Company: SDHC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001982518-25-000020
Chunk: 17

Company: Smith Douglas Homes Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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,727 Total liabilities and equity$513,919 $475,901 

See accompanying notes to unaudited condensed consolidated financial statements.

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SMITH DOUGLAS HOMES CORP.

Condensed Consolidated Statements of Income

(Unaudited, in thousands except share and per share amounts)

 Three months ended March 31, 20252024Home closing revenue$224,722 $189,209 Cost of home closings171,192 139,749 Home closing gross profit53,530 49,460    Selling, general and administrative costs32,999 27,541 Equity in income from unconsolidated entities(219)(184)Interest expense666 698 Other expense (income), net517 (2)Income before income taxes19,567 21,407 Provision for income taxes857 921 Net income18,710 20,486 Net income attributable to non-controlling interests and LLC members prior to IPO16,027 17,514 Net income attributable to Smith Douglas Homes Corp.$2,683 $2,972 

 Three months ended March 31, 2025Period from January 11, 2024 to March 31, 2024Earnings per share:  Basic$0.30 $0.34 Diluted$0.30 $0.33 Weighted average shares of common stock outstanding:  Basic8,966,7348,846,154Diluted9,133,26351,410,397

See accompanying notes to unaudited condensed consolidated financial statements.

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SMITH DOUGLAS HOMES CORP.

Condensed Consolidated Statements of Equity

(Unaudited and in thousands, except unit and share amounts)

Smith Douglas Holdings LLC Members’ Equity (prior toReorganization Transactions) Note 1Smith Douglas Homes Corp. Stockholders’ EquityClass A UnitsClass C Units Class D Units Class ACommon StockClass BCommon StockNon-ControllingInterests Units Amount Units Amount Units Amount SharesAmountShares AmountAdditionalPaid-inCapital RetainedEarnings Stockholders’Equity Amounts Total Equity Balance December 31, 2023111,111$206,303 2,000$2,000 600$600 $208,903 Distributions—(16,259)—— —— (16,259)Net loss prior