Green Brick Partners (GRBK) stock surged 7.19% in after-hours trading on Wednesday following the release of its record fiscal fourth quarter 2024 results. The homebuilder's strong performance was fueled by healthy demand and industry-leading margins in its infill and adjacent markets.

For the quarter ended December 31, 2024, Green Brick reported:

• Revenue of $567.3 million, up 26% year-over-year
• Net income of $103.8 million, up 42.2% year-over-year
• Earnings per diluted share of $2.31, up 46.2% year-over-year
• Homebuilding gross margin of 34.3%, up 290 basis points year-over-year
• New home orders of 878, up 29.3% year-over-year

The robust results were driven by record home closings revenue of $556.9 million, up 24.2% year-over-year, reflecting continued strong demand in the company's infill and adjacent submarkets. Green Brick's ability to deliver industry-leading homebuilding gross margins of 34.3% also boosted profitability.

CEO Jim Brickman highlighted the company's strong land and lot position, with total lots owned and controlled up 31.9% year-over-year to 37,831 at the end of 2024. He also noted Green Brick's low financial leverage, with a debt-to-total-capital ratio of 17.2%.

"We remain optimistic on the housing market over the long term, which is supported by demographic tailwinds and persistent housing shortages," said Brickman. "We have a great land and lot position."