Company: SDHC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001982518-25-000020
Chunk: 50

Company: Smith Douglas Homes Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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1)Other primarily includes homebuilding operations in non-reportable segments, corporate overhead costs, such as payroll and benefits, business insurance, information technology, office costs, outside professional services and travel costs, and certain other amounts that are not allocated to the reportable segments.

Net income for the three months ended March 31, 2025 decreased by $1.8 million, or 9% from the same period of the prior year. The decrease was primarily due to an increase of $5.5 million in selling, general and administrative costs, partially offset by an increase of $4.1 million in home closing gross profit. 

Southeast: The $2.9 million increase in net income for the three months ended March 31, 2025 compared to the same period in the prior year was primarily due to an increase in home closing revenue and gross profit due to an increase in homes closed of 32% and an increase in ASP of homes closed of 1%, partially offset by an increase in selling, general, and administrative costs.

Central: The $3.3 million decrease in net income for the three months ended March 31, 2025 compared to the same period in the prior year was primarily due to an increase in home closing revenue and gross profit due to an increase 

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in homes closed of 4%, partially offset by a decrease in ASP of homes closed of 3% and an increase in selling, general, and administrative costs.

Backlog homes

The following table sets forth our backlog homes and contract value and ASP of backlog homes by reportable segment for the periods presented, along with their period-to-period change (dollar amounts in thousands):

As of March 31,20252024Period over period change BackloghomesContractvalue ofbackloghomesASP ofbackloghomesBackloghomesContractvalue ofbackloghomesASP ofbackloghomesBackloghomesContractvalue ofbackloghomesASP ofbackloghomesSoutheast486$169,967$350673$239,587$356(28)%(29)%(2)%Central305100,115328437141,568324(30)%(29)%1%Total791$270,082$3411,110$381,155$343(29)%(29)%(1)%

Controlled lots

The following table sets forth our total controlled lots, which includes both our owned and optioned lots, by reportable segment as of the periods set forth below:

As of March 31,202