Company: SDHC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001982518-25-000020
Chunk: 41

Company: Smith Douglas Homes Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 taxes$19,567 Three months ended March 31, 2024SoutheastCentralTotalHome closing revenue$103,495 $85,714 $189,209 Cost of home closings72,507 67,242 139,749 Home closing gross profit30,988 18,472 49,460 Less:(1)Selling, general, and administrative expenses(2)9,925 8,133 18,058 Other segment items(3)58 56 114 Segment profit21,005 10,283 31,288 Corporate selling, general, and administrative costs(4)9,483 Other corporate items(5)398 Income before income taxes$21,407 (1)The significant segment expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

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(2) Selling, general, and administrative expenses consists of internal and external commissions, marketing expense, sales expense, indirect and warranty overhead, marketing department overhead, sales department overhead, general and administrative overhead, and depreciation and amortization expense.(3)Other segment items includes interest expense, interest income, gain (loss) on sale of assets, and miscellaneous income. For the Central reportable segment, other segment items includes the change in fair value of contingent consideration related to the Devon Street Homes acquisition.(4)Corporate primarily includes corporate overhead costs, such as payroll and benefits, business insurance, information technology, office costs, outside professional services and travel costs, depreciation and amortization expense, and certain other amounts that are not allocated to the reportable segments.(5)Other corporate items includes equity in income from unconsolidated entities, interest expense, interest income, gain (loss) on sale of assets, and miscellaneous income that are not allocated to the reportable segments.March 31,2025December 31,2024Assets:Southeast$260,757 $230,226 Central (1)228,498 205,257 Segment total489,255 435,483 Corporate (2)24,664 40,418 Total$513,919 $475,901 (1)Balance includes goodwill of approximately $25.7 million resulting from the acquisition of Devon Street Homes, L.P.(2)Corporate primarily includes cash and cash equivalents, property and equipment, and other assets that are not allocated to the segments.

Note 15 - Earnings per share:

Basic earnings per share