Form 8-K - Current report

0001373670false00013736702024-10-302024-10-300001373670us-gaap:CommonStockMember2024-10-302024-10-300001373670us-gaap:SeriesAPreferredStockMember2024-10-302024-10-30

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________

FORM 8-K

___________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 30, 2024

Green Brick Partners, Inc.

(Exact name of registrant as specified in its charter)

Delaware															001-33530						20-5952523
(State or other jurisdiction of incorporation)															(Commission File Number)						(IRS Employer Identification Number)
5501 Headquarters Drive			,			Ste 300W
Plano			,			TX			75024						(469)						573-6755
(Address of principal executive offices, including Zip Code)															(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report) Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, par value $0.01 per share			GRBK			The New York Stock Exchange
Depositary Shares (each representing a 1/1000th interest in a share of 5.75% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share)			GRBK PRA			The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

---

Item 2.02 Results of Operations and Financial Condition.

On October 30, 2024, Green Brick Partners, Inc. (the “Company”) issued a press release announcing its financial and operational results for the third quarter ended September 30, 2024. A copy of the press release is furnished as Exhibit 99 to this report.

Item 8.01 Other Events.

The Company announced today that on December 13, 2024 holders of record as of December 1, 2024 (the “Record Date”) of its depositary shares (the “Series A Depositary Shares” (NYSE:GRBK.PRA)), each representing a 1/1,000th interest in a share of its 5.75% Series A Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”) will receive a quarterly dividend in the amount of $359.38 per share of Series A Preferred Stock (equivalent to $0.35938 per Series A Depositary Share), which will cover the period from, and including, September 15, 2024 through, but not including December 15, 2024. The dividend represents dividends at the rate of 5.75% of the $25,000.00 liquidation preference per share (equivalent to $25.00 per depositary share) per year (equivalent to $1,437.50 per share per year or $1.4375 per Series A Depositary Share per year).

Item 9.01 Financial Statements and Exhibits.

(d)     Exhibits

Exhibit No.			Description of Exhibit
99			Press Release dated October 30, 2024
104			Cover Page Interactive Data File (embedded within the Inline XBRL document).

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                

GREEN BRICK PARTNERS, INC.
By:			/s/ Richard A. Costello
Name:			Richard A. Costello
Title:			Chief Financial Officer

Date:    October 30, 2024

Exhibit 99

GREEN BRICK PARTNERS, INC. REPORTS RECORD THIRD QUARTER 2024 RESULTS

HOME CLOSINGS REVENUE OF $523M, A RECORD FOR ANY THIRD QUARTER, UP 25.7% YOY

DILUTED EPS OF $1.98, A RECORD FOR ANY THIRD QUARTER, UP 26.9% YOY

NET NEW HOME ORDERS OF 877, A RECORD FOR ANY THIRD QUARTER, UP 11.3% YOY

DEBT TO TOTAL CAPITAL OF 16.4%; NET DEBT TO TOTAL CAPITAL OF 12.5%

PLANO, Texas, October 30, 2024 — Green Brick Partners, Inc. (NYSE: GRBK) (“we,” “Green Brick” or the “Company”), today reported record results for its third quarter ended September 30, 2024.

“We are pleased to report that we completed our best third quarter in history, highlighted by 25.7% home closings revenues growth year-over-year. During the third quarter, we delivered 956 homes with an average selling price of $546,900, bringing total home closings revenues to $522.9 million. We continued to generate an industry-leading homebuilding gross margin of 32.7%. As a result, diluted EPS increased 27% year-over-year to $1.98 per share, a record for any third quarter. Our year-to-date diluted EPS of $6.12 is up 34.5% year-over year, another record for the company for any year-to-date period through the third quarter,” said Jim Brickman, CEO and Co-Founder.

“Net new orders in the third quarter picked up from the previous quarter and grew 11.3% year-over-year to 877 units,” continued Mr. Brickman. “We were pleased to see a rebound of traffic in September, particularly with Trophy Signature Homes (“Trophy”). Trophy’s net sales represented 52% of the total sales in third quarter vs 41% in the third quarter last year. This growth is a reflection of larger communities in which Trophy was selling in the third quarter and its growth in year-to-date starts, which have increased from 44% of Green Brick’s total starts through September 2023 to 50% of overall starts in 2024. We believe the demographic shifts and housing supply shortage will continue to bolster the industry, especially in our markets, over the long term and are confident Green Brick is well poised to capitalize on pent-up housing demand and industry tailwinds.”

Mr. Brickman added, “We expect to achieve record revenue for fiscal year 2024. This is a testament to our team and their operational effectiveness both currently and for the years prior as we have built out Green Brick’s foundation, including, at its core, our dedicated, experienced, and skilled employees. This is particularly rewarding as we celebrate the 10th anniversary of Green Brick as a public homebuilding company on October 27th. Reflecting the strength of our team, our active selling communities and homes under construction as of the end of the third quarter are up year-over-year 23% and 21%, respectively. We believe our superior land and lot positions will continue to serve as the springboard for our growth. Over 80% of our revenue year-to-date was generated in infill and infill adjacent submarkets where supply is more limited. Our year-to-date homebuilding gross margin of 33.6% is up 290 bps and reflects a record for any year in our history through the third quarter. With the ability to self-develop our lots, we expect finished lot costs as a percentage of home closings revenue to remain essentially flat for 2024 and 2025.”

“Green Brick’s distinctive business model and strategy have yielded impressive results over the past decade. This has translated into exceptional returns for our stockholders, even while carrying land and lots on our balance sheet. Our year-to-date return on equity is 27.0%. This success is underpinned by our conservative balance sheet and financial discipline,” concluded Mr. Brickman. “At the end of the third quarter, our net debt to total capital ratio was 12.5% and our total debt to total capital ratio was only 16.4% with a weighted average pay rate of 3.4%. As we look ahead to the next decade, we remain committed to investing in our business and people to strengthen our platform and propel our growth.”

Results for the Quarter Ended September 30, 2024:

(Dollars in thousands, except per share data)			Three Months Ended September 30,
			2024						2023						Change
New homes delivered			956						754						26.8		%
Total revenues			$	523,660					$	418,978					25.0		%
Total cost of revenues			352,097						279,965						25.8		%
Total gross profit			$	171,563					$	139,013					23.4		%

1

---

Income before income taxes			$	118,976					$	98,086					21.3		%
Net income attributable to Green Brick Partners, Inc.			$	89,111					$	72,156					23.5		%
Diluted net income attributable to Green Brick Partners, Inc. per common share			$	1.98					$	1.56					26.9		%
Residential units revenue			$	522,859					$	415,923					25.7		%
Average sales price of homes delivered			$	546.9					$	551.5					(0.8)		%
Homebuilding gross margin percentage			32.7		%				33.3		%				-60 bps
Selling, general and administrative expenses as a percentage of residential units revenue			11.0		%				11.3		%				-30 bps
Backlog revenue			$	581,848					$	622,560					$	(40,712)
Homes under construction			2,330						1,934						20.5		%

Results for the Nine Months Ended September 30, 2024:

(Dollars in thousands, except per share data)			Nine Months Ended September 30,
			2024						2023						Change
New homes delivered			2,764						2,298						20.3		%
Total revenues			$	1,531,629					$	1,327,328					15.4		%
Total cost of revenues			1,022,143						920,774						11.0		%
Total gross profit			$	509,486					$	406,554					25.3		%
Income before income taxes			$	373,786					$	289,470					29.1		%
Net income attributable to Green Brick Partners, Inc.			$	277,770					$	211,606					31.3		%
Diluted net income attributable to Green Brick Partners, Inc. per common share			$	6.12					$	4.55					34.5		%
Residential units revenue			$	1,513,281					$	1,320,730					14.6		%
Average sales price of homes delivered			$	547.4					$	574.1					(4.7)		%
Homebuilding gross margin percentage			33.6		%				30.7		%				290 bps
Selling, general and administrative expenses as a percentage of residential units revenue			11.0		%				10.8		%				20 bps

Earnings Conference Call:

We will host our earnings conference call to discuss our third quarter ended September 30, 2024 at 12:00 p.m. Eastern Time on Thursday, October 31, 2024. The call can be accessed by dialing 1-888-660-6353 for domestic participants or 1-929-203-2106 for international participants and should reference meeting number 3162560. Participants may also join the call via webcast at: https://events.q4inc.com/attendee/478287045

A telephone replay of the call will be available through November 30, 2024. To access the telephone replay, the domestic dial-in number is 1-800-770-2030, the international dial-in number is 1-609-800-9909 and the access code is 3162560, or by using the link at investors.greenbrickpartners.com.

2

---

GREEN BRICK PARTNERS, INC.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

(Unaudited)

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Residential units revenue						$	522,859					$	415,923					$	1,513,281					$	1,320,730
Land and lots revenue						801						3,055						18,348						6,598
Total revenues						523,660						418,978						1,531,629						1,327,328
Cost of residential units						351,666						277,446						1,005,162						915,600
Cost of land and lots						431						2,519						16,981						5,174
Total cost of revenues						352,097						279,965						1,022,143						920,774
Total gross profit						171,563						139,013						509,486						406,554
Selling, general and administrative expenses						(57,740)						(46,884)						(165,912)						(142,058)
Equity in income of unconsolidated entities						992						1,345						4,770						11,265
Other income, net						4,161						4,612						25,442						13,709
Income before income taxes						118,976						98,086						373,786						289,470
Income tax expense						23,078						20,975						71,816						63,154
Net income						95,898						77,111						301,970						226,316
Net income attributable to noncontrolling interests						6,787						4,955						24,200						14,710
Net income attributable to Green Brick Partners, Inc.						$	89,111					$	72,156					$	277,770					$	211,606
Net income attributable to Green Brick Partners, Inc. per common share:
Basic						$	1.99					$	1.58					$	6.18					$	4.60
Diluted						$	1.98					$	1.56					$	6.12					$	4.55
Weighted average common shares used in the calculation of net income attributable to Green Brick Partners, Inc. per common share:
Basic						44,457						45,320						44,614						45,543
Diluted						44,530						45,792						45,019						45,988

3

---

GREEN BRICK PARTNERS, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

(Unaudited)

			September 30, 2024						December 31, 2023
ASSETS
Cash and cash equivalents			$	80,069					$	179,756
Restricted cash			24,579						19,703
Receivables			11,329						10,632
Inventory			1,918,046						1,533,223
Investments in unconsolidated entities			59,356						84,654
Right-of-use assets - operating leases			7,535						7,255
Property and equipment, net			6,901						7,054
Earnest money deposits			13,869						16,619
Deferred income tax assets, net			15,307						15,306
Intangible assets, net			303						367
Goodwill			680						680
Other assets			34,096						27,583
Total assets			$	2,172,070					$	1,902,832
LIABILITIES AND EQUITY
Liabilities:
Accounts payable			$	67,346					$	54,321
Accrued expenses			165,900						96,457
Customer and builder deposits			45,065						43,148
Lease liabilities - operating leases			8,600						7,898
Borrowings on lines of credit, net			(1,718)						(2,328)
Senior unsecured notes, net			298,994						336,207
Notes payable			—						12,981
Total liabilities			584,187						548,684
Commitments and contingencies
Redeemable noncontrolling interest in equity of consolidated subsidiary			42,841						36,135
Equity:
Green Brick Partners, Inc. stockholders’ equity
Preferred stock, $0.01 par value: 5,000,000 shares authorized; 2,000 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively			47,603						47,603
Common stock, $0.01 par value: 100,000,000 shares authorized; 44,498,248 issued and outstanding as of September 30, 2024 and 45,005,175 issued and outstanding as of December 31, 2023, respectively			445						450
Additional paid-in capital			243,199						255,614
Retained earnings			1,229,490						997,037
Total Green Brick Partners, Inc. stockholders’ equity			1,520,737						1,300,704
Noncontrolling interests			24,305						17,309
Total equity			1,545,042						1,318,013
Total liabilities and equity			$	2,172,070					$	1,902,832

4

---

GREEN BRICK PARTNERS, INC.

SUPPLEMENTAL INFORMATION

(Unaudited)

Residential Units Revenue and New Homes Delivered (dollars in thousands)						Three Months Ended September 30,																								Nine Months Ended September 30,
						2024						2023						Change						%						2024						2023						Change						%
Home closings revenue						$	522,859					$	415,827					$	107,032					25.7%						$	1,512,901					$	1,319,393					$	193,508					14.7		%
Mechanic’s lien contracts revenue						—						96						(96)						(100.0)%						380						1,337						(957)						(71.6)		%
Residential units revenue						$	522,859					$	415,923					$	106,936					25.7%						$	1,513,281					$	1,320,730					$	192,551					14.6		%
New homes delivered						956						754						202						26.8%						2,764						2,298						466						20.3		%
Average sales price of homes delivered						$	546.9					$	551.5					$	(4.6)					(0.8)%						$	547.4					$	574.1					$	(26.7)					(4.7)		%

Land and Lots Revenue (dollars in thousands)						Three Months Ended September 30,																								Nine Months Ended September 30,
						2024						2023						Change						%						2024						2023						Change						%
Lots revenue						$	800					$	2,026					$	(1,226)					(60.5)%						$	5,644					$	5,569					$	75					1.3		%
Land revenue						1						1,029						(1,028)						(99.9)%						12,704						1,029						11,675						1,134.6		%
Land and lots revenue						$	801					$	3,055					$	(2,254)					(73.8)%						$	18,348					$	6,598					$	11,750					178.1		%
Lots closed						8						19						(11)						(57.9)%						79						55						24						43.6		%
Average sales price of lots closed						$	100.0					$	106.6					$	(6.6)					(6.2)%						$	71.4					$	101.3					$	(29.9)					(29.5)		%

New Home Orders and Backlog (dollars in thousands)						Three Months Ended September 30,																								Nine Months Ended September 30,
						2024						2023						Change						%						2024						2023						Change						%
Net new home orders						877						788						89						11.3%						2,803						2,677						126						4.7		%
Revenue from net new home orders						$	454,358					$	452,436					$	1,922					0.4%						$	1,539,549					$	1,572,859					$	(33,310)					(2.1)%
Average selling price of net new home orders						$	518.1					$	574.2					$	(56.1)					(9.8)%						$	549.3					$	587.5					$	(38.2)					(6.5)%
Cancellation rate						8.5		%				6.1		%				2.4		%				39.3%						7.1		%				6.5		%				0.6		%				9.2		%
Absorption rate per average active selling community per quarter						8.4						9.2						(0.8)						(8.7)%						9.3						10.8						(1.5)						(13.9)		%
Average active selling communities						105						86						19						22.1%						100						83						17						20.5		%
Active selling communities at end of period						106						86						20						23.3%
Backlog revenue						$	581,848					$	622,560					$	(40,712)					(6.5)%
Backlog units						809						916						(107)						(11.7)%
Average sales price of backlog						$	719.2					$	679.7					$	39.5					5.8%

5

---

GREEN BRICK PARTNERS, INC.

SUPPLEMENTAL INFORMATION

(Unaudited)

			September 30, 2024																		December 31, 2023
			Central						Southeast						Total						Central						Southeast						Total
Lots owned
Finished lots			4,070						726						4,796						4,014						964						4,978
Lots in communities under development			20,942						1,887						22,829						9,122						1,335						10,457
Land held for future development(1)			3,800						—						3,800						8,366						—						8,366
Total lots owned			28,812						2,613						31,425						21,502						2,299						23,801
Lots controlled
Lots under option contracts			851						—						851						1,169						—						1,169
Land under option for future development			1,656						223						1,879						1,710						460						2,170
Lots under option through unconsolidated development joint ventures			2,627						270						2,897						1,210						331						1,541
Total lots controlled			5,134						493						5,627						4,089						791						4,880
Total lots owned and controlled (2)			33,946						3,106						37,052						25,591						3,090						28,681
Percentage of lots owned			84.9		%				84.1		%				84.8		%				84.0		%				74.4		%				83.0		%

(1) Land held for future development consists of raw land parcels where development activities have been postponed due to market conditions or other factors.

(2) Total lots excludes lots with homes under construction.

The following table presents additional information on the lots we owned as of September 30, 2024 and December 31, 2023.

			September 30, 2024						December 31, 2023
Total lots owned(1)			31,425						23,801
Add certain lots included in Total Lots Controlled
Land under option for future acquisition and development			1,879						2,170
Lots under option through unconsolidated development joint ventures			2,897						1,541
Total lots self-developed			36,201						27,512
Self-developed lots as a percentage of total lots owned and controlled(1)			97.7		%				95.9		%

(1) Total lots owned includes finished lot purchases, which were less than 1.8% of total lots self-developed as of September 30, 2024.

Non-GAAP Financial Measures

In this press release, we utilize certain financial measures that are non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they and similar measures are useful to management and investors in evaluating our operating performance and financing structure. We also believe these measures facilitate the comparison of our operating performance and financing structure with other companies in our industry. Because these measures are not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), they may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.

6

---

The following table represents the non-GAAP measure of adjusted homebuilding gross margin for the three and nine months ended September 30, 2024 and 2023 and reconciles these amounts to homebuilding gross margin, the most directly comparable GAAP measure.

(Unaudited, in thousands):						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Residential units revenue						$	522,859					$	415,923					$	1,513,281					$	1,320,730
Less: Mechanic’s lien contracts revenue						—						(96)						(380)						(1,337)
Home closings revenue						$	522,859					$	415,827					$	1,512,901					$	1,319,393
Homebuilding gross margin						$	171,193					$	138,427					$	508,003					$	404,644
Homebuilding gross margin percentage						32.7		%				33.3		%				33.6		%				30.7		%
Homebuilding gross margin						171,193						138,427						508,003						404,644
Add back: Capitalized interest charged to cost of revenues						2,788						2,968						8,539						10,456
Add back: Land impairment charge						$	1,308					$	—					$	1,308					$	—
Adjusted homebuilding gross margin						$	175,289					$	141,395					$	517,850					$	415,100
Adjusted homebuilding gross margin percentage						33.5		%				34.0		%				34.2		%				31.5		%

Net debt to total capitalization is calculated as the total debt less cash and cash equivalents, divided by the sum of total Green Brick Partners, Inc. stockholders’ equity and total debt less cash and cash equivalents. The closest GAAP financial measure to the net debt to total capitalization ratio is the debt to total capitalization ratio. The following table represents a reconciliation of the net debt to total capitalization ratio as of September 30, 2024:

			Gross						Cash and cash equivalents						Net
Total debt, net of debt issuance costs			$	297,276					$	(80,069)					$	217,207
Total Green Brick Partners, Inc. stockholders’ equity			1,520,737						—						1,520,737
Total capitalization			$	1,818,013					$	(80,069)					$	1,737,944
Debt to total capitalization ratio			16.4		%
Net debt to total capitalization ratio															12.5		%

About Green Brick Partners, Inc.

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates through its seven subsidiary homebuilders in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also retains interests in related financial services platforms, including Green Brick Title and BHome Mortgage. Green Brick 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 subsidiary homebuilders, please visit greenbrickpartners.com/brands-services/

Forward-Looking and Cautionary Statements:

This press release and our earnings call contain “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words “anticipate,” “believe,” “consider,” “estimate,” “expect,” “feel,”, “poised,” “intend,” “plan,” “predict,” “seek,” “strategy,” “target,” “will” or other words of similar meaning. Specifically, these statements reflect our beliefs and expectations regarding (i) our strategic advantages, including our focus on owning land and self-developing and on infill and infill-adjacent locations, and the impact on our future results; (ii) our positioning to capture future demand, increase market share and succeed in the current environment, including our ability to maintain industry-leading performance and margins; (iii) our ability to successfully implement our growth strategy, including our expectations for expansion and growth of our Trophy brand, and ancillary business opportunities; (iv) our expectations regarding trends in our markets,

7

---

such as demographic trends and demand for single-family homes; (v) our business priorities and our strategies to maintain the strength of our balance sheet and financial flexibility, and our positioning in the industry; (vi) the advantages of our lot and land strategies and locations, including the benefits to our returns, margins and ability to scale; (vii) our investments in land, lots and development in 2024, and the impact on our growth; (viii) our expected lot deliveries in 2024; (ix) our flexibility in adjusting home prices; (x) the demand for home ownership in the markets in which we operate and our ability to capitalize on such demand; (xi) the land-light model; (xii) our ability to scale our business and improve our operating leverage; and (xiii) our ability to deliver efficient and cost-effective growth, including our ability to manage costs and cycle times. These risks include, but are not limited to: (1) general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; (2) changes in macroeconomic conditions, including increasing interest rates and inflation that could adversely impact demand for new homes or the ability of potential buyers to qualify; (3) shortages, delays or increased costs of raw materials and increased demand for materials, or increases in other operating costs, including costs related to labor, real estate taxes and insurance, which in each case exceed our ability to increase prices; (4) significant periods of inflation or deflation; (5) a shortage of qualified labor; (6) an inability to acquire land in our markets at anticipated prices or difficulty in obtaining land-use entitlements; (7) our inability to successfully execute our strategies, including the successful development of our communities within expected time frames and the growth and expansion of our Trophy brand; (8) a failure to recruit, retain or develop highly skilled and competent employees; (9) the geographic concentration of our operations; (10) government regulation risks; (11) adverse changes in the availability or volatility of mortgage financing; (12) severe weather events or natural disasters; (13) difficulty in obtaining sufficient capital to fund our growth; (14) our ability to meet our debt service obligations; (15) a decline in the value of our inventories and resulting write-downs of the carrying value of our real estate assets; (16) our ability to adequately self-insure; and (17) changes in accounting standards that adversely affect our reported earnings or financial condition.. Green Brick assumes no obligation to update any forward-looking statements, which speak only as of the date they are made. For a more detailed discussion of these and other risks and uncertainties applicable to Green Brick please see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Contact:

Benting Hu

Vice President of Finance

469-573-6755

[e-mail]

8

Document and Entity Information Document And Entity Information	Oct. 30, 2024
Entity Information [Line Items]
Document Period End Date	Oct. 30, 2024
Written Communications	false
Written Communications	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Registrant Name	Green Brick Partners, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-33530
Entity Tax Identification Number	20-5952523
Entity Address, Address Line One	5501 Headquarters Drive
Entity Address, Address Line Two	Ste 300W
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75024
City Area Code	(469)
Entity Central Index Key	0001373670
Amendment Flag	false
Document Type	8-K
Local Phone Number	573-6755
Entity Emerging Growth Company	false
Series A Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares (each representing a 1/1000th interest in a share of 5.75% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share)
Trading Symbol	GRBK PRA
Security Exchange Name	NYSE
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	GRBK
Security Exchange Name	NYSE

---