United Homes Group Inc (OQ:UHG)
Business Focus: Residential Builders - Multifamily Homes
| Sector: Consumer Cyclicals | Industry: Homebuilding |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 917 Chapin Road CHAPIN SC 29036 |
| Tel: | N/A |
| Website: | https://www.diamondheadholdings.com |
| IR: | See website |
| Key People | ||
| Michael Nieri Chairman of the Board, Chief Executive Officer | Clive R. G. O'Grady Chief Administrative Officer, Director | John G. Micenko President |
| Keith A. Feldman Chief Financial Officer | Shelton Twine Chief Operating Officer | Dan Goldstein Executive Vice President - Finance |
| Steve Lenker Executive Vice President, General Counsel, Corporate Secretary | Robert Penny Executive Vice President - Sales | Pennington Nieri Co-Executive Vice President - Construction Services | Jeremy Pyle Co-Executive Vice President - Construction Services |
| Business Overview |
| United Homes Group, Inc. is a residential builder. The Company designs, builds and sells homes in high growth markets, including South Carolina, North Carolina, and Georgia. It has 63 active communities. UHG principally builds detached single-family houses, and, to a lesser extent, attached single-family houses, including duplex houses and town houses. The Company operates through two segments: South Carolina and Other. South Carolina segment consists primarily of the Company's homebuilding operations in South Carolina and a small amount of operations in Georgia. Other segment consists of homebuilding operations in Raleigh, NC, as well as the Company's mortgage banking joint venture. It leases local offices in Myrtle Beach, South Carolina, Mauldin, South Carolina and Raleigh, North Carolina. The Company has delivered approximately 14,000 homes. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, United Homes Group Inc revenues decreased 12% to $421.5M. Net income increased 80% to $125.1M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income reflects Other income, net - Balancing value increase from $173K (expense) to $1.3M (income), Equity in net earnings from investment i increase from $137K to $1.2M (income). |
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