Green Brick Partners Named to Fortune’s Annual 100 Fastest Growing Companies List
November 05 2020 - 5:43PM
Green Brick Partners, Inc. (Nasdaq: GRBK) (“Green Brick”) is
pleased to announce that it has been named to Fortune’s 2020 list
of 100 Fastest Growing Companies in the world for the second
consecutive year.
To qualify for the list, companies must meet a
rigorous set of qualifying factors and are then ranked by revenue
growth rate, EPS (earnings per share) growth rate, and
three-year annualized total return for the period ended June 30,
2020. Overall rankings are then determined based on the sum of
the three rankings.
The prestigious honor was awarded to Green Brick
due in part to a 3-year annual revenue growth rate of 27%, placing
the company 55th overall, up from 93rd place in 2019. The company
also reported a 40% EPS 3-year annual growth rate.
“We are exceedingly pleased to be included in
Fortune’s list for the second year in a row,” said Jim Brickman,
Chief Executive Officer and co-founder of Green Brick Partners. “We
are seeing unprecedented demand for our homes as many people adapt
to a post-COVID lifestyle. Our neighborhoods offer homes with
floorplans designed to meet these evolving needs including ample
outdoor space and separate home offices, at reasonable price points
in some of the best and most diversified growth markets in the
country.”
With demand for new homes at the highest levels
in more than a decade, Green Brick has successfully continued to
expand its community count, growing 18% from the prior year.
“Green Brick still has a long pathway towards
future growth,” said Jed Dolson, Chief Operating Officer and
Executive Vice President of Green Brick Partners. “With our
dramatic growth in lots owned and controlled and record starts of
over 700 units in Q3 2020, we are confident that we have the
necessary inventory levels to achieve significant growth in 2021
and beyond.”
The company recently announced its record third
quarter 2020 results, which included quarterly basic earnings per
share of $0.69, an increase of 122.6% over the prior year. For more
information on Green Brick Partners, please visit
www.greenbrickpartners.com.
About Green Brick Partners
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified
homebuilding and land development company. Green Brick owns five
homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes,
Southgate Homes, Trophy Signature Homes), as well as a controlling
interest in homebuilders in Atlanta, Georgia (The Providence
Group), Port St. Lucie, Florida (GHO Homes), and Dallas, Texas
(Centre Living Homes). Green Brick also owns a noncontrolling
interest in Challenger Homes in Colorado Springs, Colorado and
retains interests in related financial services platforms,
including Green Brick Title, Providence Group Title, BHome
Mortgage, and Green Brick Mortgage. The Company is engaged in all
aspects of the homebuilding process, including land acquisition and
development, entitlements, design, construction, marketing, and
sales for its residential neighborhoods and master planned
communities. For more information about Green Brick Partners Inc.’s
homebuilding partners, please visit
https://greenbrickpartners.com/team-builders/.
Forward-Looking and Cautionary
StatementsAny statements in this press release about Green
Brick’s expectations, beliefs, plans, objectives, prospects,
financial condition, assumptions or future events or performance
that are not historical facts are forward-looking statements. These
statements are often, but not always, made through the use of words
or phrases such as “may,” “will,” “should,” “predicts,”
“potential,” “expects,” “future,” “positioned,” “believes,”
“projects,” “estimates” and similar expressions, as well as
statements in the future tense. These statements are based on
assumptions that Green Brick has made in light of its experience in
the industry as well as its perceptions of historical trends,
current conditions, expected future developments and other factors
it believes are appropriate under the circumstances, as of the date
of this press release. All such forward-looking statements involve
estimates and assumptions that are subject to factors that could
cause actual results to differ materially from the results
expressed in the statements, and you should not place undue
reliance on any such forward-looking statements. Among the factors
that could cause actual results to differ materially are the
following: general economic conditions, seasonality, cyclicality
and competition in the homebuilding industry; the failure to
recruit, retain and develop highly skills and competent employees;
management and integration of acquisitions; labor and raw material
shortages; an inability to acquire land for reasonable prices; an
inability to develop and sell communities; government regulation
risks; mortgage financing availability and volatility; severe
weather or natural disasters; difficulty in obtaining sufficient
capital; poor relations with community residents; and our debt and
related service obligations. Additional factors that could cause
actual results to differ are discussed in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in the Company’s annual and quarterly
reports filed with the Securities and Exchange Commission. Green
Brick undertakes no obligation to update any forward-looking
statement except as required by law.
Contact: Shalott CecchiniDirector of MarketingGreen Brick
Partnersscecchini@greenbrickpartners.comwww.greenbrickpartners.com
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