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    Dream Finders Announces First Quarter 2024 Results

    5/2/24 7:00:00 AM ET
    $DFH
    Homebuilding
    Consumer Discretionary
    Get the next $DFH alert in real time by email

    First Quarter Homebuilding Revenues of $825 million

    Net New Orders Up 19%, Net Income to DFH Up 11%

    Return on Participating Equity of 34.9%

    Dream Finders Homes, Inc. (the "Company", "Dream Finders Homes", "Dream Finders" or "DFH") (NYSE:DFH) announced its financial results for the first quarter ended March 31, 2024.

    First Quarter 2024 Highlights (As Compared to First Quarter 2023, unless otherwise noted)

    • Homebuilding revenues increased 8% to $825 million from $767 million
    • Home closings increased 9% to 1,655 from 1,517
    • Net new orders increased 19% to 1,724 from 1,448
    • Average sales price of homes closed increased to $494,995 from $490,553
    • Homebuilding gross margin increased 80 basis points to 17.8% from 17.0%
    • Adjusted gross margin (non-GAAP) increased 200 basis points to 26.3% from 24.3%
    • Pre-tax income increased 2% to $71 million from $69 million
    • Net income attributable to DFH increased 11% to $54 million, or $0.55 per basic share, from $49 million, or $0.49 per basic share
    • Active community count increased 5% to 232 from 220
    • Backlog of 4,524 sold homes as of March 31, 2024, valued at $2.3 billion
    • Net debt to net capitalization of 39.9% as of March 31, 2024, compared to 43.3% as of March 31, 2023
    • Return on participating equity of 34.9% for the trailing twelve months ended March 31, 2024, compared to 46.0% for the trailing twelve months ended March 31, 2023
    • Total liquidity, comprised of cash and cash equivalents, and availability under the revolving credit facility, of $500 million as of March 31, 2024, compared to $828 million as of December 31, 2023. The Crescent Homes acquisition (discussed below) was funded by cash on hand and borrowings under the revolving credit facility.

    Management Commentary

    Patrick Zalupski, Dream Finders Homes Chairman and CEO, said, "Despite persistent uncertainty in the interest rate environment, DFH achieved another quarter of quality growth, with homebuilding revenues of $825 million, an 8% increase over the prior year quarter and another first quarter Company record. More notably, we delivered increases in net new orders of 19% and net income attributable to DFH of 11% in the first quarter of 2024 compared to the year ago quarter.

    "We are also very excited about closing the Crescent Homes acquisition during the quarter, our fifth acquisition in five years. We are confident this will provide significant growth opportunities in our Mid-Atlantic segment. We remain enthusiastic about our current and long-term prospects for DFH as we continue to pursue strategic opportunities in new and existing markets."

    Acquisition of Crescent Homes

    On February 1, 2024, the Company acquired the majority of the homebuilding assets of privately held homebuilder, Crescent Homes ("Crescent Homes" or "Crescent"). The acquisition allowed the Company to expand into the markets of Charleston and Greenville, South Carolina, and Nashville, Tennessee. Crescent's operations are included within our Mid-Atlantic segment as of the acquisition date.

    First Quarter 2024 Results

    Homebuilding revenues in the first quarter of 2024 increased 8% to $825 million, compared to $767 million in the first quarter of 2023. Average sales price ("ASP") of homes closed for the first quarter of 2024 was $494,995, a slight increase compared to the prior year quarter ASP of $490,553. Home closings increased 9% to 1,655 compared to 1,517 in the first quarter of 2023. The increase in homebuilding revenues was primarily due to the Crescent acquisition and overall product mix during the first quarter of 2024 when compared to the first quarter of 2023.

    Homebuilding gross margin percentage in the first quarter of 2024 increased 80 basis points ("bps") to 17.8% from 17.0% in the first quarter of 2023, primarily attributable to direct cost reductions and, to a lesser extent, cycle time improvements across our homebuilding operations. The increase in gross margin percentage was partially offset by higher land and financing costs. In addition, amortization of purchase accounting adjustments associated with home closings contributed from the Crescent Homes acquisition negatively impacted the first quarter of 2024 gross margin percentage by approximately 50 bps. Purchase accounting amortization is a temporary cost that will conclude in conjunction with closing the remaining homes in inventory acquired from Crescent.

    Adjusted gross margin as a percentage of homebuilding revenues in the first quarter of 2024 was 26.3%, an increase of 200 bps compared to 24.3% in the first quarter of 2023. The increase in adjusted gross margin was primarily due to direct cost reductions, partially offset by higher land costs. Adjusted gross margin is a non-GAAP financial measure. See "Reconciliation of Non-GAAP Financial Measures."

    Selling, general and administrative expense ("SG&A") in the first quarter of 2024 increased 35% to $82 million, compared to $61 million in the first quarter of 2023. SG&A as a percentage of homebuilding revenues in the first quarter of 2024 was 9.9%, an increase of 200 basis points compared to 7.9% in the first quarter of 2023. The increase was primarily attributable to higher compensation costs as we continue to expand our operations, as well as costs associated with forward mortgage commitment programs which allow our homebuyers to lock in their mortgage interest rates at the time of sale. Although the SG&A percentage of homebuilding revenues increased in the current quarter, this metric should normalize for the year as anticipated quarterly closing volumes materialize.

    Net income attributable to DFH in the first quarter of 2024 increased 11% to $54 million, or $0.55 per basic share, from $49 million, or $0.49 per basic share in the first quarter of 2023. This improvement primarily resulted from a 14% reduction in income tax expense compared to the prior year quarter, mainly as a result of increased tax benefits from stock-based compensation.

    Net new orders in the first quarter of 2024 were 1,724, an increase of 19% compared to 1,448 net new orders for the first quarter of 2023. The cancellation rate in the first quarter of 2024 was 21.0%, remaining consistent with the first quarter of 2023 cancellation rate of 20.9%. The Company had one built-for-rent contract of 229 units that was terminated during the first quarter of 2024 based on a strategic decision to convert the controlled lots into future retail sales. Excluding the impact of this unique event, net new orders were 1,953, an increase of 35% over the prior year quarter, and the total cancellation rate was 10.5% for the three months ended March 31, 2024.

    Our total available liquidity as of March 31, 2024 was $500 million, including $239 million of unrestricted operating cash. In addition, net debt to net capitalization as of March 31, 2024 was 39.9%, a reduction of 340 bps from the end of the first quarter of 2023. The improvement in net debt to net capitalization was achieved despite the Crescent Homes acquisition in 2024, which was funded by cash on hand and borrowings under the revolving credit facility.

    First Quarter 2024 Backlog

    As of March 31, 2024, DFH had a backlog of 4,524 homes, valued at $2.3 billion, compared to the backlog of 3,978 homes, valued at $1.9 billion as of December 31, 2023. As of March 31, 2024, the ASP in backlog was $513,238 compared to $474,451 as of December 31, 2023. As of March 31, 2024, approximately 727 of the homes in backlog are expected to be delivered in 2025 and beyond.

    The following table shows the backlog units and ASP as of March 31, 2024 by homebuilding segment:

     

    As of March 31, 2024

    (unaudited)

    Backlog:

    Units

     

    Average Sales Price

    Southeast

    1,933

     

    $

    421,208

    Mid-Atlantic

     

    1,202

     

     

     

    490,623

     

    Midwest

     

    1,389

     

     

     

    660,881

     

    Total

     

    4,524

     

     

    $

    513,238

     

    Full Year 2024 Outlook

    Dream Finders Homes maintains its guidance of approximately 8,250 home closings for the full year 2024, inclusive of the Crescent Homes acquisition.

    About Dream Finders Homes, Inc.

    Dream Finders Homes (NYSE:DFH) is a homebuilder based in Jacksonville, FL. Dream Finders Homes builds single-family homes throughout the Southeast, Mid-Atlantic and Midwest, including Florida, Texas, Tennessee, North Carolina, South Carolina, Georgia, Colorado, and the Washington, D.C. metropolitan area, which comprises Northern Virginia and Maryland. Through its financial services joint ventures, DFH also provides mortgage financing and title services to homebuyers. Dream Finders Homes achieves its industry-leading growth and returns by maintaining an asset-light homebuilding model. For more information, please visit www.dreamfindershomes.com.

    Forward-Looking Statements

    This press release includes forward-looking statements regarding future events, including projected 2024 home closings and market conditions, possible or assumed future results of operations, benefits of the Crescent Homes acquisition, and statements regarding the Company's strategies and expectations as they relate to market opportunities and growth. All forward-looking statements are based on Dream Finders Homes' beliefs as well as assumptions made by and information currently available to Dream Finders Homes. These statements reflect Dream Finders Homes' current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in Dream Finders Homes' Annual Report on Form 10-K for the year ended December 31, 2023, and other filings with the U.S. Securities and Exchange Commission. Dream Finders Homes undertakes no obligation to update or revise any forward-looking statement except as may be required by applicable law.

    Dream Finders Homes, Inc.

    Condensed Consolidated Balance Sheets

    (In thousands, except share and per share amounts)

    (Unaudited)

     

     

     

    March 31,

    2024

     

    December 31,

    2023

    Assets

     

     

     

     

    Cash and cash equivalents

     

    $

    239,428

     

    $

    494,145

    Restricted cash

     

     

    28,392

     

     

     

    54,311

     

    Accounts receivable

     

     

    28,213

     

     

     

    30,874

     

    Inventories

     

     

    1,733,488

     

     

     

    1,440,249

     

    Lot deposits

     

     

    268,074

     

     

     

    247,207

     

    Other assets

     

     

    68,317

     

     

     

    80,759

     

    Investments in unconsolidated entities

     

     

    17,688

     

     

     

    15,364

     

    Property and equipment, net

     

     

    8,275

     

     

     

    7,043

     

    Right-of-use assets

     

     

    19,986

     

     

     

    20,280

     

    Goodwill

     

     

    305,068

     

     

     

    172,207

     

    Total assets

     

    $

    2,716,929

     

     

    $

    2,562,439

     

     

     

     

     

     

    Liabilities

     

     

     

     

    Accounts payable

     

    $

    144,466

     

     

    $

    134,115

     

    Accrued expenses

     

     

    113,808

     

     

     

    207,389

     

    Customer deposits

     

     

    169,291

     

     

     

    172,574

     

    Construction lines of credit

     

     

    710,288

     

     

     

    530,384

     

    Senior unsecured notes, net

     

     

    294,243

     

     

     

    293,918

     

    Lease liabilities

     

     

    20,842

     

     

     

    21,114

     

    Contingent consideration

     

     

    112,956

     

     

     

    116,795

     

    Total liabilities

     

    $

    1,565,894

     

     

    $

    1,476,289

     

    Mezzanine Equity

     

     

     

     

    Redeemable preferred stock

     

     

    148,500

     

     

     

    148,500

     

    Redeemable noncontrolling interest

     

     

    28,533

     

     

     

    —

     

    Equity

     

     

     

     

    Class A common stock, $0.01 per share, 289,000,000 authorized, 34,419,949 and $32,882,124 outstanding as of March 31, 2024 and December 31, 2023, respectively

     

     

    344

     

     

     

    329

     

    Class B common stock, $0.01 per share, 61,000,000 authorized, 59,226,153 and $60,226,153 outstanding as of March 31, 2024 and December 31, 2023, respectively

     

     

    592

     

     

     

    602

     

    Additional paid-in capital

     

     

    268,242

     

     

     

    275,241

     

    Retained earnings

     

     

    699,531

     

     

     

    648,412

     

    Total Dream Finders Homes, Inc. stockholders' equity

     

     

    968,709

     

     

     

    924,584

     

    Noncontrolling interests

     

     

    5,293

     

     

     

    13,066

     

    Total equity

     

     

    974,002

     

     

     

    937,650

     

    Total liabilities, mezzanine equity and equity

     

    $

    2,716,929

     

     

    $

    2,562,439

     

     

    Dream Finders Homes, Inc.

    Condensed Consolidated Statements of Comprehensive Income

    (In thousands, except share and per share amounts)

    (Unaudited)

     

     

     

    Three Months Ended

    March 31,

     

     

     

    2024

     

     

     

    2023

     

    Revenues:

     

     

     

     

    Homebuilding

     

    $

    825,221

     

     

    $

    767,476

     

    Other

     

     

    2,579

     

     

     

    1,944

     

    Total revenues

     

     

    827,800

     

     

     

    769,420

     

    Homebuilding cost of sales

     

     

    678,640

     

     

     

    637,344

     

    Selling, general and administrative expense

     

     

    81,793

     

     

     

    60,761

     

    Income from unconsolidated entities

     

     

    (4,903

    )

     

     

    (2,958

    )

    Contingent consideration revaluation

     

     

    3,207

     

     

     

    5,316

     

    Other income, net

     

     

    (1,761

    )

     

     

    (430

    )

    Income before taxes

     

     

    70,824

     

     

     

    69,387

     

    Income tax expense

     

     

    (15,141

    )

     

     

    (17,636

    )

    Net and comprehensive income

     

     

    55,683

     

     

     

    51,751

     

    Net and comprehensive income attributable to noncontrolling interests

     

     

    (1,189

    )

     

     

    (2,662

    )

    Net and comprehensive income attributable to Dream Finders Homes, Inc.

     

    $

    54,494

     

     

    $

    49,089

     

     

     

     

     

     

    Earnings per share

     

     

     

     

    Basic

     

    $

    0.55

     

     

    $

    0.49

     

    Diluted

     

    $

    0.55

     

     

    $

    0.45

     

     

     

     

     

     

    Weighted-average number of shares

     

     

     

     

    Basic

     

     

    93,325,838

     

     

     

    92,940,291

     

    Diluted

     

     

    99,935,524

     

     

     

    108,822,306

     

     

    Dream Finders Homes, Inc.

    Other Financial and Operating Data

    (Unaudited)

     

     

     

    Three Months Ended

    March 31,

     

     

     

    2024

     

     

     

    2023

     

    Other Financial and Operating Data

     

     

     

     

    Home closings

     

     

    1,655

     

     

     

    1,517

     

    Average sales price of homes closed(1)

     

    $

    494,995

     

     

    $

    490,553

     

    Net new orders

     

     

    1,724

     

     

     

    1,448

     

    Cancellation rate

     

     

    21.0

    %

     

     

    20.9

    %

    Gross margin (in thousands)(2)

     

    $

    146,581

     

     

    $

    130,132

     

    Gross margin %(3)

     

     

    17.8

    %

     

     

    17.0

    %

    Adjusted gross margin (in thousands)(4)

     

    $

    217,213

     

     

    $

    186,193

     

    Adjusted gross margin %(3)(4)

     

     

    26.3

    %

     

     

    24.3

    %

    Active communities(5)

     

     

    232

     

     

     

    220

     

    Backlog - units

     

     

    4,524

     

     

     

    5,479

     

    Backlog - value (in thousands)

     

    $

    2,321,889

     

     

    $

    2,534,354

     

    Return on participating equity(6)

     

     

    34.9

    %

     

     

    46.0

    %

    Net debt to net capitalization(7)

     

     

    39.9

    %

     

     

    43.3

    %

    (1)

     

    Average sales price of homes closed is calculated based on homebuilding revenues, adjusted for the impact of percentage of completion revenues, and excluding deposit forfeitures and land sales, over homes closed.

    (2)

     

    Gross margin is homebuilding revenues less homebuilding cost of sales.

    (3)

     

    Calculated as a percentage of homebuilding revenues.

    (4)

     

    Adjusted gross margin is a non-GAAP financial measure. For a definition of this non-GAAP financial measures and a reconciliation to our most directly comparable financial measure calculated and presented in accordance with GAAP, see "Reconciliation of Non-GAAP Financial Measures."

    (5)

     

    A community becomes active once the model is completed or the community has its fifth net new order. A community becomes inactive when it has fewer than five units remaining to sell.

    (6)

     

    Return on participating equity is calculated as net income attributable to DFH, less redeemable preferred stock distributions, divided by average beginning and ending total Dream Finders Homes, Inc. stockholders' equity ("participating equity") for the trailing twelve months.

    (7)

     

    Net debt to net capitalization is defined as the sum of the senior unsecured notes, net and construction lines of credit, less cash and cash equivalents ("net debt"), divided by the sum of net debt, total mezzanine equity and total equity.

     

    Three Months Ended

    March 31,

     

    2024

    (unaudited)

     

    2023

    (unaudited)

    Home Closings:

    Units

     

    Average

    Sales Price

     

    Units

     

    Average

    Sales Price

    Southeast

    578

     

    $

    473,608

     

    634

     

    $

    450,188

    Mid-Atlantic

     

    491

     

     

     

    425,452

     

     

     

    370

     

     

     

    364,679

     

    Midwest

     

    586

     

     

     

    574,359

     

     

     

    513

     

     

     

    631,224

     

    Total

     

    1,655

     

     

    $

    494,995

     

     

     

    1,517

     

     

    $

    490,553

     

     

    Reconciliation of Non-GAAP Financial Measures

    The following table presents a reconciliation of adjusted gross margin to the GAAP financial measure of gross margin for each of the periods indicated (unaudited and in thousands, except percentages):

     

    Three Months Ended

    March 31,

     

     

    2024

     

     

     

    2023

     

    Gross margin(1)

    $

    146,581

     

     

    $

    130,132

     

    Interest expense in homebuilding cost of sales(2)

     

    30,742

     

     

     

    22,419

     

    Amortization in homebuilding cost of sales(3)

     

    4,582

     

     

     

    —

     

    Commission expense

     

    35,308

     

     

     

    33,642

     

    Adjusted gross margin

    $

    217,213

     

     

    $

    186,193

     

    Gross margin %(4)

     

    17.8

    %

     

     

    17.0

    %

    Adjusted gross margin %(4)

     

    26.3

    %

     

     

    24.3

    %

    (1)

     

    Gross margin is homebuilding revenues less homebuilding cost of sales.

    (2)

     

    Includes interest charged to homebuilding cost of sales related to our construction lines of credit and senior unsecured notes, net, as well as lot option fees.

    (3)

     

    Represents amortization of purchase accounting adjustments from the Crescent Homes acquisition.

    (4)

     

    Calculated as a percentage of homebuilding revenues.

    Adjusted gross margin is a non-GAAP financial measure used by management as a supplemental measure in evaluating operating performance. The Company defines adjusted gross margin as gross margin excluding the effects of capitalized interest, lot option fees, amortization included in homebuilding cost of sales (adjustments resulting from the application of purchase accounting in connection with acquisitions) and commission expense. Management believes this information is meaningful because it isolates the impact that these excluded items have on gross margin. The Company includes internal and external commission expense in homebuilding cost of sales, not selling, general and administrative expense, and therefore commission expense is taken into account in gross margin. As a result, in order to provide a meaningful comparison to the public company homebuilders that include commission expense below the gross margin line in selling, general and administrative expense, commission expense has been excluded from adjusted gross margin. However, because adjusted gross margin information excludes capitalized interest, lot option fees, purchase accounting amortization and commission expense, which have real economic effects and could impact our results of operations, the utility of adjusted gross margin information as a measure of operating performance may be limited. In addition, other companies may not calculate adjusted gross margin information in the same manner. Accordingly, adjusted gross margin information should be considered only as a supplement to gross margin information as a measure of performance.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240502413900/en/

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    • Dream Finders Homes Announces New Home Community of Bungalow Walk at Waterside in Lakewood Ranch, Florida

      Increases Dream Finders Tampa Presence in Top-Selling Lakewood Ranch Following January Launch of Regional Division Dream Finders Homes, Inc. (the "Company", "Dream Finders Homes", "Dream Finders" or "DFH") (NYSE:DFH), the Jacksonville-based national homebuilder ranked as one of the fastest-growing U.S. companies, announced today the development of its new home community, Bungalow Walk at Waterside, in Lakewood Ranch ("Bungalow Walk at Waterside"). Following the Company's early 2024 announcement of its division opening in Tampa, Dream Finders has accelerated the expansion of this division's footprint to meet the population growth and relocation demand to the Tampa Bay area. The Company's n

      3/21/24 4:15:00 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes Acquires the Assets of Crescent Homes

      Dream Finders Homes, Inc. (the "Company", "Dream Finders Homes", "Dream Finders" or "DFH") (NYSE:DFH) announced today that it has acquired the core homebuilding assets of privately held homebuilder, Crescent Ventures, LLC ("Crescent Homes" or "Crescent"). The acquisition will meaningfully enhance Dream Finders' geographic footprint and allow the Company to expand into the markets of Charleston and Greenville, South Carolina, and Nashville, Tennessee. Assets acquired include 457 homesites in varying stages of construction, a sales order backlog of approximately 460 homes with a value in excess of $265 million, and approximately 6,200 lots under control. Patrick Zalupski, Dream Finders' C

      2/2/24 8:30:00 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Announces First Quarter 2025 Results

      First Quarter Homebuilding Revenues Increased 18% Home Closings Up 16%; Homebuilding Gross Margin Up 140 bps to 19.2% Return on Participating Equity of 28.5% Dream Finders Homes, Inc. (the "Company", "Dream Finders Homes", "Dream Finders" or "DFH") (NYSE:DFH) announced its financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights (As Compared to First Quarter 2024) Homebuilding revenues increased 18% to $970 million from $825 million Home closings increased 16% to 1,925 from 1,655 Net new orders increased 18% to 2,032 from 1,724 Homebuilding gross margin of 19.2% compared to 17.8% Adjusted homebuilding gross margin (non-GAAP) of 27.8% compared

      5/6/25 7:00:00 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes Closes Acquisition of the Homebuilding Assets of Green River Builders, Inc. in Atlanta

      Dream Finders Homes, Inc. (the "Company", "Dream Finders" or "DFH") (NYSE:DFH) today announced that it has completed the acquisition of the majority of the homebuilding assets of Green River Builders, Inc. in Atlanta, Georgia ( "Green River Builders"). This acquisition strengthens Dream Finders' existing footprint within the Atlanta homebuilding market, one of the largest and fastest-growing in the United States. The acquisition was formally closed on May 2, 2025. Patrick Zalupski, Dream Finders' Chairman and CEO, said: "We are excited to partner with Brian Hurley and the Green River Builders team as we continue to invest in the growing Atlanta market. This acquisition and partnership with

      5/5/25 8:00:00 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes Completes Acquisition of Cherry Creek Mortgage Through Its Wholly Owned Subsidiary, Jet HomeLoans

      Dream Finders Homes, Inc. (the "Company", "Dream Finders Homes", "Dream Finders" or "DFH") (NYSE:DFH) announced the acquisition of Cherry Creek Mortgage, LLC ("Cherry Creek") through its wholly owned subsidiary, Jet HomeLoans, LP ("Jet HomeLoans"). Cherry Creek is a Freddie Mac and GNMA-approved lender that specializes in the origination of mortgage loans to support new build construction lending. The acquisition was formally closed on March 4, 2025, marking a significant expansion in Jet HomeLoans' servicing capabilities. Founded in 1986, Cherry Creek became one of the nation's preeminent mortgage lending platforms from their headquarters in Denver, Colorado. Under the leadership of found

      3/7/25 5:51:00 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary

    $DFH
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    • Dream Finders Announces First Quarter 2025 Results

      First Quarter Homebuilding Revenues Increased 18% Home Closings Up 16%; Homebuilding Gross Margin Up 140 bps to 19.2% Return on Participating Equity of 28.5% Dream Finders Homes, Inc. (the "Company", "Dream Finders Homes", "Dream Finders" or "DFH") (NYSE:DFH) announced its financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights (As Compared to First Quarter 2024) Homebuilding revenues increased 18% to $970 million from $825 million Home closings increased 16% to 1,925 from 1,655 Net new orders increased 18% to 2,032 from 1,724 Homebuilding gross margin of 19.2% compared to 17.8% Adjusted homebuilding gross margin (non-GAAP) of 27.8% compared

      5/6/25 7:00:00 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes Closes Acquisition of the Homebuilding Assets of Green River Builders, Inc. in Atlanta

      Dream Finders Homes, Inc. (the "Company", "Dream Finders" or "DFH") (NYSE:DFH) today announced that it has completed the acquisition of the majority of the homebuilding assets of Green River Builders, Inc. in Atlanta, Georgia ( "Green River Builders"). This acquisition strengthens Dream Finders' existing footprint within the Atlanta homebuilding market, one of the largest and fastest-growing in the United States. The acquisition was formally closed on May 2, 2025. Patrick Zalupski, Dream Finders' Chairman and CEO, said: "We are excited to partner with Brian Hurley and the Green River Builders team as we continue to invest in the growing Atlanta market. This acquisition and partnership with

      5/5/25 8:00:00 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes Announces the Closing of its Acquisition of Alliant National Title Insurance Company, Inc.

      Dream Finders Homes, Inc. (the "Company", "Dream Finders" or "DFH") (NYSE:DFH) announced today that it has closed on its acquisition of Alliant National Title Insurance Company, Inc. ("Alliant National") and a related affiliate after the initial deal announcement on October 23, 2024. The acquisition was formally closed on April 18, 2025. This acquisition represents a significant expansion of Dream Finders' financial services capabilities, as Alliant National underwrites title insurance policies with more than 700 independent agents in 32 states and the District of Columbia. Patrick Zalupski, Dream Finders' Chairman and CEO, said, "We are pleased to close on this transaction and formally w

      4/21/25 8:00:00 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary

    $DFH
    Insider Trading

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    • President and CEO Zalupski Patrick O. covered exercise/tax liability with 13,927 shares, decreasing direct ownership by 0.68% to 2,020,355 units (SEC Form 4)

      4 - Dream Finders Homes, Inc. (0001825088) (Issuer)

      4/2/25 6:04:22 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Senior VP and CFO Ramsay Lorena Anabel covered exercise/tax liability with 3,842 shares, decreasing direct ownership by 2% to 180,371 units (SEC Form 4)

      4 - Dream Finders Homes, Inc. (0001825088) (Issuer)

      4/2/25 6:01:27 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Director Lovett William Radford Ii sold $2,649,589 worth of shares (109,427 units at $24.21) (SEC Form 4)

      4 - Dream Finders Homes, Inc. (0001825088) (Issuer)

      3/21/25 6:06:11 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary

    $DFH
    Analyst Ratings

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    • Dream Finders Homes downgraded by RBC Capital Mkts with a new price target

      RBC Capital Mkts downgraded Dream Finders Homes from Sector Perform to Underperform and set a new price target of $8.00

      1/13/23 7:24:53 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes upgraded by BofA Securities with a new price target

      BofA Securities upgraded Dream Finders Homes from Underperform to Neutral and set a new price target of $12.00 from $10.50 previously

      8/25/22 7:37:46 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes downgraded by BofA Securities with a new price target

      BofA Securities downgraded Dream Finders Homes from Neutral to Underperform and set a new price target of $10.50 from $18.00 previously

      6/17/22 7:25:45 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary