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Green Brick Partners Q3 profit climbs YOY

Green Brick Partners Inc. said its third-quarter normalized net income came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 11 cents per share.

EPS climbed year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.5 million, an increase from $2.0 million in the prior-year period.

The normalized profit margin rose to 6.0% from 2.7% in the year-earlier period.

Total revenue climbed 21.9% year over year to $91.7 million from $75.2 million, and total operating expenses rose 17.5% on an annual basis to $80.4 million from $68.5 million.

Reported net income increased year over year to $6.4 million, or 13 cents per share, from $2.9 million, or 6 cents per share.