Shares of Green Brick Partners, Inc. were trading higher on the New York Stock Exchange Thursday, a day after the homebuilding and land development company reported second-quarter earnings per share more than doubled from the year-ago period.
At 12:47 p.m. ET, the company’s shares were trading 16% higher at $29.88.
After the bell Wednesday, the company said it achieved record per-share earnings of $2.08 in the second quarter on revenue of $525.1 million. In the year-ago period, the company reported earnings of $1.02 a share and revenue of $373.8 million.
Jim Brickman, the company’s co-founder and chief executive, said the company delivered a record number of homes during the quarter and achieved a record high home building gross margin of 32.3%, up 450 basis points sequentially.