Quarter ended September 30, 2026.
| Closings | 831 (↑5%) |
| Revenue | $262.5M (flat) |
| Gross margin | 16.3% |
| Orders | 777 (↑13%) |
From the call
“Q3 demand did not keep pace with our production, leaving work in process inventory slightly elevated and increasing our spec count.”
Even one of the fastest builders, with builds under 60 days, got caught when starts ran ahead of sales. Starts need to be checked against sales every week, by community.
Source: Smith Douglas Homes 8-K and earnings call.
