Company: SDHC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049591
Chunk: 110

Company: Smith Douglas Homes Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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57%, and $31.7 million, or 38%, respectively, from the same periods of the prior year. The decrease was primarily due to decreases of $18.7 million and $21.8 million in home closing gross profit, respectively, and increases of $2.0 million and $10.3 million in selling, general and administrative costs, respectively, offset by a positive change in other expense (income), net of $1.6 million and $1.0 million, respectively.

Southeast: The $18.9 million decrease in net income for the three months ended September 30, 2025 compared to the same period in the prior year was primarily due to a $16.2 million decrease in home closing gross profit and a $2.7 million increase in selling, general and administrative costs. The decrease in net income for the nine months ended September 30, 2025 compared to the same period in the prior year was primarily due to a $11.1 million decrease in home closing gross profit and a $8.6 million increase in selling, general and administrative costs.

Central: The $4.4 million and $14.6 million decreases in net income for the three and nine months ended September 30, 2025 compared to the same periods in the prior year was primarily due to decreases in home closing gross profit of $2.5 million and $10.7 million, respectively, and increases in selling, general, and administrative costs of $1.6 million and $2.8 million, respectively.

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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 September 30,20252024Period over period change BackloghomesContractvalue ofbackloghomesASP ofbackloghomesBackloghomesContractvalue ofbackloghomesASP ofbackloghomesBackloghomesContractvalue ofbackloghomesASP ofbackloghomesSoutheast430$151,463$352584$211,339$362(26)%(28)%(3)%Central330107,269325377120,696320(12)%(11)%2%Total760$258,732$340961$332,035$346(21)%(22)%(2)%

Controlled lots

The following table sets forth our total controlled lots, which includes both our owned and optioned lots, by