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DENVER, April 29, 2021 /PRNewswire/ M.D.C Holdings, Inc. (NYSE: MDC), one of the nation s leading homebuilders, announced results for the quarter ended March 31, 2021.
Larry A. Mizel, MDC s Executive Chairman, stated, MDC delivered another quarter of strong profitability, generating net income of $111 million, or $1.51 per diluted share. Home sale revenues grew 49% year-over-year on a 41% increase in closings and 6% rise in average selling prices. We continue to see heightened demand for our homes, as evidenced by the 34% year-over-year increase to unit orders for the quarter. The only constraint to our sales efforts are ones that we are imposing on ourselves, in an effort to balance orders and pricing to best manage our backlog. These efforts resulted in a 200 basis point expansion to our gross margin from home sales in the quarter to 21.9%. We have also been successful in leveraging our overhead expenses, lowering our SG&A ratio by 180 ba
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DENVER, Feb. 2, 2021 /PRNewswire/ M.D.C Holdings, Inc. (NYSE: MDC), one of the nation s leading homebuilders, announced results for the quarter and full year ended December 31, 2020.
Larry A. Mizel, MDC s Executive Chairman, stated, MDC delivered another quarter of significant order growth and strong profitability in the fourth quarter of 2020. The dollar value of our net orders for the quarter increased 92% year-over-year on a 67% improvement in sales pace, as we continued to see broad-based strength in demand from both a geographic and a product standpoint. Net income rose 59% to $147.5 million, based on the significant growth of both our homebuilding and our financial services operations.