Smith Douglas Homes reports Q2 EPS 40c, consensus 37c

Reports Q2 revenue $220.9M, consensus $209.14M. Net new orders increased 17% to 715. Home closings increased 17% to 653. Greg Bennett, Vice Chairman and Chief Executive Officer, commented, “Despite ongoing affordability challenges for our homebuyers, we have achieved another robust financial quarter due to our team’s unwavering commitment to operational excellence, combined with strong market demand. Our success is highlighted by a 17% year-over-year increase in closings and delivering above industry average gross margins of 26.7% for the quarter, which resulted in a pretax income of $25.9 million.”