Company: SDHC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049591
Chunk: 133

Company: Smith Douglas Homes Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 133
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17,23639,58553,98286,858Provision for income taxes1,0211,7612,6223,814Net income16,21537,82451,36083,044Net income attributable to non-controlling interests and LLC members prior to IPO14,08932,47744,18671,079Net income attributable to Smith Douglas Homes Corp.$2,126$5,347$7,174$11,965Earnings per share(1):    Basic$0.24$0.60$0.80$1.35Diluted$0.24$0.58$0.78$1.30Other operating data:    Home closings7888122,1282,031ASP of homes closed$333$342$334$339Net new home orders6906002,1942,080Contract value of net new home orders$231,818$205,164$737,957$708,446ASP of net new home orders$336$342$336$341Cancellation rate(2)11.2%11.4%9.7%11.3%Backlog homes (period end)(3)760961760961Contract value of backlog homes (period end)$258,732$332,035$258,732$332,035ASP of backlog homes (period end)$340$346$340$346Active communities (period end)(4)98749874Controlled lots (period end):Homes under construction1,0981,1351,0981,135Owned lots641611641611Optioned lots22,56116,13222,56116,132Total controlled lots24,30017,87824,30017,878

(1)Earnings per share for the nine months ended September 30, 2024 is calculated for the period from January 11, 2024, the date of the IPO, to September 30, 2024.

(2)The cancellation rate is the total number of cancellations during the period divided by the total gross new home orders during the period.

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(3)Backlog homes (period end) is the number of homes in backlog from the previous period plus the number of net new home orders generated during the current period minus the number of homes closed during the current period.

(4)A community becomes active once the model is completed or the community has its first sale. A community becomes inactive when it has fewer than