Smith Douglas Homes to Present at Wolfe Research Housing Conference, Reports February Year-to-Date Net Orders, Home Closings and Backlog Homes
Smith Douglas Homes Corp. (NYSE: SDHC) today announced that it will participate in the Wolfe Research Housing Conference on March 5, 2024, in New York, NY. Russ Devendorf, Executive Vice President and Chief Financial Officer will host one-on-one meetings with institutional investors throughout the day.
Smith Douglas Homes also announced its orders and closings results for the two months ended February 29, 2024. The company reported 484 net new orders, up 13.9% from the same period last year, and 335 home closings, up 18.0% from the same period last year. The company also ended February with 1,061 homes in backlog, up 16.3% from the same period last year.
About Smith Douglas Homes
Headquartered in Atlanta, Georgia, Smith Douglas Homes completed its initial public offering in January 2024. Since its inception, Smith Douglas has been entrusted by over 13,000 families to fulfill their new home dreams. Ranked a top 50 builder nationally for several years and with 2,297 closings in 2023, Smith Douglas currently holds the #38 position on the Builder Magazine Top 100 list. The Smith Douglas communities are primarily targeted to entry-level and empty-nest homebuyers looking to purchase a new home priced below the Federal Housing Administration loan limit in the metro areas of Atlanta, Birmingham, Charlotte, Houston, Huntsville, Nashville, and Raleigh. Smith Douglas offers its homebuyers a personalized, affordable-luxury buying experience at attractive prices.
Financial Disclosure Advisory
The information regarding year-to-date sales and closings results, net new orders, and homes in backlog provided in this press release are based on preliminary unaudited information and management estimates as of February 29, 2024 and are subject to completion of the Company's financial closing procedures following the end of the quarter ending March 31, 2024. The Company's independent registered public accounting firm has not conducted an audit or review of and does not express an opinion or any other form of assurance with respect to these preliminary estimates.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our preliminary operating results, the housing market, our operations, our competitive edge, and our profitability. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the factors discussed under the caption "Risk Factors" in our final prospectus, filed with the Securities and Exchange Commission on January 10, 2024 pursuant to Rule 424(b)(4) relating to our registration statement on Form S-1 (File No. 333-274379), as amended, filed in connection with our initial public offering. These forward-looking statements are based on management's current estimates and expectations. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
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