Smith Douglas Homes Reports Higher Q3 Profit, Better Than View

(RTTNews) - Smith Douglas Homes Corp. (SDHC) Tuesday reported net income of $37.82 million for the third quarter, higher than $33.93 million in the same quarter a year ago.

The home builder that debuted on the NYSE in January this year posted net income attributable to Smith Douglas Homes Corp. of $5.35 million or $0.58 per share, that beat the analysts' average estimate of $0.47 per share. Analysts' estimates typically exclude special items.

Home closing revenue increased 41 percent to $277.84 million from $197.64 million in the previous year, with 39 percent growth in home closings. The Street was looking for revenue of $258.08 million.