SPY328.13-10.10 -2.98%
DIA266.30-8.36 -3.04%
IXIC11,077.87-353.48 -3.09%

The New Home Company Sees Prelim. Q3 Home Sales Revenue $117.4M, Down From $118.8M YoY

ALISO VIEJO, Calif.--(BUSINESS WIRE)-- The New Home Company Inc. (NYSE:NWHM) today announced selected preliminary results for the 2020 third quarter. These estimated results are preliminary and unaudited. Preliminary

· 10/13/2020 07:42

ALISO VIEJO, Calif.--(BUSINESS WIRE)-- The New Home Company Inc. (NYSE:NWHM) today announced selected preliminary results for the 2020 third quarter. These estimated results are preliminary and unaudited.

Preliminary 2020 Third Quarter Financial Highlights (Estimated Results)

  • Net new orders of 251 as compared to 124 in the 2019 third quarter, a 102% increase
  • Monthly sales absorption of 3.5 per community as compared to 2.0 per community in the 2019 third quarter, a 75% increase
  • September net new orders of 99, a 106% increase compared to September 2019
  • Homes in backlog of 329 homes, representing $207.1 million in backlog value, as compared to 207 homes at the end of the 2019 third quarter, a 59% increase
  • Ending actively selling community count of 25, a 14% increase compared to the end of the 2019 third quarter
  • Homes sales revenue of $117.4 million as compared to $118.8 million for the 2019 third quarter
    • Deliveries of 157 as compared to 124 in the 2019 third quarter, a 27% increase
    • Average sales price of $748,000 as compared to $958,000 in the 2019 third quarter
  • Fee building revenues of $13.4 million as compared to $22.3 million for the 2019 third quarter
  • Cash and cash equivalents of $126.4 million as of September 30, 2020 as compared to $85.6 million as of June 30, 2020
  • Total debt, net of $290.3 million as compared to $327.4 million as of September 30, 2019