Green Brick Partners — Oct 29, 2025 release

Exhibit 99 GREEN BRICK PARTNERS, INC. REPORTS THIRD QUARTER 2025 RESULTS DILUTED EPS OF $1.77 AND NET INCOME OF $78M NET NEW HOME ORDERS OF 898, UP 2.4% YOY, A RECORD FOR ANY THIRD QUARTER HOME CLOSINGS REVENUE OF $499M, SECOND HIGHEST THIRD QUARTER ON RECORD NEW HOMES DELIVERIES OF 953, SECOND HIGHEST THIRD QUARTER ON RECORD HOMEBUILDING GROSS MARGINS OF 31.1%, TENTH CONSECUTIVE QUARTER ABOVE 30% PLANO, Texas, October 29, 2025 — Green Brick Partners, Inc. (NYSE: GRBK) (“Green Brick,” “we,” or the “Company”), today announced results for its third quarter ended September 30, 2025. Third quarter net income attributable to Green Brick wa s $78 million or $1.77 per diluted share. The Company delivered 953 new homes, which was substantially in line to 2024’s third quarter. Home closings revenue was $499 million, compared to $523 million in the third quarter of 2024. Homebuilding gross margins of 31.1% increased 70 basis points sequentially and decrease d 160 basis points y ear-over-year as the Company adjusted incentives and sales prices to align with market demand. Approximately 80% of home closings revenue was generated from infill and infill-adjacent locations. “Our third quarter results demonstrated the resilience of our differentiated business model amid a challenging market environment, ” said Jim Brickman, CEO and co-founder. “For the tenth consecutive quarter, our gross margins remained above 30%, continuing to lead the public homebuilding industry. In these conditions, we were particularly pleased to maintain sales velocity, with net new orders growing 2.4% year-over-year to 898 units, a record for any third quarter in Company history. Our sales cancellation rate declined 1.8% year-over-year and 3.2% sequentially to 6.7% , among the lowest among our public company peers. Our monthly sales pace increased slightly year-over-year to just under 3.0 sales per community. This performance underscores the strength of our infill-focused land self-development strategy, which we believe conti nues to deliver meaningful competitive advantages.” Mr. Brickman added, “Like our peers across the industry, we addressed both affordability pressures and elevated interest rates by strategically adjusting pricing and incentives to sustain sales momentum. As a result, incentives for new orders rose 2.8% year-over-year and 1.2% sequentially to 8.9%.” Mr. Brickman continued, “At quarter-end, we maintained a homebuilding debt-to-total capital ratio of 15.3% and a net homebuilding debt-to-total capital ratio of 9.5%, positioning us among the most financially strong homebuilders. We believe our investment-grade balance sheet, combined with our differentiated land strategy, provides the flexibility to adapt to evolving market conditions, resilience in challenging environments, and resources to capitalize on opportunities. Our focus remains on executing proven strategies, balancing price and pace to achieve top-tier returns, and delivering consistent value to shareholders through operational performance and capital returns.” Mr. Brickman concluded, “We remain excited about the future and believe we are well positioned for continued growth. As part of the next stage of our expansion, I am thrilled that we broke ground on our first master-planned community in the Houston market, and we anticipate being open for sales there in time for the spring selling season.” Results for the Quarter Ended September 30, 2025: (Dollars in thousands, except per share data) Three Months Ended September 30, 2025 2024 Change New homes delivered 953  956  (0.3) % Total revenues $ 499,091  $ 523,660  (4.7) % Total cost of revenues 343,629  352,097  (2.4) % Total gross profit $ 155,462  $ 171,563  (9.4) % Income before income taxes $ 106,635  $ 118,976  (10.4) % 1 Net income attributable to Green Brick Partners, Inc. $ 77,853  $ 89,111  (12.6) % Diluted net income attributable to Green Brick Partners, Inc. per common share $ 1.77  $ 1.98  (10.6) % Residential units revenue $ 499,091  $ 522,859  (4.5) % Average sales price of homes delivered $ 523.7  $ 546.9  (4.2) % Homebuilding gross margin percentage 31.1  % 32.7  % -160 bps Selling, general and administrative expenses as a percentage of residential units revenue 11.6  % 11.0  % 60 bps Backlog revenue $ 465,589  $ 581,848  (20.0) % Homes under construction 2,202  2,330  (5.5) % Results for the Nine Months Ended September 30, 2025: (Dollars in thousands, except per share data) Nine Months Ended September 30, 2025 2024 Change New homes delivered 2,905  2,764  5.1  % Total revenues $ 1,545,859  $ 1,531,629  0.9  % Total cost of revenues 1,067,098  1,022,143  4.4  % Total gross profit $ 478,761  $ 509,486  (6.0) % Income before income taxes $ 325,071  $ 373,786  (13.0) % Net income attributable to Green Brick Partners, Inc. $ 234,860  $ 277,770  (15.4) % Diluted net income attributable to Green Brick Partners, Inc. per common share $ 5.29  $ 6.12  (13.6) % Residential units revenue $ 1,541,517  $ 1,513,281  1.9  % Average sales price of homes delivered $ 530.6  $ 547.4  (3.1) % Homebuilding gross margin percentage 30.9  % 33.6  % -270 bps Selling, general and administrative expenses as a percentage of residential units revenue 11.2  % 11.0  % 20 bps Earnings Conference Call: We will host our earnings conference call to discuss our third quarter ended September 30, 2025 at 12:00 p.m. Eastern Time on Thursday, October 30, 2025. The call can be accessed by dialing 1-888-660-6353 for domestic participants or 1-929-203-2106 for international participants and should reference meeting number 3162560. Participants may also join the call via webcast at: https://events.q4inc.com/attendee/719083800 A telephone replay of the call will be available through November 29, 2025. To access the telephone replay, the domestic dial-in number is 1-800-770-2030, the international dial-in number is 1-647-362-9199 and the access code is 3162560, or by using the link at investors.greenbrickpartners.com. 2 GREEN BRICK PARTNERS, INC. CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Residential units revenue $ 499,091  $ 522,859  $ 1,541,517  $ 1,513,281  Land and lots revenue —  801  4,342  18,348  Total revenues 499,091  523,660  1,545,859  1,531,629  Cost of residential units 343,629  351,666  1,064,906  1,005,162  Cost of land and lots —  431  2,192  16,981  Total cost of revenues 343,629  352,097  1,067,098  1,022,143  Total gross profit 155,462  171,563  478,761  509,486  Selling, general and administrative expenses (58,140) (57,740) (172,807) (165,912) Equity in income of unconsolidated entities 422  992  1,406  4,770  Other income, net 8,891  4,161  17,711  25,442  Income before income taxes 106,635  118,976  325,071  373,786  Income tax expense 23,226  23,078  68,406  71,816  Net income 83,409  95,898  256,665  301,970  Less: Net income attributable to noncontrolling interests 5,556  6,787  21,805  24,200  Net income attributable to Green Brick Partners, Inc. $ 77,853  $ 89,111  $ 234,860  $ 277,770  Net income attributable to Green Brick Partners, Inc. per common share: Basic $ 1.77  $ 1.99  $ 5.30  $ 6.18  Diluted $ 1.77  $ 1.98  $ 5.29  $ 6.12  Weighted average common shares used in the calculation of net income attributable to Green Brick Partners, Inc. per common share: Basic 43,541  44,457  43,914  44,614  Diluted 43,632  44,530  44,031  45,019  3 GREEN BRICK PARTNERS, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) September 30, 2025 December 31, 2024 ASSETS Cash and cash equivalents $ 142,426  $ 141,543  Restricted cash 33,018  18,153  Receivables 40,263  13,858  Real estate inventory: Inventory owned 1,931,799  1,771,203  Consolidated inventory related to VIE 168,296  166,529  Total inventory 2,100,095  1,937,732  Investments in unconsolidated entities 85,386  60,582  Right-of-use assets - operating leases 7,837  7,242  Property and equipment, net 5,872  6,551  Earnest money deposits 13,736  13,629  Deferred income tax assets, net 13,984  13,984  Intangible assets, net 218  282  Goodwill 680  680  Other assets 37,860  35,758  Total assets $ 2,481,375  $ 2,249,994  LIABILITIES AND EQUITY Liabilities: Accounts payable $ 91,270  $ 59,746  Accrued expenses 127,523  110,068  Customer and builder deposits 35,179  37,068  Lease liabilities - operating leases 8,966  8,343  Borrowings on lines of credit, net 62,753  22,645  Senior unsecured notes, net 261,877  299,090  Notes payable 14,871  14,871  Total liabilities 602,439  551,831  Commitments and contingencies Redeemable noncontrolling interest in equity of consolidated subsidiary 47,302  44,709  Equity: Green Brick Partners, Inc. stockholders’ equity Preferred stock, $0.01 par value: 5,000,000 shares authorized; 2,000 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 47,603  47,603  Common stock, $0.01 par value: 100,000,000 shares authorized; 43,565,098 issued and outstanding as of September 30, 2025 and 44,498,097 issued and outstanding as of December 31, 2024, respectively 436  445  Additional paid-in capital 245,661  244,653  Retained earnings 1,510,462  1,332,714  Total Green Brick Partners, Inc. stockholders’ equity 1,804,162  1,625,415  Noncontrolling interests 27,472  28,039  Total equity 1,831,634  1,653,454  Total liabilities and equity $ 2,481,375  $ 2,249,994  4 GREEN BRICK PARTNERS, INC. SUPPLEMENTAL INFORMATION (Unaudited) Residential Units Revenue and New Homes Delivered (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 Change % 2025 2024 Change % Home closings revenue $ 499,059  $ 522,859  $ (23,800) (4.6)% $ 1,541,485  $ 1,512,901  $ 28,584  1.9  % Mechanic’s lien contracts revenue 32  —  32  100% 32  380  (348) (91.6) % Residential units revenue $ 499,091  $ 522,859  $ (23,768) (4.5)% $ 1,541,517  $ 1,513,281  $ 28,236  1.9  % New homes delivered 953  956  (3) (0.3)% 2,905  2,764  141  5.1  % Average sales price of homes delivered $ 523.7  $ 546.9  $ (23.2) (4.2)% $ 530.6  $ 547.4  $ (16.8) (3.1) % Land and Lots Revenue (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 Change % 2025 2024 Change % Lots revenue $ —  $ 800  $ (800) (100)% $ 4,342  $ 5,644  $ (1,302) (23.1) % Land revenue —  1  (1) (100)% —  12,704  (12,704) (100) % Land and lots revenue $ —  $ 801  $ (801) (100)% $ 4,342  $ 18,348  $ (14,006) (76.3) % Lots closed —  8.00  (8) (100)% 42  79  (37) (46.8) % Average sales price of lots closed $ —  $ 100.0  $ (100.0) (100)% $ 103.4  $ 71.4  $ 32.0  44.8  % New Home Orders and Backlog (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 Change % 2025 2024 Change % Net new home orders 898  877  21  2.4% 2,912  2,803  109  3.9  % Revenue from net new home orders $ 448,465  $ 454,358  $ (5,893) (1.3)% $ 1,511,190  $ 1,539,549  $ (28,359) (1.8)% Average selling price of net new home orders $ 499.4  $ 518.1  $ (18.7) (3.6)% $ 519.0  $ 549.3  $ (30.3) (5.5)% Cancellation rate 6.7  % 8.5  % (1.8) % (21.2)% 7.5  % 7.1  % 0.4  % 5.6  % Absorption rate per average active selling community per quarter 8.7  8.4  0.3  3.6% 9.3  9.3  —  —  % Average active selling communities 103  105  (2) (1.9)% 104  100  4  4.0  % Active selling communities at end of period 100  106  (6) (5.7)% Backlog revenue $ 465,589  $ 581,848  $ (116,259) (20.0)% Backlog units 675  809  (134) (16.6)% Average sales price of backlog $ 689.8  $ 719.2  $ (29.4) (4.1)% 5 GREEN BRICK PARTNERS, INC. SUPPLEMENTAL INFORMATION (Unaudited) September 30, 2025 December 31, 2024 Central Southeast Total Central Southeast Total Lots owned Finished lots 4,089  624  4,713  3,932  790  4,722  Lots in communities under development 30,135  1,851  31,986  22,524  1,670  24,194  Land held for future development (1) —  —  —  3,800  —  3,800  Total lots owned 34,224  2,475  36,699  30,256  2,460  32,716  Lots controlled Lots under option contracts 465  121  586  806  —  806  Land under option for future development 1,123  189  1,312  1,091  349  1,440  Lots under option through unconsolidated development joint ventures 2,518  71  2,589  2,614  255  2,869  Total lots controlled 4,106  381  4,487  4,511  604  5,115  Total lots owned and controlled (2) 38,330  2,856  41,186  34,767  3,064  37,831  Percentage of lots owned 89.3  % 86.7  % 89.1  % 87.0  % 80.3  % 86.5  % (1) Land held for future development consists of raw land parcels where development activities have been postponed due to market conditions or other factors. (2) Total lots excludes lots with homes under construction. The following table presents additional information on the lots we owned as of September 30, 2025 and December 31, 2024. September 30, 2025 December 31, 2024 Total lots owned (1) 36,699  32,716  Add certain lots included in Total Lots Controlled Land under option for future acquisition and development 1,312  1,440  Lots under option through unconsolidated development joint ventures 2,589  2,869  Total lots self-developed 40,600  37,025  Self-developed lots as a percentage of total lots owned and controlled (1) 98.6  % 97.9  % (1) Total lots owned includes finished lot purchases, which were less than 1.5% of total lots self-developed as of September 30, 2025. Non-GAAP Financial Measures In this press release, we utilize certain financial measures that are non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they and similar measures are useful to management and investors in evaluating our operating performance and financing structure. We also believe these measures facilitate the comparison of our operating performance and financing structure with other companies in our industry. Because these measures are not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), they may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. 6 The following table represents the non-GAAP measure of adjusted homebuilding gross margin for the three and nine months ended September 30, 2025 and 2024 and reconciles these amounts to homebuilding gross margin, the most directly comparable GAAP measure. (Unaudited, in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Residential units revenue $ 499,091  $ 522,859  $ 1,541,517  $ 1,513,281  Less: Mechanic’s lien contracts revenue (32) —  (32) (380) Home closings revenue $ 499,059  $ 522,859  $ 1,541,485  $ 1,512,901  Homebuilding gross margin $ 155,450  $ 171,193  $ 476,599  $ 508,003  Homebuilding gross margin percentage 31.1  % 32.7  % 30.9  % 33.6  % Homebuilding gross margin 155,450  171,193  476,599  508,003  Add back: Capitalized interest charged to cost of revenues 2,359  2,788  7,197  8,539  Add back: Land impairment charge —  1,308  —  1,308  Less: Warranty reserve adjustment (4,809) —  (4,809) —  Adjusted homebuilding gross margin $ 153,000  $ 175,289  $ 478,987  $ 517,850  Adjusted homebuilding gross margin percentage 30.7  % 33.5  % 31.1  % 34.2  % Net debt to total capitalization is calculated as the total debt less cash and cash equivalents, divided by the sum of total Green Brick Partners, Inc. stockholders’ equity and total debt less homebuilding cash and cash equivalents. The closest GAAP financial measure to the net debt to total capitalization ratio is the debt to total capitalization ratio. The following table represents a reconciliation of the net debt to total capitalization ratio as of September 30, 2025: Total capitalization Homebuilding capitalization (1) Gross Cash and cash equivalents Net Gross Cash and cash equivalents Net Total debt, net of debt issuance costs $ 339,501  $ (142,426) $ 197,075  $ 324,944  $ (135,391) $ 189,553  Total Green Brick Partners, Inc. stockholders’ equity 1,804,162  —  1,804,162  1,804,162  —  1,804,162  Total capitalization $ 2,143,663  $ (142,426) $ 2,001,237  $ 2,129,106  $ (135,391) $ 1,993,715  Debt to total capitalization ratio 15.8  % 15.3  % Net debt to total capitalization ratio 9.8  % 9.5  % (1) Homebuilding capitalization ratio excludes cash and debt related to our wholly owned mortgage company. About Green Brick Partners, Inc. Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a 50% interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also retains interests in related financial services platforms, including Green Brick Title, GRBK Mortgage, and Green Brick Insurance. Green Brick is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master-planned communities. For more information about Green Brick Partners Inc.’s subsidiary homebuilders, please visit https://greenbrickpartners.com/brands-services/. Forward-Looking and Cautionary Statements: This press release and our earnings call contain “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar 7 expressions concerning matters that are not historical facts and typically include the words “anticipate,” “believe,” “consider,” “estimate,” “expect,” “feel,”, “poised,” “intend,” “plan,” “predict,” “seek,” “strategy,” “target,” “will” or other words of similar meaning. Specifically, these statements reflect our beliefs and expectations regarding (i) our infill-focused land self-development strategy; (ii) our ability to adapt to evolving market conditions; (iii) our ability adjust pricing in order to meet market demand; (iv) our investments in land, lots and development in 2025; (v) our strategic advantages, including our unique business model and focus on infill and infill-adjacent locations, and the impact on our future results; (vi) our lot and land strategy and its impact on our future financial position; (vii) our ability to successfully implement our growth strategy, including our expectations for expansion and growth of our Trophy brand in Austin and Houston and the impact that expansion will have on our future results; (viii) our ability to navigate short-term market headwinds; (ix) the impact of tariffs; (x) our ability to opportunistically deploy capital to maximize shareholder returns, and to accelerate growth as the housing market improves; (xi) the credit worthiness of our buyers, quality of our product, and desirability of our communities; (xii) our future financial and operational performance; (xiii) expansion of our financial services through Green Brick Mortgage and Green Brick Insurance and (xiv) our ability to deliver efficient and cost-effective growth, including our ability to manage costs and cycle times. These forward-looking statements reflect our current views about future events and involve estimates and assumptions which may be affected by risks and uncertainties in our business, as well as other external factors, which could cause future results to materially differ from those expressed or implied in any forward-looking statement. These risks include, but are not limited to: (1) general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; (2) changes in macroeconomic conditions, including increasing interest rates and inflation that could adversely impact demand for new homes or the ability of potential buyers to qualify; (3) shortages, delays or increased costs of raw materials and increased demand for materials, or increases in other operating costs, including costs related to labor, real estate taxes and insurance, which in each case exceed our ability to increase prices; (4) significant periods of inflation or deflation; (5) a shortage of labor; (6) an inability to acquire land in our markets at anticipated prices or difficulty in obtaining land-use entitlements; (7) our inability to successfully execute our strategies, including the successful development of our communities within expected time frames and the growth and expansion of our Trophy brand; (8) a failure to recruit, retain or develop highly skilled and competent employees; (9) the geographic concentration of our operations; (10) government regulation risks; (11) adverse changes in the availability or volatility of mortgage financing; (12) severe weather events or natural disasters; (13) difficulty in obtaining sufficient capital to fund our growth; (14) our ability to meet our debt service obligations; (15) a decline in the value of our inventories and resulting write-downs of the carrying value of our real estate assets; (16) our ability to adequately self-insure; and (17) changes in accounting standards that adversely affect our reported earnings or financial condition. Green Brick assumes no obligation to update any forward-looking statements, which speak only as of the date they are made. For a more detailed discussion of these and other risks and uncertainties applicable to Green Brick please see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. Contact: Investor Relations 469-573-6755 IR@greenbrickpartners.com 8