Smith Douglas Climbs Over 8% In Pre-Market As Q4 Revenue Improves

(RTTNews) - Smith Douglas Homes Corporation (SDHC), a home builder, on Wednesday reported a decline in net profit for the fourth quarter, mainly due to provision for income taxes and higher costs. However, the company posted an increase in revenue.

Greg Bennett, CEO of Smith Douglas, said: "Smith Douglas ended the year on a strong note. New home deliveries for the quarter totaled 836, which was well above our stated guidance and represented a company record for quarterly closings. Home closing gross margin came in line with our expectations for the quarter at 25.5%."

For the three-month period to December 31, 2024, SDHC posted a net income of $28.785 million, lesser than $29.680 million, recorded for the same period last year. Provision for income taxes was $1.251 million, compared with $0 million in 2023.

Income before income taxes was $30.036 million, higher than $29.680 million a year ago.

Excluding items, earnings were $22.647 million as against $22.379 million last year.

Selling, general, and administrative costs moved up to $42.895 million from $27.768 million in the previous year. The cost of home closings was $214.157 million, up from last year's $159.321 million.

Home closing revenue improved to $287.486 million from $217.327 million a year ago.

SDHC was up by 8.90 percent at $23.01 in the pre-market trade on the New York Stock Exchange.