M. Net income was offset by Selling, general and administrative cost increase of 40% to $26.2M (expense), Interest expense increase from $245K to $698K (expense). |