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PLANO, Texas, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Green Brick Partners, Inc. (Nasdaq: GRBK) (“Green Brick”) is pleased to announce that it has made Fortune’s 2019 list of 100 Fastest Growing Companies in the World.
To qualify for the list, companies must meet a rigorous set of qualifying factors and are then ranked by revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 28, 2019. Overall ranks are then determined based on the sum of the three ranks.
Green Brick received the prestigious honor due to a 3-year annual revenue growth rate of 28%, placing the company 54th in the rankings of 3-year revenue growth. The company also reported a 30% EPS 3-year annual growth rate.
“It is an honor to receive such a glowing review from Fortune,” said Jim Brickman, Chief Executive Officer and co-founder of Green Brick Partners. “The first quarter of 2019 proved to be our best first quarter in Green Brick’s history, followed by another strong second quarter. With the launch of our new entry-level homebuilder, Trophy Signature Homes, whom we have dedicated over 1,600 homesites to, coupled with the closing of our 4.0% senior unsecured notes offering through Prudential Private Capital, we are positioned for continued top and bottom line growth in 2020 and beyond.”
Green Brick Partners was only one of two homebuilders in the world to place on the top 100 list. For more information on Green Brick Partners, please visit www.greenbrickpartners.com.
About Green Brick Partners, Inc.:
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified homebuilding and land development company. Green Brick owns a controlling interest in five homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Centre Living Homes, and Trophy Signature Homes), as well as a homebuilder in Atlanta, Georgia (The Providence Group) and a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado and retains interests in related financial services platforms, including Green Brick Title, Providence Group Title, and Green Brick Mortgage. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master planned communities. For more information about Green Brick Partners Inc.'s homebuilding partners, please visit https://greenbrickpartners.com/team-builders/.
Forward-Looking and Cautionary Statements:
Any statements in this press release about Green Brick’s expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance that are not historical facts are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “should,” “predicts,” “potential,” “expects,” “future,” “positioned,” “believes,” “projects,” “estimates” and similar expressions, as well as statements in the future tense. These statements are based on assumptions that Green Brick has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances, as of the date of this press release. All such forward-looking statements involve estimates and assumptions that are subject to factors that could cause actual results to differ materially from the results expressed in the statements, and you should not place undue reliance on any such forward-looking statements. Among the factors that could cause actual results to differ materially are the following: general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; the failure to recruit, retain and develop highly skills and competent employees; management and integration of acquisitions; labor and raw material shortages; an inability to acquire land for reasonable prices; an inability to develop and sell communities; government regulation risks; mortgage financing availability and volatility; severe weather or natural disasters; difficulty in obtaining sufficient capital; poor relations with community residents; and our debt and related service obligations. Additional factors that could cause actual results to differ are discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's annual and quarterly reports filed with the Securities and Exchange Commission. Green Brick undertakes no obligation to update any forward-looking statement except as required by law.