Green Brick Partners Appoints New Interim CFO Amid Executive Changes

Green Brick Partners Inc. (NYSE:GRBK), a prominent real estate and construction company with an impressive annual revenue of $2.1 billion and a solid 27% return on equity, made an important announcement earlier this week regarding its leadership. The company confirmed the departure of Richard A. Costello, the long-serving Chief Financial Officer (CFO) and Principal Accounting Officer, after 11 years with the firm. His resignation, effective immediately, marks the end of a decade-long tenure that began in 2014.

In a seamless transition, Jeffery Cox has been named as the Interim Chief Financial Officer and Principal Accounting Officer. Cox, 45, brings with him a rich background in finance within the homebuilding sector. He has been with Green Brick Partners since June 2023, serving as the Senior Vice President of Finance. Before this, he held significant roles at Richmond American Homes and Lennar, further solidifying his expertise.

Cox holds a Bachelor’s degree in Accounting from Brigham Young University and a Master of Science in Accounting from the University of Utah. The company emphasized that there are no special arrangements or connections behind his appointment, and there are no related-party transactions to disclose under SEC regulations.

This leadership change comes at a time of strategic growth for Green Brick Partners. The company has recently launched a mortgage subsidiary and now oversees Green Brick Title, both of which have been led by Cox. The company remains in a robust financial position, with a liquidity ratio that sees its current assets exceeding short-term obligations by over tenfold.

Green Brick Partners’ stock is currently considered undervalued, trading at an appealing P/E ratio of 7, according to InvestingPro analysis. For those seeking deeper insights, InvestingPro subscribers have access to exclusive research reports and expert analysis.

In other developments, Green Brick Partners recently reported its Q4 2024 earnings, posting an earnings per share (EPS) of $2.31—surpassing the forecast of $2.07. Although revenue for the quarter came in at $557 million (slightly below the expected $562.48 million), the company saw a remarkable 24% year-over-year growth in revenue and a 46% increase in EPS. Green Brick Partners also plans to ramp up its land development spending by 46% to $300 million in 2025, while expanding its Trophy brand into the Houston market. Additionally, a $100 million share repurchase program has been authorized, reflecting confidence in the company’s direction and financial stability.

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