$GRBK
Green Brick Partners, Inc.

2023 Q2 Form 10-Q Financial Statement

#000137367023000032 Filed on May 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $456.3M $452.1M $431.1M
YoY Change -13.11% 14.85% -4.68%
Cost Of Revenue $313.4M $327.5M $318.6M
YoY Change -12.04% 14.79% -6.69%
Gross Profit $142.9M $124.6M $112.5M
YoY Change -15.37% 15.0% 1.53%
Gross Profit Margin 31.33% 27.56% 26.09%
Selling, General & Admin $49.23M $45.95M $44.63M
YoY Change 17.78% 34.09% 20.34%
% of Gross Profit 34.44% 36.87% 39.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $830.0K $754.0K $650.0K
YoY Change 66.0% 20.64% -2.84%
% of Gross Profit 0.58% 0.61% 0.58%
Operating Expenses $49.23M $45.95M $44.63M
YoY Change 17.78% 34.09% 20.34%
Operating Profit $93.71M $78.66M $67.82M
YoY Change -26.27% 6.17% -7.94%
Interest Expense $5.699M $4.221M $5.719M
YoY Change -33.13% -25.78% 0.79%
% of Operating Profit 6.08% 5.37% 8.43%
Other Income/Expense, Net $4.807M $4.290M $4.410M
YoY Change 80.65% 50.26% 35.94%
Pretax Income $104.2M $87.17M $77.95M
YoY Change -24.64% 5.49% -5.61%
Income Tax $23.15M $19.00M $16.79M
% Of Pretax Income 22.21% 21.8% 21.54%
Net Earnings $74.55M $64.18M $54.83M
YoY Change -26.37% 4.23% -13.62%
Net Earnings / Revenue 16.34% 14.2% 12.72%
Basic Earnings Per Share $1.64 $1.38
Diluted Earnings Per Share $1.63 $1.37 $1.18
COMMON SHARES
Basic Shares Outstanding 45.51M shares 46.03M shares 46.04M shares
Diluted Shares Outstanding 45.76M shares 46.35M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $209.6M $177.3M $76.59M
YoY Change 213.93% 168.26% -2.68%
Cash & Equivalents $209.6M $177.3M $93.27M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.404B $1.373B $1.423B
Prepaid Expenses
Receivables $7.057M $7.256M $5.288M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.621B $1.558B $1.505B
YoY Change 12.35% 11.2% 16.69%
LONG-TERM ASSETS
Property, Plant & Equipment $7.064M $3.913M $2.919M
YoY Change 155.85% 49.52% 3.81%
Goodwill $680.0K $680.0K $680.0K
YoY Change 0.0% 0.0% 0.0%
Intangibles $409.0K $429.0K $452.0K
YoY Change -17.21% -16.86% -15.83%
Long-Term Investments $81.80M $77.06M $74.22M
YoY Change 27.66% 32.57% 33.46%
Other Assets $38.06M $34.86M $33.13M
YoY Change -1.49% 16.63% 8.27%
Total Long-Term Assets $155.5M $148.9M $151.1M
YoY Change 6.9% 16.33% 14.0%
TOTAL ASSETS
Total Short-Term Assets $1.621B $1.558B $1.505B
Total Long-Term Assets $155.5M $148.9M $151.1M
Total Assets $1.777B $1.706B $1.656B
YoY Change 11.86% 11.63% 16.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $57.46M $52.86M $51.80M
YoY Change -4.59% -7.1% 13.4%
Accrued Expenses $104.2M $111.7M $94.86M
YoY Change 4.27% 18.84% 43.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 -$2.453M $17.40M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $205.0M $199.0M $193.2M
YoY Change -18.83% -14.91% 9.52%
LONG-TERM LIABILITIES
Long-Term Debt $381.4M $380.8M $379.7M
YoY Change -6.28% -2.8% 6.42%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $381.4M $380.8M $379.7M
YoY Change -6.28% -2.8% 6.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $205.0M $199.0M $193.2M
Total Long-Term Liabilities $381.4M $380.8M $379.7M
Total Liabilities $602.5M $549.6M $543.6M
YoY Change -0.05% -5.92% 6.32%
SHAREHOLDERS EQUITY
Retained Earnings $869.0M $817.8M $754.3M
YoY Change 23.9% 36.12% 39.73%
Common Stock $454.0K $462.0K $460.0K
YoY Change -11.5% -9.77% -10.16%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $15.35M $0.00
YoY Change -100.0% -47.01% -100.0%
Treasury Stock Shares
Shareholders Equity $1.174B $1.114B $1.062B
YoY Change
Total Liabilities & Shareholders Equity $1.777B $1.706B $1.656B
YoY Change 11.86% 11.63% 16.44%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $74.55M $64.18M $54.83M
YoY Change -26.37% 4.23% -13.62%
Depreciation, Depletion And Amortization $830.0K $754.0K $650.0K
YoY Change 66.0% 20.64% -2.84%
Cash From Operating Activities $55.46M $154.7M $59.34M
YoY Change -12.54% -1205.52% 168.28%
INVESTING ACTIVITIES
Capital Expenditures $1.271M $1.581M $663.0K
YoY Change -303.69% 252.9% -372.84%
Acquisitions
YoY Change
Other Investing Activities -$3.460M -$1.520M -$868.0K
YoY Change 207.01%
Cash From Investing Activities -$4.731M -$3.101M -$1.531M
YoY Change 170.19% 592.19% 530.04%
FINANCING ACTIVITIES
Cash Dividend Paid $719.0K
YoY Change 9.77%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.21M -$49.19M -31.48M
YoY Change -70.88% -4480.14% -268.53%
NET CHANGE
Cash From Operating Activities 55.46M $154.7M 59.34M
Cash From Investing Activities -4.731M -$3.101M -1.531M
Cash From Financing Activities -15.21M -$49.19M -31.48M
Net Change In Cash 35.52M $102.4M 26.33M
YoY Change 277.06% -868.95% -35.07%
FREE CASH FLOW
Cash From Operating Activities $55.46M $154.7M $59.34M
Capital Expenditures $1.271M $1.581M $663.0K
Free Cash Flow $54.19M $153.1M $58.67M
YoY Change -15.38% -1160.28% 162.4%

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CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
888694000 usd
CY2022Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
139710 shares
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2752000 usd
CY2022Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
46415 shares
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1075000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
280000 usd
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
655000 usd
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
25801000 usd
CY2022Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5718000 usd
CY2022Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
63327000 usd
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
51245206 shares
CY2022Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
1584976 shares
CY2022Q1 us-gaap Treasury Stock Value
TreasuryStockValue
28968000 usd
CY2022Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
292155000 usd
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
600788000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
912183000 usd
CY2022Q1 us-gaap Minority Interest
MinorityInterest
10178000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
922361000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
68141000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
64196000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
754000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
625000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
146000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-39000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5499000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2923000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4221000 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5687000 usd
CY2023Q1 grbk Earnest Money Depositsand Preacquisition Costs Written Off
EarnestMoneyDepositsandPreacquisitionCostsWrittenOff
10000 usd
CY2022Q1 grbk Earnest Money Depositsand Preacquisition Costs Written Off
EarnestMoneyDepositsandPreacquisitionCostsWrittenOff
59000 usd
CY2023Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
2906000 usd
CY2022Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
3176000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1968000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
179000 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-49987000 usd
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
123429000 usd
CY2023Q1 us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
-4380000 usd
CY2022Q1 us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
-1265000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2960000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-4476000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
1058000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
11217000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
17512000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
28317000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
7835000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-992000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
154707000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13994000 usd
CY2023Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1520000 usd
CY2022Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1581000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
448000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3101000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-448000 usd
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
22000000 usd
CY2022Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
112000000 usd
CY2023Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
42000000 usd
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
92000000 usd
CY2023Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
CY2022Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
14472000 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
16000 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
14000 usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
72000 usd
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
86000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1975000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1075000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15351000 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25801000 usd
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
719000 usd
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
655000 usd
CY2023Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
11056000 usd
CY2022Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
5718000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-49189000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1123000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
102417000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-13319000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76588000 usd
CY2021Q4 us-gaap Cash
Cash
78696000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
16682000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
14858000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93270000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93554000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
177271000 usd
CY2022Q1 us-gaap Cash
Cash
66083000 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
18416000 usd
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
14152000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
195687000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80235000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
25000 usd
CY2023Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Basis of Presentation</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) as set forth in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) and applicable regulations of the Securities and Exchange Commission (“SEC”), but do not include all of the information and footnotes required for complete financial statements. The condensed consolidated balance sheet as of December 31, 2022 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In the opinion of management, the accompanying unaudited condensed consolidated financial statements for the periods presented reflect all adjustments of a normal, recurring nature necessary to fairly state our financial position, results of operations and cash flows. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023 or subsequent periods due to seasonal variations and other factors.</span></div>
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management of the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes, including the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></div>
CY2023Q1 grbk Finished Homesand Homesunder Construction
FinishedHomesandHomesunderConstruction
525571000 usd
CY2022Q4 grbk Finished Homesand Homesunder Construction
FinishedHomesandHomesunderConstruction
603953000 usd
CY2023Q1 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
796826000 usd
CY2022Q4 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
768194000 usd
CY2023Q1 grbk Land Held For Future Development
LandHeldForFutureDevelopment
48453000 usd
CY2022Q4 grbk Land Held For Future Development
LandHeldForFutureDevelopment
48369000 usd
CY2023Q1 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
2164000 usd
CY2022Q4 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
2164000 usd
CY2023Q1 us-gaap Inventory Real Estate
InventoryRealEstate
1373014000 usd
CY2022Q4 us-gaap Inventory Real Estate
InventoryRealEstate
1422680000 usd
CY2023Q1 grbk Carrying Value Of Inventory Evaluated For Impairment
CarryingValueOfInventoryEvaluatedForImpairment
26600000 usd
CY2022Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
22752000 usd
CY2021Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
19950000 usd
CY2023Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
3743000 usd
CY2022Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
3734000 usd
CY2023Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
3648000 usd
CY2022Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
2933000 usd
CY2023Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
22847000 usd
CY2022Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
20751000 usd
CY2023Q1 grbk Capitalized Interest As A Percentage Of Inventory
CapitalizedInterestAsAPercentageOfInventory
0.017
CY2022Q1 grbk Capitalized Interest As A Percentage Of Inventory
CapitalizedInterestAsAPercentageOfInventory
0.016
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
77059000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
74224000 usd
CY2023Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
108492000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
17945000 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
9378000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2045000 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1814000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
633000 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
295000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1091000 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
874000 usd
CY2022Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.006 rate
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
19532000 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
10613000 usd
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2453000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2605000 usd
CY2023Q1 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
2453000 usd
CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
17395000 usd
CY2023Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
35000000 usd
CY2023Q1 us-gaap Senior Notes
SeniorNotes
335920000 usd
CY2022Q4 us-gaap Senior Notes
SeniorNotes
335825000 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
14400000 usd
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
29239000 usd
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
21867000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1365000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
869000 usd
CY2023Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
313000 usd
CY2022Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-557000 usd
CY2023Q1 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
30291000 usd
CY2022Q1 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
22179000 usd
CY2022Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1193037 shares
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25800000 usd
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15400000 usd
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
33300000 usd
CY2023Q1 us-gaap Dividends Cash
DividendsCash
700000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
1
CY2023Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
59857 shares
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2000000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
38000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
23.94
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
179000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
33.21
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
123000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
33.01
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
94000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
29.69
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
500000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.49
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
500000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.49
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y6M29D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
13785000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
500000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.49
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y6M29D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
13785000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2900000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2700000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
36948000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
29112000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12653000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
20895000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5300000 usd
CY2023Q1 us-gaap Revenue Practical Expedient Remaining Performance Obligation Description
RevenuePracticalExpedientRemainingPerformanceObligationDescription
Our contracts with homebuyers have a duration of less than one year. As such, the Company uses the practical expedient as allowed under ASC 606, Revenue from Contracts with Customers, and therefore has not disclosed the transaction price allocated to remaining performance obligations as of the end of the reporting period.
CY2023Q1 us-gaap Revenues
Revenues
452061000 usd
CY2022Q1 us-gaap Revenues
Revenues
393616000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
124606000 usd
CY2022Q1 us-gaap Gross Profit
GrossProfit
108356000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
87172000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
82633000 usd
CY2023Q1 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
1373014000 usd
CY2022Q4 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
1422680000 usd
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.20
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19000000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18400000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.218
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
64180000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
61577000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45945000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50586000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45945000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50586000 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
406000 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
338000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46351000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50924000 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.20
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
67000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29000 shares
CY2023Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
312100000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 usd
CY2023Q1 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
0.1 usd
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
3100000 usd
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
5000000 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
400000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
400000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1028000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
590000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
566000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
504000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
447000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
380000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3515000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
328000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3187000 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000 usd

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