Smith Douglas Homes Q2 Results Above View ; Stock Up In Pre-market

(RTTNews) - Smith Douglas Homes Corp. (SDHC), a home builder that debuted on NYSE in January this year, Wednesday reported second-quarter results above analysts' view. Shares were up more than 8 percent in pre-market to 35.30.

Net income attributable to Smith Douglas Homes was $3.65 million or $0.40 per share, above the average analysts estimates of $0.37 per share. Analysts' estimates typically exclude one-time items.

Net income for the quarter was $24.73 million, down from $30.74 million last year.

Home closing revenue increased to $220.93 million from $181.52 million in the previous year. The consensus estimate was for $209.14 million.

Smith Douglas Homes stock had closed at $32.56, up 2.29 percent on Tuesday. It has traded in the range of $20.55 - $34.20 in the last 1 year.