• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Dream Finders Announces Third Quarter 2024 Results

    10/31/24 7:00:00 AM ET
    $DFH
    Homebuilding
    Consumer Discretionary
    Get the next $DFH alert in real time by email

    Third Quarter Revenues of $1 Billion

    Homebuilding Revenues Up 10%, Net New Orders Up 9%

    Return on Participating Equity of 30.4%

    Dream Finders Homes, Inc. (the "Company", "Dream Finders Homes", "Dream Finders" or "DFH") (NYSE:DFH) announced its financial results for the third quarter ended September 30, 2024.

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

    • Homebuilding revenues increased 10% to $986 million from $894 million
    • Home closings increased 5% to 1,889 from 1,798
    • Net new orders increased 9% to 1,680 from 1,535
    • Average sales price of homes closed increased 3% to $518,553 from $501,536
    • Homebuilding gross margin of 19.2% compared to 20.6%
    • Adjusted homebuilding gross margin (non-GAAP) of 27.6% compared to 28.4%
    • Pre-tax income decreased 11% to $92 million from $104 million
    • Net income attributable to DFH decreased 7% to $71 million, or $0.72 per basic share, from $76 million, or $0.79 per basic share
    • Active community count of 235 as of September 30, 2024
    • Backlog of 3,996 sold homes as of September 30, 2024, valued at $2.0 billion
    • Controlled lot pipeline of 44,825 as of September 30, 2024, compared to 30,614 as of September 30, 2023
    • Total liquidity, comprised of cash and cash equivalents and availability under the revolving credit facility, of $493 million as of September 30, 2024
    • Net homebuilding debt to net capitalization (non-GAAP) of 45.6% as of September 30, 2024, compared to 34.5% as of September 30, 2023
    • Return on participating equity of 30.4% for the trailing twelve months ended September 30, 2024, compared to 38.9% for the trailing twelve months ended September 30, 2023
    • Repurchased 180,164 Class A common shares for $5 million during the three months ended September 30, 2024

    Management Commentary

    Patrick Zalupski, Dream Finders Homes Chairman and CEO, said, "In the third quarter, Dream Finders continued to demonstrate our focus on long-term growth objectives. We delivered homebuilding revenue growth of 10%, along with increased home closings and net sales of 5% and 9%, respectively, compared to the prior year quarter. While we experienced some margin erosion in Q3, we are more focused on maintaining our growth expectations.

    We completed our acquisition of Jet HomeLoans on July 1, 2024, our sixth acquisition in five years. This deal was immediately accretive, contributing revenues of $16 million and pre-tax profitability of $7 million in the third quarter. Now having 100% control of this entity, we look to grow this business line into a highly profitable segment for DFH.

    During the third quarter, we repurchased 180,164 shares of our class A common stock under our approved buyback program. In addition to investing in the growth and scale of our business, we remain committed to our capital allocation strategy, which includes buying back shares when we believe there is an attractive disconnect between the market price and the intrinsic value of the shares. We will remain opportunistic in all facets of growing the per share returns of DFH.

    We are focused on closing out another successful year in 2024 while also hard at work building long-term value for 2025 and beyond. We reiterate our guidance of 8,250 closings for the full year 2024."

    Acquisition of Jet HomeLoans

    On July 1, 2024, we acquired the remaining 40% equity interest in the previously unconsolidated mortgage joint venture, Jet HomeLoans, which is now consolidated as of that date in the Company's financial statements. Jet HomeLoans continues to be included in the Company's Financial Services segment for segment reporting purposes. Jet HomeLoans contributed financial services revenue of $16 million in the third quarter of 2024.

    Third Quarter 2024 Results

    Homebuilding revenues in the third quarter of 2024 increased 10% to $986 million, compared to $894 million in the third quarter of 2023. Average sales price ("ASP") of homes closed for the third quarter of 2024 was $518,553, an increase of 3% compared to the prior year quarter ASP of $501,536. Home closings increased 5% to 1,889 compared to 1,798 in the third quarter of 2023. The growth in homebuilding revenue during the third quarter of 2024 when compared to the third quarter of 2023 was primarily due to the increase in home closings, as well as higher ASP, both largely due to the February 2024 Crescent Homes acquisition. Crescent Homes contributed 223 closings with an ASP of $554,231 during the third quarter of 2024. Additionally, the increased use of sales incentives during the third quarter of 2024 had a partially offsetting impact on our homebuilding revenue growth.

    Homebuilding gross margin in the third quarter of 2024 was 19.2%, a decrease of 140 bps, compared to 20.6% in the third quarter of 2023. The slight decline in homebuilding gross margin for the third quarter of 2024 was mostly the result of higher land and financing costs, offset by direct cost reductions and, to a lesser extent, continued improvements in cycle times.

    Adjusted homebuilding gross margin in the third quarter of 2024 was 27.6%, a decrease of 80 bps from the third quarter 2023 adjusted homebuilding gross margin of 28.4%. Adjusted homebuilding gross margin is a non-GAAP financial measure. See "Reconciliation of Non-GAAP Financial Measures."

    Selling, general and administrative expense ("SG&A") in the third quarter of 2024 increased 30% to $102 million, compared to $79 million in the third quarter of 2023. SG&A as a percentage of homebuilding revenues in the third quarter of 2024 increased 150 bps to 10.3% compared to 8.8% in the third quarter of 2023. The increase was primarily attributable to costs associated with forward mortgage commitment programs which allow our homebuyers to lock in their mortgage interest rates at the time of sale, as well as higher compensation costs as we continue to expand our operations.

    Net income attributable to DFH in the third quarter of 2024 decreased 7% to $71 million, or $0.72 per basic share, from $76 million, or $0.79 per basic share in the third quarter of 2023. Aside from the operational results discussed above, the decrease was partially offset by a related decrease in income tax expense and, to a lesser extent, a reduction in contingent consideration expense in the third quarter of 2024 compared to the prior year quarter. As of September 30, 2024, the earnout period for the H&H acquisition concluded and the final payment is due in the fourth quarter of 2024.

    Net new orders in the third quarter of 2024 were 1,680, an increase of 9% compared to 1,535 net new orders for the third quarter of 2023. The cancellation rate in the third quarter of 2024 was 13.8%, an improvement of 110 bps compared with the third quarter of 2023 cancellation rate of 14.9%. We believe the increase in net new orders and our lowered cancellation rate are reflective of our successful sales incentives and availability of quick, move-in-ready homes in our communities.

    Our total available liquidity as of September 30, 2024 was $493 million, including $205 million of unrestricted operating cash. In addition, net homebuilding debt to net capitalization as of September 30, 2024 was 45.6%. Net homebuilding debt to net capitalization is a non-GAAP financial measure. See "Reconciliation of Non-GAAP Financial Measures." During the first nine months of 2024, we released a significant number of housing starts and purchased additional lots for production, increasing our investment in inventory by $620 million since the end of 2023. This directly impacted our net homebuilding debt to net capitalization ratio and liquidity as we prepared to deliver our homes for the remainder of the year and in order to maintain an active pipeline of quick, move-in-ready homes.

    Third Quarter 2024 Backlog

    As of September 30, 2024, DFH had a backlog of 3,996 homes, valued at $2.0 billion, compared to the backlog of 4,205 homes, valued at $2.1 billion as of June 30, 2024. As of September 30, 2024, the ASP in backlog was $501,524 compared to $505,022 as of June 30, 2024. As of September 30, 2024, approximately 1,858 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 September 30, 2024 by homebuilding segment:

     

    As of September 30, 2024

    (unaudited)

    Backlog:

    Units

     

    Average Sales Price

    Southeast

    1,645

     

    $

    409,100

    Mid-Atlantic

    1,109

     

     

    461,822

    Midwest

    1,242

     

     

    659,389

    Total

    3,996

     

    $

    501,524

    Full Year 2024 Outlook

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

    About Dream Finders Homes, Inc.

    Dream Finders Homes (NYSE:DFH) is a homebuilder based in Jacksonville, Florida. 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 wholly owned subsidiaries, 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 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, subsequently filed Form 10-Qs 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)

     

     

     

    September 30,

    2024

     

    December 31,

    2023

    Assets

     

     

     

     

    Cash and cash equivalents

     

    $

    204,906

     

     

    $

    494,145

    Restricted cash

     

     

    27,942

     

     

     

    54,311

    Accounts receivable

     

     

    30,202

     

     

     

    30,874

    Inventories

     

     

    2,060,168

     

     

     

    1,440,249

    Lot deposits

     

     

    367,893

     

     

     

    247,207

    Other assets

     

     

    105,578

     

     

     

    80,759

    Investments in unconsolidated entities

     

     

    6,558

     

     

     

    15,364

    Mortgage loans held for sale

     

     

    177,610

     

     

     

    —

    Property and equipment, net

     

     

    24,898

     

     

     

    7,043

    Right-of-use assets

     

     

    18,592

     

     

     

    20,280

    Goodwill

     

     

    300,313

     

     

     

    172,207

    Total assets

     

    $

    3,324,660

     

     

    $

    2,562,439

     

     

     

     

     

    Liabilities

     

     

     

     

    Accounts payable

     

    $

    168,982

     

     

    $

    134,115

    Accrued expenses

     

     

    186,667

     

     

     

    207,389

    Customer deposits

     

     

    130,199

     

     

     

    172,574

    Construction lines of credit

     

     

    991,208

     

     

     

    530,384

    Senior unsecured notes, net

     

     

    294,713

     

     

     

    293,918

    Mortgage warehouse facilities

     

     

    170,167

     

     

     

    —

    Lease liabilities

     

     

    19,515

     

     

     

    21,114

    Contingent consideration

     

     

    73,497

     

     

     

    116,795

    Total liabilities

     

    $

    2,034,948

     

     

    $

    1,476,289

    Mezzanine Equity

     

     

     

     

    Redeemable preferred stock

     

     

    148,500

     

     

     

    148,500

    Redeemable noncontrolling interest

     

     

    21,451

     

     

     

    —

    Equity

     

     

     

     

    Class A common stock, $0.01 per share, 289,000,000 authorized, 34,502,077 and 32,882,124 issued as of September 30, 2024 and December 31, 2023, respectively

     

     

    345

     

     

     

    329

    Class B common stock, $0.01 per share, 61,000,000 authorized, 59,226,153 and 60,226,153 issued as of September 30, 2024 and December 31, 2023, respectively

     

     

    592

     

     

     

    602

    Additional paid-in capital

     

     

    276,431

     

     

     

    275,241

    Retained earnings

     

     

    844,375

     

     

     

    648,412

    Treasury stock, at cost, 251,997 shares of Class A common stock as of September 30, 2024

     

     

    (6,670

    )

     

     

    —

    Total Dream Finders Homes, Inc. stockholders' equity

     

     

    1,115,073

     

     

     

    924,584

    Noncontrolling interests

     

     

    4,688

     

     

     

    13,066

    Total equity

     

     

    1,119,761

     

     

     

    937,650

    Total liabilities, mezzanine equity and equity

     

    $

    3,324,660

     

     

    $

    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

    September 30,

     

    Nine Months Ended

    September 30,

     

     

    2024

     

    2023

     

    2024

     

    2023

    Revenues:

     

     

     

     

     

     

     

     

    Homebuilding

     

    $

    986,257

     

     

    $

    893,502

     

     

    $

    2,863,714

     

     

    $

    2,603,858

     

    Financial services

     

     

    20,612

     

     

     

    2,328

     

     

     

    27,140

     

     

     

    6,731

     

    Total revenues

     

     

    1,006,869

     

     

     

    895,830

     

     

     

    2,890,854

     

     

     

    2,610,589

     

    Homebuilding cost of sales

     

     

    797,110

     

     

     

    709,286

     

     

     

    2,328,587

     

     

     

    2,109,485

     

    Financial services expenses

     

     

    12,156

     

     

     

    1,449

     

     

     

    16,254

     

     

     

    3,885

     

    Selling, general and administrative expense

     

     

    101,886

     

     

     

    78,514

     

     

     

    278,945

     

     

     

    210,548

     

    Income from unconsolidated entities

     

     

    (99

    )

     

     

    (4,557

    )

     

     

    (10,301

    )

     

     

    (12,219

    )

    Contingent consideration revaluation

     

     

    5,948

     

     

     

    9,026

     

     

     

    13,793

     

     

     

    32,608

     

    Other income, net

     

     

    (2,556

    )

     

     

    (1,646

    )

     

     

    (5,680

    )

     

     

    (2,711

    )

    Income before taxes

     

     

    92,424

     

     

     

    103,758

     

     

     

    269,256

     

     

     

    268,993

     

    Income tax expense

     

     

    (20,780

    )

     

     

    (24,158

    )

     

     

    (59,166

    )

     

     

    (66,000

    )

    Net and comprehensive income

     

     

    71,644

     

     

     

    79,600

     

     

     

    210,090

     

     

     

    202,993

     

    Net and comprehensive income attributable to noncontrolling interests

     

     

    (993

    )

     

     

    (3,503

    )

     

     

    (4,002

    )

     

     

    (9,043

    )

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

     

    $

    70,651

     

     

    $

    76,097

     

     

    $

    206,088

     

     

    $

    193,950

     

     

     

     

     

     

     

     

     

     

    Earnings per share

     

     

     

     

     

     

     

     

    Basic

     

    $

    0.72

     

     

    $

    0.79

     

     

    $

    2.10

     

     

    $

    1.98

     

    Diluted

     

    $

    0.70

     

     

    $

    0.75

     

     

    $

    2.06

     

     

    $

    1.83

     

     

     

     

     

     

     

     

     

     

    Weighted-average number of shares

     

     

     

     

     

     

     

     

    Basic

     

     

    93,527,205

     

     

     

    93,108,277

     

     

     

    93,399,681

     

     

     

    93,052,507

     

    Diluted

     

     

    100,736,148

     

     

     

    102,052,181

     

     

     

    100,140,134

     

     

     

    105,819,964

     

    Dream Finders Homes, Inc.

    Other Financial and Operating Data

    (Unaudited)

     

     

     

    Three Months Ended

    September 30,

     

    Nine Months Ended

    September 30,

     

     

    2024

     

    2023

     

    2024

     

    2023

    Other Financial and Operating Data

     

     

     

     

     

     

     

     

    Home closings

     

     

    1,889

     

     

     

    1,798

     

     

     

    5,575

     

     

     

    5,161

     

    Average sales price of homes closed(1)

     

    $

    518,553

     

     

    $

    501,536

     

     

    $

    510,204

     

     

    $

    499,433

     

    Net new orders

     

     

    1,680

     

     

     

    1,535

     

     

     

    5,116

     

     

     

    4,638

     

    Cancellation rate

     

     

    13.8

    %

     

     

    14.9

    %

     

     

    15.8

    %

     

     

    17.1

    %

    Homebuilding gross margin (in thousands)(2)

     

    $

    189,147

     

     

    $

    184,216

     

     

    $

    535,127

     

     

    $

    494,373

     

    Homebuilding gross margin %(3)

     

     

    19.2

    %

     

     

    20.6

    %

     

     

    18.7

    %

     

     

    19.0

    %

    Adjusted homebuilding gross margin (in thousands)(4)

     

    $

    272,117

     

     

    $

    254,172

     

     

    $

    773,901

     

     

    $

    696,276

     

    Adjusted homebuilding gross margin %(3)(4)

     

     

    27.6

    %

     

     

    28.4

    %

     

     

    27.0

    %

     

     

    26.7

    %

    Active communities as of period end(5)

     

     

     

     

     

     

    235

     

     

     

    219

     

    Backlog - units

     

     

     

     

     

     

    3,996

     

     

     

    5,025

     

    Backlog - value (in thousands)

     

     

     

     

     

    $

    2,004,091

     

     

    $

    2,410,182

     

    Net homebuilding debt to net capitalization(4)

     

     

     

     

     

     

    45.6

    %

     

     

    34.5

    %

    Return on participating equity(6)

     

     

     

     

     

     

    30.4

    %

     

     

    38.9

    %

    (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)

    Homebuilding gross margin is homebuilding revenues less homebuilding cost of sales.

    (3)

    Calculated as a percentage of homebuilding revenues.

    (4)

    Adjusted homebuilding gross margin and net homebuilding debt to net capitalization are non-GAAP financial measures. For definitions of these non-GAAP financial measures and reconciliations to our most directly comparable financial measures 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 sale. A community becomes inactive when it has fewer than five homesites 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.

     

    Three Months Ended

    September 30,

     

    Nine Months Ended

    September 30,

     

    2024

    (unaudited)

     

    2023

    (unaudited)

     

    2024

    (unaudited)

     

    2023

    (unaudited)

    Home Closings:

    Units

     

    Average

    Sales

    Price

     

    Units

     

    Average

    Sales

    Price

     

    Units

     

    Average

    Sales

    Price

     

    Units

     

    Average

    Sales

    Price

    Southeast

    592

     

    $

    494,163

     

    828

     

    $

    467,896

     

    1,838

     

    $

    492,913

     

    2,261

     

    $

    460,524

    Mid-Atlantic

    603

     

     

    461,320

     

    388

     

     

    407,798

     

    1,704

     

     

    441,184

     

    1,144

     

     

    386,114

    Midwest

    694

     

     

    589,087

     

    582

     

     

    611,886

     

    2,033

     

     

    583,688

     

    1,756

     

     

    623,358

    Total

    1,889

     

    $

    518,553

     

    1,798

     

    $

    501,536

     

    5,575

     

    $

    510,204

     

    5,161

     

    $

    499,433

    Reconciliation of Non-GAAP Financial Measures

    Management utilizes specific non-GAAP financial measures as supplementary tools to evaluate operating performance. These include adjusted homebuilding gross margin and net homebuilding debt to net capitalization. Other companies may not calculate non-GAAP financial measures in the same manner that we do. Accordingly, these non-GAAP financial measures should be considered only as a supplement to relevant GAAP information, as reconciled for each measure below. In the future, we may incorporate additional adjustments to these non-GAAP financial measures as we find them relevant and beneficial for both management and investors.

    Adjusted Homebuilding Gross Margin

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

     

    Three Months Ended

    September 30,

     

    Nine Months Ended

    September 30,

     

    2024

     

    2023

     

    2024

     

    2023

    Homebuilding gross margin(1)

    $

    189,147

     

     

    $

    184,216

     

     

    $

    535,127

     

     

    $

    494,373

     

    Interest expense in homebuilding cost of sales(2)

     

    41,818

     

     

     

    30,369

     

     

     

    114,222

     

     

     

    85,586

     

    Amortization in homebuilding cost of sales(3)

     

    (1,186

    )

     

     

    —

     

     

     

    5,914

     

     

     

    —

     

    Commission expense

     

    42,338

     

     

     

    39,587

     

     

     

    118,638

     

     

     

    116,317

     

    Adjusted homebuilding gross margin

    $

    272,117

     

     

    $

    254,172

     

     

    $

    773,901

     

     

    $

    696,276

     

    Homebuilding gross margin %(4)

     

    19.2

    %

     

     

    20.6

    %

     

     

    18.7

    %

     

     

    19.0

    %

    Adjusted homebuilding gross margin %(4)

     

    27.6

    %

     

     

    28.4

    %

     

     

    27.0

    %

     

     

    26.7

    %

    (1)

    Homebuilding 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.

    We define adjusted homebuilding gross margin as homebuilding 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. Our management believes this information is meaningful because it isolates the impact that these excluded items have on homebuilding gross margin. We include 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 homebuilding gross margin.

    As a result, in order to provide a meaningful comparison to the public company homebuilders that include commission expense below the homebuilding gross margin line in selling, general and administrative expense, we have excluded commission expense from adjusted homebuilding gross margin. However, because adjusted homebuilding 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 homebuilding gross margin information as a measure of our operating performance may be limited.

    Net Homebuilding Debt to Net Capitalization

    The following table presents a reconciliation of net homebuilding debt to net capitalization to the GAAP financial measure of total debt to total capitalization for each of the periods indicated (unaudited and in thousands, except percentages):

     

    As of September 30,

     

    2024

     

    2023

    Total debt

    $

    1,456,088

     

     

    $

    849,116

     

    Total mezzanine equity

     

    169,951

     

     

     

    148,500

     

    Total equity

     

    1,119,761

     

     

     

    837,572

     

    Total capitalization

    $

    2,745,800

     

     

    $

    1,835,188

     

    Total debt to total capitalization

     

    53.0

    %

     

     

    46.3

    %

     

     

     

     

    Total debt

    $

    1,456,088

     

     

    $

    849,116

     

    Less: mortgage warehouse facilities

     

    170,167

     

     

     

    —

     

    Less: cash and cash equivalents

     

    204,906

     

     

     

    330,129

     

    Net homebuilding debt

    $

    1,081,015

     

     

    $

    518,987

     

    Total mezzanine equity

     

    169,951

     

     

     

    148,500

     

    Total equity

     

    1,119,761

     

     

     

    837,572

     

    Net capitalization

    $

    2,370,727

     

     

    $

    1,505,059

     

    Net homebuilding debt to net capitalization

     

    45.6

    %

     

     

    34.5

    %

    We define net homebuilding debt to net capitalization as the sum of construction lines of credit and senior unsecured notes, net less cash and cash equivalents ("net homebuilding debt"), divided by the sum of net homebuilding debt, total mezzanine equity and total equity ("net capitalization"). Net homebuilding debt excludes borrowings under our mortgage warehouse facilities. Management believes the net homebuilding debt to net capitalization is meaningful as it is used to assess our consolidated performance and the performance of our homebuilding segments, as well as to establish targets for performance-based compensation. We also use this ratio as a measure of overall leverage.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20241031911839/en/

    Get the next $DFH alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $DFH

    DatePrice TargetRatingAnalyst
    1/13/2023$8.00Sector Perform → Underperform
    RBC Capital Mkts
    8/25/2022$10.50 → $12.00Underperform → Neutral
    BofA Securities
    6/17/2022$18.00 → $10.50Neutral → Underperform
    BofA Securities
    11/8/2021$18.00Neutral
    BofA Securities
    More analyst ratings

    $DFH
    Leadership Updates

    Live Leadership Updates

    See more
    • Dream Finders Homes Set to Join S&P SmallCap 600

      NEW YORK, Nov. 20, 2024 /PRNewswire/ -- Dream Finders Homes Inc. (NYSE: DFH) will replace Haynes International Inc. (NASD: HAYN) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, November 25. Haynes International is being acquired in a deal expected to close soon pending final closing conditions. Following is a summary of the change that will take place prior to the open of trading on the effective date: Effective Date Index Name       Action Company Name Ticker GICS Sector Nov 25, 2024 S&P SmallCap 600 Addition Dream Finders Homes DFH Consumer Discretionary Nov 25, 2024 S&P SmallCap 600 Deletion Haynes International HAYN Materials For more information about S&P

      11/20/24 6:01:00 PM ET
      $DFH
      $HAYN
      $SPGI
      Homebuilding
      Consumer Discretionary
      Steel/Iron Ore
      Industrials
    • 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

    $DFH
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G filed by Dream Finders Homes Inc.

      SC 13G - Dream Finders Homes, Inc. (0001825088) (Subject)

      11/14/24 3:52:45 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • SEC Form SC 13G filed by Dream Finders Homes Inc.

      SC 13G - Dream Finders Homes, Inc. (0001825088) (Subject)

      11/13/24 5:05:59 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • SEC Form SC 13G filed by Dream Finders Homes Inc.

      SC 13G - Dream Finders Homes, Inc. (0001825088) (Subject)

      11/13/24 5:02:13 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary

    $DFH
    Press Releases

    Fastest customizable press release news feed in the world

    See more

    $DFH
    SEC Filings

    See more

    $DFH
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more

    $DFH
    Financials

    Live finance-specific insights

    See more
    • 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
    • SEC Form 10-Q filed by Dream Finders Homes Inc.

      10-Q - Dream Finders Homes, Inc. (0001825088) (Filer)

      5/6/25 5:03:35 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - Dream Finders Homes, Inc. (0001825088) (Filer)

      5/6/25 8:59:43 AM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • Dream Finders Homes Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - Dream Finders Homes, Inc. (0001825088) (Filer)

      4/21/25 4:26:32 PM ET
      $DFH
      Homebuilding
      Consumer Discretionary
    • 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
    • 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
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • 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