The New Home Company Schedules Earnings Conference Call for the 2024 First Quarter
- IRVINE, Calif.--(BUSINESS WIRE)--The New Home Company today announced that the Company will release its financial results for the 2024 first quarter on its confidential data site on Wednesday, February 14, 2024. The Company will also host a conference call beginning at 8:00 AM Pacific Time (11:00 AM Eastern Time) on Thursday, February 22, 2024 to review the results, discuss recent events and conduct a question-and-answer period. The report of quarterly financial information, conference ca.
- 02/13/2024
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The New Home Company Schedules Earnings Conference Call for the 2023 Fourth Quarter
- IRVINE, Calif.--(BUSINESS WIRE)--The New Home Company today announced that the Company will release its financial results for the 2023 fourth quarter on its confidential data site on Wednesday, November 15, 2023. The Company will also host a conference call beginning at 8:00 AM Pacific Time (11:00 AM Eastern Time) on Wednesday, November 15, 2023 to review the results, discuss recent events and conduct a question-and-answer period. The report of quarterly financial information, conference call a.
- 11/07/2023
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The New Home Company Schedules Earnings Conference Call for the 2023 Third Quarter
- IRVINE, Calif.--(BUSINESS WIRE)--The New Home Company today announced that the Company will release its financial results for the 2023 third quarter on its confidential data site on Thursday, July 27, 2023. The Company will also host a conference call beginning at 7:30 AM Pacific Time (10:30 AM Eastern Time) on Thursday, July 27, 2023 to review the results, discuss recent events and conduct a question-and-answer period. The report of quarterly financial information, conference call and webcast.
- 07/21/2023
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The New Home Company Inc. Announces Expiration and Final Results of the Exchange Offer and Consent Solicitation
- IRVINE, Calif.--(BUSINESS WIRE)--The New Home Company Inc. (the “Company”) today announced the expiration and final results of the previously-announced private exchange offer to certain Eligible Holders (as defined herein) (the “Exchange Offer”) for any and all of the Company's outstanding 7.250% Senior Notes due 2025 (the “Existing Notes”) for new 8.250% Senior Notes due 2027 (the “Exchange Notes”) and the related consent solicitation (the “Consent Solicitation”) with respect to the Existing N.
- 06/29/2023
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The New Home Company Inc. Announces Early Tender Results of the Exchange Offer and Consent Solicitation
- IRVINE, Calif.--(BUSINESS WIRE)--The New Home Company Inc. (the “Company”) today announced the early results of the previously-announced private exchange offer to certain Eligible Holders (as defined herein) (the “Exchange Offer”) for any and all of the Company's outstanding 7.250% Senior Notes due 2025 (the “Existing Notes”) for new 8.250% Senior Notes due 2027 (the “Exchange Notes”) and the related consent solicitation (the “Consent Solicitation”) with respect to the Existing Notes, to elimin.
- 06/14/2023
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The New Home Company Inc. Announces Commencement of Exchange Offer and Consent Solicitation
- IRVINE, Calif.--(BUSINESS WIRE)--The New Home Company Inc. (the “Company”) announced its commencement of a private exchange offer to certain Eligible Holders (as defined herein) (the “Exchange Offer”) for any and all of the Company's outstanding 7.250% Senior Notes due 2025 (the “Existing Notes”) for new 8.250% Senior Notes due 2027 (the “Exchange Notes”). In connection with the Exchange Offer and Consent Solicitation (as defined herein), funds managed by affiliates of Apollo Global Management,.
- 05/31/2023
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Emmy® Award-Winning Journalists Taylor Dunn and Rebecca Jarvis and Girls Garage Founder/Executive Director Emily Pilloton-Lam to Serve as Keynote Speakers for BIA/OC's Women Leadership Conference, Presented by The New Home Company
- IRVINE, Calif.--(BUSINESS WIRE)--The Building Industry Association of Southern California, Orange County Chapter (BIA/OC) has announced its BIA/OC Women's Leadership Conference, “Building Your Own Journey,” presented by The New Home Company. The highly anticipated event – now in its eighth year – will take place on June 9, 2023 at City National Grove in Anaheim. Emmy® award-winning journalists Rebecca Jarvis and Taylor Dunn and Girls Garage Founder/Executive Director Emily Pilloton-Lam will ser.
- 05/18/2023
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The New Home Company Schedules Earnings Conference Call for the 2023 Second Quarter
- IRVINE, Calif.--(BUSINESS WIRE)--The New Home Company today announced that the Company will release its financial results for the 2023 second quarter on its confidential data site on Tuesday, May 9, 2023. The Company will also host a conference call beginning at 1:00 PM Pacific Time (4:00 PM Eastern Time) on Tuesday, May 9, 2023 to review the results, discuss recent events and conduct a question-and-answer period. The report of quarterly financial information, conference call and webcast will b.
- 05/02/2023
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Moore Kuehn Encourages BTNB, DGNS, NWHM, and ACBI Investors to Contact Law Firm
- NEW YORK, Aug. 10, 2021 /PRNewswire/ -- Moore Kuehn, PLLC, a law firm focusing in securities litigation located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders. Moore Kuehn may seek increased consideration, additional disclosures, or other relief on behalf of the shareholders of these companies: Bridgetown 2 Holdings Limited (NASDAQ: BTNB) Bridgetown 2 has agreed to merge with PropertyGuru.
- 08/10/2021
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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of The New Home Company, Inc. - NWHM
- NEW YORK, July 31, 2021 /PRNewswire/ -- Juan Monteverde , founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018-2020 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating The New Home Company, Inc. ("NWHM" or the "Company") (NWHM) relating to its proposed acquisition by affiliates of Apollo Global Management, Inc. Under the terms of the agreement, NWHM shareholders will receive $9.00 in cash per share they own. The investigation focuses on whether The New Home Company, Inc. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.
- 07/31/2021
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The New Home Company Inc. (NWHM) CEO Leonard Miller on Q2 2021 Results - Earnings Call Transcript
- The New Home Company Inc. (NWHM) CEO Leonard Miller on Q2 2021 Results - Earnings Call Transcript
- 07/30/2021
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The New Home Company Reports 2021 Second Quarter Results
- SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The New Home Company Inc. (NYSE: NWHM) today announced results for the 2021 second quarter. Second Quarter 2021 Financial Results Net income of $4.8 million, or $0.26 per diluted share Home sales revenue up 75% to $135.9 million as compared to $77.8 million for the 2020 second quarter Home sales gross margin of 17.3% as compared to (9.6%) for the 2020 second quarter Homebuilding gross margin before impairments was up 250 basis points to 17.3% as compared to 14.8%* in the 2020 second quarter; as further adjusted to exclude purchase accounting adjustments related to the Epic Homes acquisition, adjusted home sales gross margin was 17.8%* for the 2021 second quarter Homebuilding gross margin before impairments was up 250 basis points to 17.3% as compared to 14.8%* in the 2020 second quarter; as further adjusted to exclude purchase accounting adjustments related to the Epic Homes acquisition, adjusted home sales gross margin was 17.8%* for the 2021 second quarter Adjusted homebuilding gross margin (which excludes impairments and interest in cost of home sales) was 21.4%* as compared to 20.8%* in the 2020 second quarter Homes in backlog up 169% to 632 homes as compared to 235 homes at the end of the 2020 second quarter Backlog dollar value increased 160% to $439.4 million Monthly sales absorption increased 50% to 3.3 per community as compared to 2.2 in the 2020 second quarter Net new orders up 14% to 187 as compared to 164 in the 2020 second quarter Ending cash balance of $117.3 million as compared to $85.6 million at the end of the 2020 second quarter Debt-to-capital ratio of 58.1% and a net debt-to-capital ratio of 44.6%*, a 690-basis point improvement from the 2020 second quarter "The New Home Company continued to benefit from a strong housing market and its intent focus on improving gross margins by managing sales price and pace, which resulted in $4.8 million of net income for the 2021 second quarter,” stated Larry Webb, Executive Chairman of The New Home Company. “Our strategy over the past few years to diversify both our product offerings and geographic presence has been a success. Our recent acquisition of Epic Homes in Denver, Colorado made a positive contribution during the quarter, and we expect this to continue based on solid demand in this market and over $130 million in backlog as of the end of the quarter. We experienced strong demand across all of our markets and product offerings, and we intentionally limited our sales releases during the quarter to implement periodic price increases and manage our backlog and construction schedules. Despite this metering of sales, our absorption pace still increased by 50% as compared to the 2020 second quarter with both our Southern California and Northern California markets increasing their absorption pace by over 100% during the second quarter as compared to the prior year." Leonard Miller, President and Chief Executive Officer stated, "The momentum we’ve been building since the second half of 2020 continued into the 2021 second quarter from a net order, price appreciation and margin growth perspective. For the six months ended June 30, 2021, our adjusted homebuilding gross margin increased 220 basis points to 21.4%* as compared to the first half of 2020. We continue to experience challenges related to cost increases, particularly in our Arizona and Colorado markets, but successfully raised prices to cover the majority of these costs during the quarter. Our quarter end backlog of 632 homes with a value of $439.4 million positions us for a solid second half of 2021." Mr. Miller concluded, “Our balance sheet remains in good shape with a net debt-to-capital ratio of 44.6%*, $117 million of cash and nothing drawn on our unsecured revolver at quarter end. We continue to focus on our land pipeline to drive future top line growth while monitoring our existing communities to find the right balance of pace versus price in the current environment. The New Home team has worked very hard to get the Company where it is today, and we appreciate their continued efforts as we look forward to the future." Second Quarter 2021 Operating Results For the 2021 second quarter, the Company generated pretax income of $6.1 million compared to a $41.2 million pretax loss in the prior year period, which included $19.0 million in inventory impairment charges, a $20.0 million joint venture impairment charge and $1.1 million in severance charges. Net income for the 2021 second quarter was $4.8 million, or $0.26 per diluted share, compared to a net loss of $24.3 million, or ($1.32) per diluted share, in the prior year period. Adjusted net loss for the 2020 second quarter (which excludes impairments, severance charges and a net deferred tax asset remeasurement benefit), was $0.7 million*, or ($0.04) adjusted net loss per diluted share*. Total revenues for the 2021 second quarter were $140.5 million compared to $99.0 million in the prior year period, including $4.6 million and $21.2 million of fee building revenue, for the second quarters of 2021 and 2020, respectively. Wholly Owned Projects Net new home orders were 187 for the 2021 second quarter as compared to 164 in the prior year. Monthly absorption pace for the quarter increased 50% to 3.3 per community from 2.2 per community in the prior year. The increase in monthly sales absorption pace was partially offset by a decrease in our average selling communities to 19 compared to 25 in the prior year. The 2020 second quarter absorption rates and demand were negatively impacted by slower sales activity and higher cancellations due to stay-at-home orders implemented related to COVID-19 during the latter part of the 2020 first quarter. The Company's cancellation rate for the 2021 second quarter was 7% as compared to 11% in the prior year period. Homes in backlog increased 169% to 632, and the dollar value of homes in backlog increased 160% to $439.4 million. The year-over-year increase was driven primarily by stronger order activity over the last twelve months, coupled with the acquisition of our Colorado operation during the 2021 first quarter and a higher average community count in Arizona. The average selling price of homes in backlog at the end of the 2021 second quarter decreased to $695,000 as compared to $718,000 a year ago primarily due to a mix shift to more affordable priced communities, particularly in Arizona, which was partially offset by the average selling price of homes in backlog from Colorado, which was $1.1 million as of the end of the quarter. Home sales revenue increased 75% for the 2021 second quarter to $135.9 million compared to $77.8 million for the 2020 second quarter. This increase was largely the result of a 98% increase in new home deliveries, which was partially offset by a 12% decrease in average selling price to $666,000 and is consistent with our strategy to offer homes at more affordable price points. The decrease in average selling price was primarily driven by a significant increase in deliveries from Arizona where the average home price decreased from $1.2 million in the 2020 second quarter to $399,000 in the 2021 second quarter due to a shift to more affordable product. Gross margin from home sales for the 2021 second quarter was 17.3% compared to (9.6%) for the prior year period, which included $19.0 million in inventory impairment charges. Excluding the 2020 inventory impairment charges, gross margin from home sales was 14.8%* for the 2020 second quarter. The 250-basis point improvement before impairments was primarily due to a 190-basis point reduction in interest in cost of sales as a percentage of home sales revenue and price increases. The 2021 second quarter cost of home sales included $730,000 of purchase accounting adjustments related to the acquisition of Epic Homes. Homebuilding gross margin before purchase accounting adjustments for the 2021 second quarter was 17.8%*. Adjusted homebuilding gross margin, excluding inventory impairments and interest in cost of home sales was 21.4%* for the 2021 second quarter as compared to 20.8%* in the prior year period. The Company's SG&A expense rate as a percentage of home sales revenue for the 2021 second quarter was 12.7% compared to 17.1% in the prior year period. The 440-basis point improvement in the SG&A rate was primarily attributable to a 75% increase in home sales revenue during the 2021 second quarter and to a lesser extent, lower amortization of capitalized model costs in the 2021 second quarter and $0.9 million in pretax severance charges in the 2020 second quarter. These items were partially offset by a $0.7 million decrease in G&A expenses that were allocated to the fee building segment as compared to the 2020 second quarter and higher personnel costs. Fee Building Projects Fee building revenue for the 2021 second quarter was $4.6 million compared to $21.2 million in the prior year period. The reduction in fee building revenue was primarily due to the wind down of our fee building arrangement with Irvine Pacific. Unconsolidated Joint Ventures (JVs) The company had no income or loss from unconsolidated joint ventures during the 2021 second quarter as compared to a $20.0 million loss in the 2020 second quarter related to an impairment recorded at a land development joint venture in Northern California. During the 2021 first quarter, the Company's last active joint venture delivered its final homes and completed its principal operating activities, and as of such date all of the Company's joint ventures were effectively considered inactive. Interest Expense The Company expensed approximately $91,000 of interest costs directly to interest expense during the 2021 second quarter compared to $1.3 million in interest expense in the prior year second quarter. The year-over-year decrease in interest expense was the result of higher qualified inventory and lower debt. Balance Sheet and Liquidity The Company ended the quarter with $117.3 million in cash and cash equivalents, $280.6 million in debt related to its senior notes due in 2025 and no borrowings outstanding under its revolving credit facility. During the 2021 second quarter, the Company generated $2.5 million in operating cash flows. The Company had a debt-to-capital ratio of 58.1% and a net debt-to-capital ratio of 44.6%*, which represented a 690 basis point year-over-year improvement. The Company owned or controlled 2,298 lots through its wholly owned operations, of which 911 lots, or 40%, were controlled through option contracts. Agreement and Plan of Merger On July 23, 2021, the Company entered into a definitive agreement and plan of merger (the "Merger Agreement") with certain funds ("Apollo Funds") managed by affiliates of Apollo Global Management, Inc. pursuant to which the Apollo Funds have agreed to acquire the Company in an all-cash transaction for $9.00 per share, subject to the terms and conditions of the Merger Agreement. Conference Call Details The Company will host a conference call and webcast for investors and other interested parties beginning at 11:00 a.m. Eastern Time on Thursday, July 29, 2021 to review second quarter results and discuss recent events, forward-looking statements, and factors that may affect the Company's future results. The conference call will be available in the Investors section of the Company’s website at www.NWHM.com. To listen to the broadcast live, go to the site approximately 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. To participate in the telephone conference call, dial 1-877-407-0789 (domestic) or 1-201-689-8562 (international) at least five minutes prior to the start time. Replays of the conference call will be available through August 28, 2021 and can be accessed by dialing 1-844-512-2921 (domestic) or 1-412-317-6671 (international) and entering the pass code 13721049. The Company will not hold a question and answer session during this conference call. * Adjusted net income (loss), adjusted net income (loss) per diluted share, homebuilding gross margin before impairments and adjusted homebuilding gross margin (or homebuilding gross margin excluding impairments and interest in cost of home sales), homebuilding gross margin before purchase accounting adjustments, net debt-to-capital ratio, and selling, general and administrative costs excluding acquisition transaction costs and severance charges as a percentage of home sales revenue are non-GAAP measures. A reconciliation of the appropriate GAAP measure to each of these measures is included in the accompanying financial data. See “Reconciliation of Non-GAAP Financial Measures.” About The New Home Company NEW HOME is a publicly traded company listed on the New York Stock Exchange under the symbol “NWHM.” It is a new generation homebuilder focused on the design, construction and sale of innovative and consumer-driven homes in major metropolitan areas within select growth markets in California, Arizona and Colorado. For more information about the Company and its new home developments, please visit the Company's website at www.NWHM.com. Forward-Looking Statements Various statements contained in this press release, including those that express a belief, anticipation, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. Such statements include the statements regarding current business conditions. These forward-looking statements may include projections and estimates concerning our revenues, community counts and openings, the timing and success of specific projects, our ability to execute our strategic growth objectives, gross margins, other projected results, income, earnings per share, joint ventures and capital spending. Our forward-looking statements are generally accompanied by words such as “estimate,” “should,” “project,” “predict,” “believe,” “expect,” “intend,” “anticipate,” “potential,” “plan,” “goal,” “will,” “guidance,” “target,” “forecast,” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this press release speak only as of the date of this release, and we disclaim any obligation to update these statements unless required by law, and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. The following factors, among others, may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements: the successful completion of the proposed acquisition of us (the “Transaction”) by certain funds managed by affiliates of Apollo Global Management, Inc., or the failure to complete the Transaction; the impact of the pendency of the Transaction on our business and operations; the timing and expected financing of the Transaction; the possibility that any or all of the various conditions to the consummation of the Transaction may not be satisfied or waived in a timely manner, if at all; the possibility of business disruptions due to the Transaction-related uncertainty; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement related the Transaction; a pandemic, epidemic, or outbreak of infectious disease or similar threat, and the response to such event by government agencies and authorities, adverse impacts due to the COVID-19 pandemic, including a recession in the U.S., which could include, among other things, a significant decrease in demand for our homes or consumer confidence generally with respect to purchasing a home, the impact of legislation designed to provide economic relief from a recession, the inability of employees to work and of customers to visit our communities due to government movement restrictions or illness, disruptions in our supply chain, our inability to access capital markets due to lack of liquidity in the economy resulting from the responses to the COVID-19 pandemic, inconsistencies in the classification of homebuilding as an essential business, recognition of charges which may be material for inventory impairments or land option contract abandonments; economic changes either nationally or in the markets in which we operate, including declines in employment, volatility of mortgage interest rates and inflation; a downturn in the homebuilding industry; changes in sales conditions, including home prices, in the markets where we build homes; our significant amount of debt and the impact of restrictive covenants in our debt agreements; our ability to repay our debt as it comes due; changes in our credit rating or outlook; volatility and uncertainty in the credit markets and broader financial markets; our business and investment strategy including our plans to sell more affordably priced homes; availability of land to acquire and our ability to acquire such land on favorable terms or at all; our liquidity and availability, terms and deployment of capital; changes in margin; write-downs; shortages of or increased prices for labor, land or raw materials used in housing construction; adverse weather conditions and natural disasters (including wild fires and mudslides); our concentration in California; issues concerning our joint venture partnerships; the cost and availability of insurance and surety bonds; governmental regulation, including the impact of "slow growth" or similar initiatives; changes in, or the failure or inability to comply with, governmental laws and regulations; the timing of receipt of regulatory approvals and the opening of projects; delays in the land entitlement process, development, construction, or the opening of new home communities; litigation and warranty claims; the degree and nature of competition; the impact of recent accounting standards; availability of qualified personnel and our ability to retain our key personnel; and information technology failures and data security breaches, including issues involving increased reliance on technology due to critical business functions being done remotely because of COVID-19; and additional factors discussed under the sections captioned “Risk Factors” included in our annual report and other reports filed with the Securities and Exchange Commission. The Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this press release. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (Dollars in thousands, except per share amounts) Revenues: Home sales $ 135,940 $ 77,757 $ 229,795 $ 173,416 Land sales — 10 — 157 Fee building, including management fees 4,586 21,193 9,887 57,420 140,526 98,960 239,682 230,993 Cost of Sales: Home sales 112,453 66,216 190,301 150,938 Home sales impairments — 19,000 — 19,000 Land sales — 10 — 157 Fee building 4,494 20,985 9,691 56,482 116,947 106,211 199,992 226,577 Gross Margin: Home sales 23,487 (7,459 ) 39,494 3,478 Land sales — — — — Fee building 92 208 196 938 23,579 (7,251 ) 39,690 4,416 Selling and marketing expenses (7,778 ) (6,386 ) (14,432 ) (13,852 ) General and administrative expenses (9,453 ) (6,892 ) (17,724 ) (12,915 ) Equity in net income (loss) of unconsolidated joint ventures — (19,962 ) 174 (21,899 ) Interest expense (91 ) (1,271 ) (445 ) (1,989 ) Project abandonment costs (21 ) (94 ) (89 ) (14,130 ) Gain on early extinguishment of debt — 702 — 579 Other income (expense), net (116 ) (68 ) (50 ) 155 Pretax income (loss) 6,120 (41,222 ) 7,124 (59,635 ) (Provision) benefit for income taxes (1,346 ) 16,929 (1,797 ) 26,866 Net income (loss) $ 4,774 $ (24,293 ) $ 5,327 $ (32,769 ) Earnings (loss) per share: Basic $ 0.26 $ (1.32 ) $ 0.29 $ (1.71 ) Diluted $ 0.26 $ (1.32 ) $ 0.29 $ (1.71 ) Weighted average shares outstanding: Basic 18,075,687 18,341,549 18,092,259 19,146,687 Diluted 18,446,015 18,341,549 18,431,276 19,146,687 CONSOLIDATED BALANCE SHEETS June 30, December 31, 2021 2020 (Dollars in thousands, except per share amounts) (Unaudited) Assets Cash and cash equivalents $ 117,329 $ 107,279 Restricted cash 22 180 Contracts and accounts receivable 4,501 4,924 Due from affiliates 61 102 Real estate inventories 358,273 314,957 Investment in unconsolidated joint ventures 769 2,107 Deferred tax asset, net 14,268 15,447 Other assets 50,263 50,703 Total assets $ 545,486 $ 495,699 Liabilities and equity Accounts payable $ 16,084 $ 17,182 Accrued expenses and other liabilities 46,092 36,210 Senior notes, net 280,579 244,865 Total liabilities 342,755 298,257 Equity: Stockholders' equity: Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares outstanding — — Common stock, $0.01 par value, 500,000,000 shares authorized, 18,160,613 and 18,122,345, shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively 182 181 Additional paid-in capital 191,457 191,496 Retained earnings 11,092 5,765 Total stockholders' equity 202,731 197,442 Total liabilities and equity $ 545,486 $ 495,699 CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended June 30, 2021 2020 (Dollars in thousands) Operating activities: Net income (loss) $ 5,327 $ (32,769 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Deferred taxes 1,179 1,637 Amortization of stock-based compensation 1,258 1,110 Inventory impairments — 19,000 Project abandonment costs 89 14,130 Equity in net (income) loss of unconsolidated joint ventures (174 ) 21,899 Depreciation and amortization 2,727 3,623 Gain on early extinguishment of debt — (579 ) Net changes in operating assets and liabilities: Contracts and accounts receivable 527 8,870 Due from affiliates 41 98 Real estate inventories (5,185 ) 30,579 Other assets 840 (31,133 ) Accounts payable (3,762 ) (8,932 ) Accrued expenses and other liabilities 2,122 (5,510 ) Net cash provided by operating activities 4,989 22,023 Investing activities: Purchases of property and equipment (130 ) (143 ) Contributions to unconsolidated joint ventures — (3,847 ) Distributions of capital and repayment of advances from unconsolidated joint ventures 1,512 2,370 Cash paid for acquisition, net of cash acquired (6,477 ) — Net cash provided by investing activities (5,095 ) (1,620 ) Financing activities: Proceeds from senior notes 36,138 — Repurchases of senior notes — (9,825 ) Proceeds from notes payable — 7,036 Repayment of notes payable (23,848 ) (7,036 ) Payment of debt issuance costs (996 ) (255 ) Repurchases of common stock (976 ) (3,718 ) Tax withholding paid on behalf of employees for stock awards (320 ) (304 ) Net cash used in financing activities 9,998 (14,102 ) Net increase (decrease) in cash, cash equivalents and restricted cash 9,892 6,301 Cash, cash equivalents and restricted cash – beginning of period 107,459 79,431 Cash, cash equivalents and restricted cash – end of period $ 117,351 $ 85,732 KEY FINANCIAL AND OPERATING DATA (Dollars in thousands) (Unaudited) New Home Deliveries: Three Months Ended June 30, 2021 2020 % Change Homes Dollar Value Average Price Homes Dollar Value Average Price Homes Dollar Value Average Price Southern California 62 $ 49,399 $ 797 50 $ 41,440 $ 829 24 % 19 % (4 )% Northern California 79 52,518 665 48 30,156 628 65 % 74 % 6 % Arizona 46 18,366 399 5 6,161 1,232 820 % 198 % (68 )% Colorado 17 15,657 921 — — N/A N/A N/A N/A Total 204 $ 135,940 $ 666 103 $ 77,757 $ 755 98 % 75 % (12 )% Six Months Ended June 30, 2021 2020 % Change Homes Dollar Value Average Price Homes Dollar Value Average Price Homes Dollar Value Average Price Southern California 114 $ 86,940 $ 763 118 $ 104,457 $ 885 (3 )% (17 )% (14 )% Northern California 149 98,191 659 77 50,420 655 94 % 95 % 1 % Arizona 66 26,064 395 15 18,539 1,236 340 % 41 % (68 )% Colorado 21 18,600 886 — — N/A N/A N/A N/A Total 350 $ 229,795 $ 657 210 $ 173,416 $ 826 67 % 33 % (20 )% Three Months Ended June 30, Six Months Ended June 30, 2021 2020 % Change 2021 2020 % Change Net New Home Orders: Southern California 40 75 (47 )% 97 137 (29 )% Northern California 75 60 25 % 204 128 59 % Arizona 51 29 76 % 133 31 329 % Colorado 21 — N/A 36 — N/A Total 187 164 14 % 470 296 59 % Selling Communities at End of Period: Southern California 2 11 (82 )% Northern California 6 10 (40 )% Arizona 7 4 75 % Colorado 4 — N/A Total 19 25 (24 )% Average Selling Communities: Southern California 2 11 (82 )% 4 11 (64 )% Northern California 6 11 (45 )% 7 10 (30 )% Arizona 7 3 133 % 7 2 250 % Colorado 4 — N/A 2 — N/A Total 19 25 (24 )% 20 23 (13 )% Monthly Sales Absorption Rate per Community (1): Southern California 5.7 2.3 148 % 4.4 2.1 110 % Northern California 4.2 1.9 121 % 4.7 2.1 124 % Arizona 2.6 3.2 (19 )% 3.2 2.2 45 % Colorado 1.9 — N/A 2.6 — N/A Total 3.3 2.2 50 % 3.9 2.1 86 % (1) Monthly sales absorption represents the number of net new home orders divided by the number of average selling communities for the period. As of June 30, 2021 2020 % Change Homes Dollar Value Average Price Homes Dollar Value Average Price Homes Dollar Value Average Price Southern California 59 $ 45,601 $ 773 91 $ 74,547 $ 819 (35 )% (39 )% (6 )% Northern California 227 166,041 731 117 81,909 700 94 % 103 % 4 % Arizona 229 97,684 427 27 12,337 457 748 % 692 % (7 )% Colorado 117 130,110 1,112 — — N/A N/A N/A N/A Total 632 $ 439,436 $ 695 235 $ 168,793 $ 718 169 % 160 % (3 )% Lots Owned and Controlled: As of June 30, 2021 2020 % Change Lots Owned: Southern California 186 397 (53 )% Northern California 511 558 (8 )% Arizona 499 397 26 % Colorado 191 — N/A Total 1,387 1,352 3 % Lots Controlled: (1) Southern California 589 415 42 % Northern California 175 210 (17 )% Arizona 63 262 (76 )% Colorado 84 — N/A Total 911 887 3 % Lots Owned and Controlled - Wholly Owned 2,298 2,239 3 % Fee Building Lots (2) 38 892 (96 )% (1) Includes lots that we control under purchase and sale agreements or option agreements with nonrefundable deposits and certain agreements with refundable deposits that we have a high degree of confidence that we will pursue, all of which are subject to customary conditions and have not yet closed. This table excludes 2,511 lots controlled through purchase and sale agreements or option agreements with refundable deposits totaling $0.4 million that are still undergoing due diligence. There can be no assurance that any of the foregoing acquisitions will occur. (2) Lots owned by third party property owners for which we perform general contracting or construction management services. Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Interest incurred $ 5,751 $ 6,150 $ 11,082 $ 12,530 Adjusted EBITDA(1) $ 13,932 $ 6,394 $ 22,095 $ 13,375 Adjusted EBITDA margin percentage (1) 9.9 % 6.5 % 9.2 % 5.8 % LTM(2) Ended June 30, 2021 2020 Interest incurred $ 22,488 $ 25,982 Adjusted EBITDA(1) $ 46,045 $ 36,859 Adjusted EBITDA margin percentage (1) 8.9 % 6.0 % Ratio of Adjusted EBITDA to total interest incurred(1) 2.0x 1.4x June 30, December 31, 2021 2020 Ratio of debt-to-capital 58.1 % 55.4 % Ratio of net debt-to-capital(1) 44.6 % 41.0 % Ratio of debt to LTM(2) Adjusted EBITDA(1) 6.1x 6.6x Ratio of net debt to LTM(2) Adjusted EBITDA(1) 3.5x 3.7x Ratio of cash and inventory to debt 1.7x 1.7x (1) Adjusted EBITDA, Adjusted EBITDA margin percentage, ratio of Adjusted EBITDA to total interest incurred, ratio of net debt-to-capital, ratio of debt to LTM Adjusted EBITDA and ratio of net debt to LTM Adjusted EBITDA are non-GAAP measures. Please see "Reconciliation of Non-GAAP Financial Measures" for a reconciliation of each of these measures to the appropriate GAAP measure. (2) "LTM" indicates amounts for the trailing 12 months. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) In this earnings release, we utilize certain non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they, and similar measures, are useful to management and investors in evaluating the Company’s operating performance and financing structure. We also believe these measures facilitate the comparison of our operating performance and financing structure with other companies in our industry. Because these measures are not calculated in accordance with Generally Accepted Accounting Principles (“GAAP”), they may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. The following table reconciles net income (loss) to the non-GAAP measure of adjusted net income (loss) (net income (loss) before acquisition transaction costs, inventory impairments, abandoned project costs, joint venture impairments, severance charges and noncash deferred tax asset adjustments) and earnings (loss) per share and earnings (loss) per diluted share to the non-GAAP measures of adjusted earnings (loss) per share and adjusted diluted earnings (loss) per share (earnings (loss) per share before acquisition transaction costs, inventory impairments, abandoned project costs, joint venture impairments, severance charges and noncash deferred tax asset adjustments). We believe removing the impact of these items is relevant to provide investors with an understanding of the impact these items had on earnings. Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (Dollars in thousands, except per share amounts) Net income (loss) $ 4,774 $ (24,293 ) $ 5,327 $ (32,769 ) Acquisition transaction costs, net of tax — — 765 — Inventory impairments, abandoned project costs, joint venture impairments and severance charges, net of tax — 25,414 — 34,847 Noncash deferred tax asset remeasurement — (1,827 ) 175 (3,941 ) Adjusted net income (loss) $ 4,774 $ (706 ) $ 6,267 $ (1,863 ) Earnings (loss) per share: Basic $ 0.26 $ (1.32 ) $ 0.29 $ (1.71 ) Diluted $ 0.26 $ (1.32 ) $ 0.29 $ (1.71 ) Adjusted earnings (loss) per share: Basic $ 0.26 $ (0.04 ) $ 0.35 $ (0.10 ) Diluted $ 0.26 $ (0.04 ) $ 0.34 $ (0.10 ) Weighted average shares outstanding for adjusted earnings (loss) per share: Basic 18,075,687 18,341,549 18,092,259 19,146,687 Diluted 18,446,015 18,341,549 18,431,276 19,146,687 Inventory impairments $ — $ 19,000 $ — $ 19,000 Abandoned project costs related to Arizona luxury condominium community — — — 14,000 Joint venture impairments related to joint venture exits — 20,038 — 22,325 Severance charges — 1,091 — 1,091 Acquisition transaction costs — — 983 — Less: Related tax benefit — (14,715 ) (218 ) (21,569 ) Acquisition transaction costs, inventory impairments, abandoned project costs, joint venture impairments and severance charges, net of tax $ — $ 25,414 $ 765 $ 34,847 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (Unaudited) The following table reconciles the Company’s SG&A rate as a percentage of home sales revenue calculated in accordance with GAAP to the non-GAAP measure, SG&A rate excluding acquisition transaction costs and severance charges. During the 2021 first quarter, the Company incurred $983,000 in transaction related costs associated with the acquisition of Epic Homes. During the 2020 second quarter, the Company incurred severance charges related to right-sizing its operations by reducing headcount. We believe removing the impact of these charges from our SG&A rate is relevant to provide investors with a better comparison to rates that do not include these charges. Three Months Ended As a Percentage of Six Months Ended As a Percentage of June 30, Home Sales Revenue June 30, Home Sales Revenue 2021 2020 2021 2020 2021 2020 2021 2020 (Dollars in thousands) Selling and marketing expenses $ 7,778 $ 6,386 5.7 % 8.2 % $ 14,432 $ 13,852 6.3 % 8.0 % General and administrative expenses ("G&A") 9,453 6,892 7.0 % 8.9 % 17,724 12,915 7.7 % 7.4 % Total selling, marketing and G&A ("SG&A") $ 17,231 $ 13,278 12.7 % 17.1 % $ 32,156 $ 26,767 14.0 % 15.4 % G&A $ 9,453 $ 6,892 7.0 % 8.9 % $ 17,724 $ 12,915 7.7 % 7.4 % Less: Acquisition transaction costs and severance charges — (873 ) — (1.2 )% (983 ) (873 ) (0.4 )% (0.5 )% G&A, excluding acquisition transaction costs and severance charges $ 9,453 $ 6,019 7.0 % 7.7 % $ 16,741 $ 12,042 7.3 % 6.9 % Selling and marketing expenses $ 7,778 $ 6,386 5.7 % 8.2 % $ 14,432 $ 13,852 6.3 % 8.0 % G&A, excluding acquisition transaction costs and severance charges 9,453 6,019 7.0 % 7.7 % 16,741 12,042 7.3 % 6.9 % SG&A, excluding acquisition transaction costs and severance charges $ 17,231 $ 12,405 12.7 % 15.9 % $ 31,173 $ 25,894 13.6 % 14.9 % The following table reconciles homebuilding gross margin percentage as reported and prepared in accordance with GAAP to the non-GAAP measures, homebuilding gross margin before impairments, and adjusted homebuilding gross margin (or homebuilding gross margin excluding home sales impairment charges and interest in cost of home sales) and homebuilding gross margin before purchase accounting adjustments. We believe this information is meaningful, as it isolates the impact home sales impairments, leverage and purchase accounting adjustments have on homebuilding gross margin and provides investors better comparisons with our competitors, who adjust gross margins in a similar fashion. Three Months Ended June 30, Six Months Ended June 30, 2021 % 2020 % 2021 % 2020 % (Dollars in thousands) Home sales revenue $ 135,940 100.0 % $ 77,757 100.0 % $ 229,795 100.0 % $ 173,416 100.0 % Cost of home sales 112,453 82.7 % 85,216 109.6 % 190,301 82.8 % 169,938 98.0 % Homebuilding gross margin 23,487 17.3 % (7,459 ) (9.6 )% 39,494 17.2 % 3,478 2.0 % Add: Home sales impairment — — % 19,000 24.4 % — — % 19,000 11.0 % Homebuilding gross margin before impairments 23,487 17.3 % 11,541 14.8 % 39,494 17.2 % 22,478 13.0 % Add: Interest in cost of home sales 5,616 4.1 % 4,601 6.0 % 9,643 4.2 % 10,747 6.2 % Adjusted homebuilding gross margin $ 29,103 21.4 % $ 16,142 20.8 % $ 49,137 21.4 % $ 33,225 19.2 % Home sales revenue $ 135,940 100.0 % $ 77,757 100.0 % $ 229,795 100.0 % $ 173,416 100.0 % Cost of home sales 112,453 82.7 % 85,216 109.6 % 190,301 82.8 % 169,938 98.0 % Homebuilding gross margin 23,487 17.3 % (7,459 ) (9.6 )% 39,494 17.2 % 3,478 2.0 % Add: Purchase accounting adjustments 730 0.5 % — N/A 1,025 0.4 % — N/A Homebuilding gross margin before purchase accounting adjustments $ 24,217 17.8 % $ (7,459 ) (9.6 )% $ 40,519 17.6 % $ 3,478 2.0 % RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (Unaudited) The following table reconciles the Company’s ratio of debt-to-capital to the non-GAAP ratio of net debt-to-capital. We believe that the ratio of net debt-to-capital is a relevant financial measure for management and investors to understand the leverage employed in our operations and as an indicator of the Company’s ability to obtain financing. June 30, December 31, 2021 2020 (Dollars in thousands) Total debt, net of unamortized premium and debt issuance costs $ 280,579 $ 244,865 Equity 202,731 197,442 Total capital $ 483,310 $ 442,307 Ratio of debt-to-capital(1) 58.1 % 55.4 % Total debt, net of unamortized premium and debt issuance costs $ 280,579 $ 244,865 Less: Cash, cash equivalents and restricted cash 117,351 107,459 Net debt 163,228 137,406 Equity 202,731 197,442 Total capital $ 365,959 $ 334,848 Ratio of net debt-to-capital(2) 44.6 % 41.0 % (1) The ratio of debt-to-capital is computed as the quotient obtained by dividing total debt, net of unamortized premium and debt issuance costs by total capital (the sum of total debt, net of unamortized premium and debt issuance costs plus equity). (2) The ratio of net debt-to-capital is computed as the quotient obtained by dividing net debt (which is total debt, net of unamortized premium and debt issuance costs less cash, cash equivalents and restricted cash to the extent necessary to reduce the debt balance to zero) by total capital. The most directly comparable GAAP financial measure is the ratio of debt-to-capital. We believe the ratio of net debt-to-capital is a relevant financial measure for investors to understand the leverage employed in our operations and as an indicator of our ability to obtain financing. We believe that by deducting our cash from our debt, we provide a measure of our indebtedness that takes into account our cash liquidity. We believe this provides useful information as the ratio of debt-to-capital does not take into account our liquidity and we believe that the ratio net of cash provides supplemental information by which our financial position may be considered. Investors may also find this to be helpful when comparing our leverage to the leverage of our competitors that present similar information. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued) (Unaudited) Adjusted EBITDA, Adjusted EBITDA margin percentage, the ratio of Adjusted EBITDA to total interest incurred, the ratio of debt to Adjusted EBITDA, and the ratio of net debt to Adjusted EBITDA are non-GAAP measures. Adjusted EBITDA means net income (loss) (plus cash distributions of income from unconsolidated joint ventures) before (a) income taxes, (b) interest expense, (c) amortization of previously capitalized interest included in cost of sales (excluding amounts included in impairment charges), (d) severance charges (e) noncash inventory impairment charges and abandoned project costs, (f) gain (loss) on early extinguishment of debt (g) depreciation and amortization, (h) amortization of stock-based compensation, (i) income (loss) from unconsolidated joint ventures, and (j) acquisition transaction costs. Adjusted EBITDA margin percentage is calculated by dividing Adjusted EBITDA by total revenue for a given period. The ratio of Adjusted EBITDA to total interest incurred is calculated by dividing Adjusted EBITDA by total interest incurred for a given period. The ratio of debt to Adjusted EBITDA is calculated by dividing debt at the period end by Adjusted EBITDA for a given period. The ratio of net debt to Adjusted EBITDA is calculated by dividing debt at the period end less cash, cash equivalents and restricted cash by Adjusted EBITDA for a given period. Other companies may calculate Adjusted EBITDA differently. Management believes that Adjusted EBITDA assists investors in understanding and comparing the operating characteristics of homebuilding activities by eliminating many of the differences in companies' respective capitalization, interest costs, tax position, level of impairments and other non-recurring items. Due to the significance of the GAAP components excluded, Adjusted EBITDA should not be considered in isolation or as an alternative to net income (loss), cash flows from operations or any other performance measure prescribed by GAAP. A reconciliation of net income (loss) to Adjusted EBITDA, and the calculations of Adjusted EBITDA margin percentage, the ratio of Adjusted EBITDA to total interest incurred, the ratio of debt to Adjusted EBITDA, and the ratio of net debt to Adjusted EBITDA are provided in the following table. Three Months Ended Six Months Ended LTM(1) Ended June 30, June 30, June 30, December 31, 2021 2020 2021 2020 2021 2020 2020 (Dollars in thousands) Net income (loss) $ 4,774 $ (24,293 ) $ 5,327 $ (32,769 ) $ 5,227 $ (40,374 ) $ (32,869 ) Add: Interest amortized to cost of sales excluding impairment charges, and interest expensed 5,707 5,872 10,088 12,736 24,871 28,817 27,519 Provision (benefit) for income taxes 1,346 (16,929 ) 1,797 (26,866 ) 2,076 (30,991 ) (26,587 ) Depreciation and amortization 1,471 1,778 2,727 3,623 5,825 7,538 6,721 Amortization of stock-based compensation 613 521 1,258 1,110 2,345 2,281 2,197 Cash distributions of income from unconsolidated joint ventures — — — — 110 95 110 Severance charges — 1,091 — 1,091 — 1,091 1,091 Acquisition transaction costs — — 983 — 983 — — Noncash inventory impairments and abandonments 21 19,094 89 33,130 57 43,405 33,098 Less: (Gain) loss on early extinguishment of debt — (702 ) — (579 ) 7,833 (774 ) 7,254 Equity in net (income) loss of unconsolidated joint ventures — 19,962 (174 ) 21,899 (3,282 ) 25,771 18,791 Adjusted EBITDA $ 13,932 $ 6,394 $ 22,095 $ 13,375 $ 46,045 $ 36,859 $ 37,325 Total Revenue $ 140,526 $ 98,960 $ 239,682 $ 230,993 $ 516,100 $ 618,745 $ 507,411 Adjusted EBITDA margin percentage 9.9 % 6.5 % 9.2 % 5.8 % 8.9 % 6.0 % 7.4 % Interest incurred $ 5,751 $ 6,150 $ 11,082 $ 12,530 $ 22,488 $ 25,982 $ 23,936 Ratio of Adjusted EBITDA to total interest incurred 2.4x 1.0x 2.0x 1.1x 2.0x 1.4x 1.6x Total debt at period end $ 280,579 $ 295,124 $ 244,865 Ratio of debt to Adjusted EBITDA 6.1x 8.0x 6.6x Total net debt at period end $ 163,228 $ 209,392 $ 137,406 Ratio of net debt to Adjusted EBITDA 3.5x 5.7x 3.7x Total cash and inventory $ 475,602 $ 456,537 $ 422,236 Ratio of cash and inventory to debt 1.7x 1.5x 1.7x (1) "LTM" indicates amounts for the trailing 12 months.
- 07/29/2021
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The New Home Company Reports Selected Preliminary 2021 Second Quarter Results
- SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The New Home Company Inc. (NYSE: NWHM) today announced selected preliminary results for the 2021 second quarter in connection with meetings with investors. These estimated results are preliminary and unaudited. Preliminary 2021 Second Quarter Financial Highlights (Estimated Results) Net new orders of 187 as compared to 164 in the 2020 second quarter, a 14% increase Monthly sales absorption of 3.3 per community as compared to 2.2 per community in the 2020 seco
- 07/26/2021
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SHAREHOLDER ALERT: Halper Sadeh LLP Investigates NWHM, VNE, ACBI, QTS, STL, GRA; Shareholders are Encouraged to Contact the Firm
- NEW YORK, July 24, 2021 /PRNewswire/ -- Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies: The New Home Company Inc. (NYSE: NWHM) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to funds managed by affiliates of Apollo Global Management, Inc. for $9.00 per share in cash. If you are a New Home shareholder, click here to learn more about your rights and options.
- 07/24/2021
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NEW HOME COMPANY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of The New Home Company - NWHM
- NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of The New Home Company (NYSE: NWHM) to funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO). Under the terms of the proposed transaction, shareholders of New Home will receive only $9.00 in cash for each share of New Home that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-nwhm/ to learn more. Please note that the merger is structured as a tender offer, such that time may be of the essence. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
- 07/23/2021
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SHAREHOLDER ALERT: WeissLaw LLP Investigates The New Home Company Inc.
- NEW YORK, July 23, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of The New Home Company Inc. ("New Home" or the "Company") (NYSE: NWHM) in connection with the Company's proposed merger with funds managed by affiliates of Apollo Global Management, Inc. The transaction is structured as an all-cash tender offer in which the Company's shareholders will receive $9.00 per share in cash for each share of New Home common stock that they hold. The transaction is valued at approximately $338 million.
- 07/23/2021
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Housing Prices Are Absurd. Don't Get Mad — Get Even.
- The current situation around housing prices is not ideal. But if you play your cards right, you can profit from real estate moonshots.
- 07/23/2021
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NWHM Stock Increases Over 80% Pre-Market: Why It Happened
- The stock price of New Home Company Inc (NYSE: NWHM) increased by over 80% pre-market. This is why it happened.
- 07/23/2021
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The New Home Company Schedules Second Quarter 2021 Earnings Release and Conference Call
- SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The New Home Company (NYSE: NWHM) today announced that the Company will release its financial results for the 2021 second quarter before the market opens on Thursday, July 29, 2021. The Company will also host a conference call for investors and other interested parties beginning at 8:00 AM Pacific Time (11:00 AM Eastern Time) on that same day to review the results, discuss recent events and conduct a question-and-answer period. Webcast: The conference call wi
- 06/29/2021
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The New Home Company to Webcast Its Presentation at the UBS Global Industrials & Transportation Virtual Conference
- SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The New Home Company Inc. (NYSE: NWHM) will webcast its presentation at the UBS Global Industrials & Transportation Virtual Conference on Wednesday, June 9 at 3:00 PM ET. A link to the presentation will be available under the Webcast banner in the Investor Relations section of the company's website at NWHM.com. An archive of the presentation will be available for a 30-day period following the event. About The New Home Company NEW HOME is a publicly traded
- 06/03/2021
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The New Home Company, Inc. (NWHM) CEO Leonard Miller on Q1 2021 Results - Earnings Call Transcript
- The New Home Company, Inc. (NWHM) CEO Leonard Miller on Q1 2021 Results - Earnings Call Transcript
- 04/30/2021
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The New Home Company Reports 2021 first Quarter Results
- SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The New Home Company Inc. (NYSE: NWHM) today announced results for the 2021 first quarter. First Quarter 2021 Financial Results Net income of $0.6 million, or $0.03 per diluted share, compared to a net loss of $8.5 million, or $(0.42) per diluted share, for the 2020 first quarter, which included $16.3 million of pretax charges Adjusted net income for the 2021 first quarter of $1.5 million*, or $0.08 per diluted share*, after excluding transaction costs and th
- 04/30/2021
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The New Home Company Schedules First Quarter 2021 Earnings Release and Conference Call
- SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The New Home Company (NYSE: NWHM) today announced that the Company will release its financial results for the 2021 first quarter before the market opens on Friday, April 30, 2021. The Company will also host a conference call for investors and other interested parties beginning at 8:00 AM Pacific Time (11:00 AM Eastern Time) on that same day to review the results, discuss recent events and conduct a question-and-answer period. Webcast: The conference call will
- 04/01/2021
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New Home Company, Inc. (NWHM) CEO Leonard Miller on Q4 2020 Results - Earnings Call Transcript
- New Home Company, Inc. (NWHM) CEO Leonard Miller on Q4 2020 Results - Earnings Call Transcript
- 02/11/2021
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The New Home Company Reports 2020 Fourth Quarter and Full Year Results
- IRVINE, Calif.--(BUSINESS WIRE)--The New Home Company Inc. (NYSE: NWHM) today announced results for the 2020 fourth quarter and full year. Fourth Quarter 2020 Financial Results Net orders up 89%, monthly sales absorption rate increased 68% to 3.7 compared to 2.2 in the prior year Unit backlog up 175%, dollar value of homes in backlog increased 88% compared to last year to $236.0 million Total revenues of $145.6 million and home sales revenue of $135.4 million Homebuilding gross margin of 14.8%
- 02/11/2021
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The New Home Company Schedules Fourth Quarter and Full Year 2020 Earnings Release and Conference Call
- ALISO VIEJO, Calif.--(BUSINESS WIRE)--The New Home Company (NYSE: NWHM) today announced that the Company will release its financial results for the fourth quarter and full year 2020 before the market opens on Thursday, February 11, 2021. The Company will also host a conference call for investors and other interested parties beginning at 8:00 AM Pacific Time (11:00 AM Eastern Time) on that same day to review the results, discuss recent events and conduct a question-and-answer period. Webcast: Th
- 01/20/2021
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The New Home Company Inc. (NWHM) CEO Leonard Miller on Q3 2020 Results - Earnings Call Transcript
- The New Home Company Inc. (NWHM) CEO Leonard Miller on Q3 2020 Results - Earnings Call Transcript
- 11/02/2020
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The New Home Company Reports 2020 Third Quarter Results
- ALISO VIEJO, Calif.--(BUSINESS WIRE)--The New Home Company Inc. (NYSE: NWHM) today announced results for the 2020 third quarter. Third Quarter 2020 Financial Results Net income of $1.2 million, or $0.06 per diluted share, compared to a net loss of $4.6 million, or $(0.23) per diluted share, for the 2019 third quarter Homes sales revenue of $117.4 million as compared to $118.8 million for the 2019 third quarter New home deliveries of 157 as compared to 124 in the 2019 third quarter, a 27% increa
- 11/02/2020
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Deep Value Index Outperforms Nasdaq 14.6% Year-To-Date - Model Portfolio Update
- Net-Nets continue their ride higher. Although Nasdaq gained 10.7% during 21 July - 27 August and Net-Nets only gained 8%, Net-Nets are still up 44.1% YTD compared to Nasdaq's return of 29.6%.
- 09/04/2020
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New video shows deputy was aggressor in confrontation with Raptors' Ujiri
- Masai Ujiri has filed a countersuit against a California sheriff’s deputy who contends the Raptors president of basketball operations shoved and injured him
- 08/19/2020
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The New Home Company Enjoys Early Sales Success at Mosaic at Layton Lakes in Gilbert as Company’s Arizona Expansion Continues
- The New Home Company (NEW HOME, NYSE: NWHM) today announced that sales are off to a quick start at Mosaic in the master-planned community of Layton Lakes in Gilbert. Since its initial debut of model homes in late May, the homebuilder has sold 47 townhomes and flats across three residential collections.
- 08/18/2020
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The New Home Company Partners with Zillow Offers to Simplify Process for Buyers with Homes to Sell
- The New Home Company (NEW HOME) (NYSE: NWHM) today announced a partnership with Zillow Offers to simplify the process for buyers with homes to sell at its communities throughout California and Arizona. The program is geared to NEW HOME buyers that are simultaneously selling their existing home and can receive a cash offer directly from Zillow, if their home meets certain criteria, allowing them to safely move when they’re ready with no showings or repairs to manage.
- 08/14/2020
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The New Home Company Celebrates Grand Debut of Russell Ranch as Community Rises in Hills Above Folsom
- The New Home Company (NEW HOME, NYSE: NWHM) announced today that it recently celebrated the Grand Debut of Russell Ranch, the thoughtfully designed master-planned community set in the rolling hills of Folsom, California.
- 08/11/2020
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The New Home Company Celebrates Grand Debut of Russell Ranch as Community Rises in Hills Above Folsom
- The New Home Company (NEW HOME, NYSE: NWHM) announced today that it recently celebrated the Grand Debut of Russell Ranch, the thoughtfully designed ma
- 08/11/2020
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NFL: Dozens of players positive for COVID-19 since training camps open, opt-out deadline looms
- NFL: Dozens of players positive for COVID-19 since training camps open, opt-out deadline looms
- 08/06/2020
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The New Home Company Inc. (NWHM) CEO Leonard Miller on Q2 2020 Results - Earnings Call Transcript
- The New Home Company Inc. (NYSE:NWHM) Q2 2020 Earnings Conference Call July 30, 2020 10:00 AM ET Company Participants Drew Mackintosh - IR Larry Webb - Executive Chairman Leonard Miller - CEO John Stephens - CFO Conference Call Participants Thomas Maguire - Zelman & Associates LLC Alex Barron - Housing Research Presentation Operator Greetings, and welcome to The New Home Company Second Quarter 2020 Results Conference Call.
- 08/01/2020
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The New Home Company Reports 2020 Second Quarter Results
- The New Home Company Inc. (NYSE: NWHM) today announced results for the 2020 second quarter.
- 07/30/2020
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Deep Value Index Posts Strong Outperformance Vs. Nasdaq During COVID-19 Pandemic
- Value has lagged Growth during the last ten years. Even during the Covid-19 pandemic, Growth continues to outperform value by a wide margin.
- 07/27/2020
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Riassunto: XSignals di XCHG, che offre indici di mercato e insight fruibili in materia di ambiente, società e governance (ESG), acquisisce i suoi primi utenti
- XCHG, the global marketplace for Intelligent Commodities™ (il mercato globale per beni intelligenti), ha annunciato oggi il lancio di XSignals, una co
- 07/27/2020
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The New Home Company Returns to Irvine with Spacious Residences at Great Park’s Rise Neighborhood
- The city of Irvine is a special place for The New Home Company (NEW HOME, NYSE: NWHM). It’s where the company built its first homes in 2009. Since then, it has successfully completed multiple communities and hundreds of homes in the city. Today, NEW HOME announced its return to Irvine with Atlas, a collection of thoughtfully designed expansive residences within Rise at the Great Park Neighborhoods.
- 07/23/2020
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Simulation: Can Giants beat Cards in replay of 1987 NLCS?
- Back in 1987, there were just two divisions in each league in Major League Baseball, the East and the West. The Giants won the West with a 90-72 mark, while the St. Louis Cardinals took the East wi…
- 07/10/2020
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Links 7/2/2020 | naked capitalism
- Our popular daily links, including migrating birds, risk of financial crisis, climate, many COVID-19 outbreaks, herd immunity, asymptomatic transmission, the end of One Country, Two Systems, K-Pop, Putin wins referendum, death of the Lost Cause, municipal currencies, Linux maintainers, auctioneers
- 07/02/2020
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Simulation: Giants face Braves in virtual 1997 NL Championship
- Editor’s note: 1997 could have been a great year for the San Francisco Giants. Instead, it was just a good one. The Giants won the National League West, edging the Dodgers by two games. San F…
- 07/01/2020
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The New Home Company Schedules Second Quarter 2020 Earnings Release and Conference Call
- The New Home Company (NYSE: NWHM) today announced that the Company will release its financial results for the second quarter of 2020 before the market opens on Thursday, July 30, 2020. The Company will also host a conference call for investors and other interested parties beginning at 7:00 AM Pacific Time (10:00 AM Eastern Time) on that same day to review the results, discuss recent events and conduct a question-and-answer period.
- 06/30/2020
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See's Candies Announces Reopening Of Bay Area Stores
- The Peninsula-based candy maker had closed for just the second time in the company's 99-year history
- 06/30/2020
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Can Giants get revenge on Marlins?
- 1997 could have been a great year for the San Francisco Giants. Instead, it was just a good one. The Giants won the National League West, edging the Dodgers by two games. San Francisco faced the wi…
- 06/30/2020
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The New Home Company Schedules Second Quarter 2020 Earnings Release and Conference Call
- The New Home Company (NYSE: NWHM) today announced that the Company will release its financial results for the second quarter of 2020 before the market
- 06/30/2020
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Bay Area's first red flag warning of the season signals increased fire danger
- The Bay Area just received its first red flag warning of the season from the National Weather Service. The warning will be in effect from 10 p.m. Sunday through 8 p.m. on Monday in higher-elevation parts of Marin, Sonoma and Napa counties.
- 06/29/2020
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In Silicon Valley, developers bet big on the return to offices
- [NEW YORK] From New York to San Francisco to London and beyond, the cry has gone up in crowded cities: get me out of here! But as the coronavirus reshapes urban life — and prompts businesses to rethink where they want to be — a pair of California real estate investors are pushing what might seem like an unlikely vision for the future. Read more at The Business Times.
- 06/29/2020
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Bucs' first general manager Krueger dies
- Phil Krueger, who became part of the first coaching staff in Buccaneers history and later served as Tampa Bay's first general manager, died earlier this week.
A cause of death was not divulged for Krueger, who guided offensive backs, linebackers and special teams during his five seasons on the Buccaneers' coaching staff (1976-80). He then moved to the team's front office and in 1991 became the Buccaneers' first general manager.
- 06/27/2020
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In Silicon Valley, developers bet big on the return to offices - BNN Bloomberg
- Their idea: turn San Jose, San Francisco’s ho-hum suburban neighbour in the heart of Silicon Valley, into a denser, more citified place.
- 06/26/2020
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Google tightens privacy settings for new users
- SAN FRANCISCO • Google has begun auto-deleting new users’ search data and location history on a rolling 18-month basis, CEO Sundar Pichai announced, as the tech giant moves to tighten privacy settings.
The tweak was introduced on Wednesday and is the latest attempt by a big online firm to boost public trust after hefty […]
- 06/26/2020
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California sees spike in number of cases - for second straight day
- California on Tuesday saw some of its highest numbers of new coronavirus cases — surpassing 6,000 new cases in a 24-hour reporting period for the second day straight as the state barreled forward with reopening plans.
- 06/24/2020
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Mindfulness Training For Students: Stability In Stressful Times
- "The keys to good mental health for many people - stability, routine, interaction with peers - have all been taken away."
- 06/23/2020
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Hedge Funds Are Warming Up To The New Home Company Inc (NWHM)
- At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
- 06/22/2020
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Record number of Californians hospitalized with COVID-19
- California had 3,574 COVID-19 patients in its hospitals on Saturday, the highest total since the state began keeping records on April 1. Southern California counties are the hardest hit.
- 06/21/2020
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Nike Shoppers Form Long Line at L.A.’s Reopened Grove, Says Mall Owner - BNN Bloomberg
- The crowds weren’t huge, but people came to spend money at the Grove, a Los Angeles shopping center owned by developer Rick Caruso. It reopened this week after a three-month shut down for the Covid-19 pandemic, including a final week to repair damage to stores by looters.
- 06/19/2020
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Recent looting targeting marijuana shops disrupts supply chain, producing fallout in some wholesale markets
- Robberies and looting that targeted cannabis retailers during protests over the death of George Floyd have upended the marijuana supply chain in several markets.
- 06/18/2020
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Homebuilders: Clear Signs Of V-Shaped Recovery
- Homebuilders were slammed at the outset of the pandemic on fears that a coronavirus-induced recession could inflame a repeat of the Great Financial Crisis for t
- 06/17/2020
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Iowa defensive back Jack Koerner hurt in jet ski accident
- IOWA CITY, Iowa (AP) - Iowa defensive back Jack Koerner sustained serious injuries when he and a passenger on a jet ski collided with a boat on the Lake of the Ozarks in Missouri.
According to a police report, Koerner and Cole Coffin were hurt at about 6:30 p.m. Friday when their watercraft crashed into the side of a boat.
Coffin was taken to a hospital by aircraft. There was no immediate word on his injuries or condition. Koerner was taken to a hospital with non-life threatening injuries. No additional information was provided.
Iowa sports information said Koerner had finished the first week of voluntary workouts with his teammates and was at the lake with his father for a father-son weekend along with other West Des Moines families.
Koerner established himself as a key to the Hawkeyes' defense last season. He made a 81 tackles and had one interception in 2019.
___
More AP college football: https://apnews.com/Collegefootball and https://twitter.com/AP_Top25
- 06/14/2020
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Coronavirus news from the Bay Area: June 10-11
- The Chronicle began covering the coronavirus crisis before the first cases were reported in the Bay Area and a pandemic was declared. We reorganized the newsroom to dedicate nearly every resource to stories focusing on the health and economic disasters. Every day we have published live updates to reflect the most critical local, national and global updates on COVID-19, and this news is free of charge in an effort to keep our community safe and informed. • Read the previous batch of updates from June 8-9. • Read the previous batch of updates from June 12. • See the full timeline. Updates from Thursday, June 11: 11:30 p.m. Trump campaign says rally attendees assume COVID-19 risk: A note on President Trump’s website informs anyone registering for tickets to an indoor campaign rally on June 19 in Tulsa, Okla., that they cannot hold Trump’s campaign or the venue liable if they contract the coronavirus at the event. The website states: “By clicking register below, you are acknowledging that an inherent risk of exposure to COVID-19 exists in any public place where people are present. By attending the Rally, you and any guests voluntarily assume all risks related to exposure to COVID-19 and agree not to hold Donald J. Trump for President, Inc.; BOK Center; ASM Global; or any of their affiliates, directors, officers, employees, agents, contractors or volunteers liable for any illness or injury.” 11:08 p.m. Oregon...
- 06/13/2020
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24 Hour Fitness closes 18 Southern California gyms
- The chain’s webpage says: “24 Hour Fitness has made the difficult decision to close the following locations. Members, we invite you to work out at any reopened location throughout 2020.…
- 06/13/2020
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MLB Draft: San Francisco Giants keep it local, draft De La Salle pitcher in Round 3
- The left-hander is the first high school player the Giants have taken in the 2020 MLB Draft.
- 06/11/2020
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Lakers’ LeBron James to launch ‘More Than a Vote’ to energize voters, combat voter suppression
- The New York Times reports that James will partner with other sports and entertainment figures on a project aimed at inspiring African-Americans to register and cast a ballot.
- 06/11/2020
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Essential wine and drinks stories by writers of color
- I’m sharing some stories I love about wine and drinking by writers of color. This week’s newsletter is about their voices, not mine.
- 06/11/2020
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Simulation: As in real life, Giants take 3-2 lead in 2002 World Series
- Editor’s note: Giants fans who remember the 2002 World Series against the Anaheim Angels still have a bitter taste in their mouths. The Giants led the series three games to two and held a 5-0…
- 06/10/2020
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Zynga Stock Is Up 50% This Year. Why 1 Analyst Sees Plenty More Upside.
- Zynga’s recent acquisition of Peak, maker of mobile game Toon Blast, is set to contribute more than $80 million in ad revenue in 2021.
- 06/09/2020
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Iowa players voice unity amid racism allegations in program
- Iowa players returned to campus Monday to prepare for voluntary workouts amid an uproar after former Hawkeyes alleged systemic racism and other mistreatment in the program, the team's strength coach was placed on administrative leave and coach Kirk Ferentz's leadership was called into question.
About two dozen current players took to social media to voice messages of unity, with several referencing the death of George Floyd in Minneapolis and the social unrest in the country. None complained directly about his treatment inside the Iowa program.
"I'm a human before an athlete, I'm black before anything," redshirt freshman receiver Desmond Hutson tweeted. "There is an obvious problem and it's up to us to fix it."
Redshirt freshman offensive lineman Noah Fenske, who is white, tweeted he's on a team of brave men who want positive change.
"I'll be honest many tears rolled down my face during an hour and a half meeting of raw emotion and pain that we as players have felt during our short or longer periods at Iowa," Fenske wrote.
Ferentz, the nation's longest-tenured coach at one school at 22 years, indicated he was caught off guard when he read what ex-Hawkeyes offensive lineman James Daniels, now with the Chicago Bears, tweeted Friday.
"There are too many racial disparities in the Iowa football program. Black players have been treated unfairly for far too long," Daniels wrote.
Dozens of former players followed with anecdotes about bullying, racist remarks and other mistreatment while they were at Iowa. Several African American former players brought up issues they attributed to Doyle.
Former Iowa linebacker Terrance Pryor said Doyle had told him he should take up rowing, then added, "Oh, wait, black people don't like boats in water, do they?" Former...
- 06/08/2020
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Edited Transcript of NWHM earnings conference call or presentation 8-May-20 2:00pm GMT
- Q1 2020 New Home Company Inc Earnings Call
- 06/05/2020
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A McMansion of Art: The Non-Biography of Eddie Martinez
- Few artists have exploded in the auction market in 2019 as Martinez. But what lies behind the faceless abstract painter and what story is…
- 06/04/2020
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Tax planning is a hot topic amid a pandemic and a looming election - InvestmentNews
- Most advisers expect tax rates to go up, but opinions vary on how and when to plan for it.
- 06/01/2020
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3 things to know before traveling in California this summer
- Vacation season is dawning on the Golden State just as Gov. Gavin Newsom begins to loosen shelter-in-place rules.
- 05/30/2020
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Bay Area lawmakers were quick to call police killing of George Floyd 'murder'
- Bay Area politicians are using no uncertain terms to describe the death of George Floyd in Minneapolis, calling police actions “murder.”
- 05/30/2020
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65 Biggest Movers From Yesterday
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How Kamala Harris and other Bay Area lawmakers score in a ranking of bipartisanship in Congress
- The Bay Area’s representatives in Congress are more partisan than their peers, on average, according to a new index. But the rankings don’t always line up with perceptions of their ideology.
- 05/27/2020
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How Los Angeles County became coronavirus epicenter
- One of your neighbors posted in Neighbor Posts. Click through to read what they have to say. (The views expressed in this post are the author’s own.)
- 05/23/2020
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Tracing coronavirus clusters is critical for Bay Area's reopening, but requires balancing public health and privacy
- With other infectious diseases, public health officials will often release information to the public about where someone may have been infected or exposed others. They chose not to do that when the coronavirus first arrived, but that may change when shelter-in-place is lifted.
- 05/21/2020
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A's Plus: MLB's coronavirus proposals might feature a few positive changes
- As baseball considers ways to get back up and running, what could more regional play in 2020 mean for the A’s and the sport beyond this unusual year? What other changes might stick? The Chronicle’s Susan Slusser considers what might work long-term.
- 05/20/2020
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Who Could Win, Lose As US Homebuilding Starts Decline: Home Depot 'Performing Well' During Coronavirus Crisis
- The coronavirus capped groundbreaking on U.S. homebuilding projects at a five-year low for the month of April, according to a Tuesday report from the Commerce Department.
“...
- 05/19/2020
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It started as one reporter's spreadsheet: How our Coronavirus Tracker was built
- Data is everywhere these days. Here’s a behind-the-scenes look at how we ensure the Chronicle’s Coronavirus Tracker gets the latest numbers, along with important context to understand what they mean.
- 05/15/2020
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Twitter Employees Can Opt-Out of Office Life – Forever | The Daily Hodl
- Employees at Twitter got the official word on Tuesday: they never have to return to the office.
- 05/14/2020
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The emerging haves and have-nots of pandemic preparedness
- Some cities and states are much further ahead than others.
- 05/14/2020
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78 Biggest Movers From Yesterday
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The New Home Company Reports Grand Opening Sellout at Sterling at Esencia in Rancho Mission Viejo
- After postponing the public Model Homes Grand Opening in late March to keep its customers and team members safe during the COVID-19 health crisis, The New Home Company (NEW HOME, NYSE: NWHM) today announced brisk sales in the first three phases at Sterling, a collection of stunning two-story, single-family residences at Esencia in Rancho Mission Viejo. NEW HOME utilized virtual tours, social media and its Online Sales Concierge program, as well as highly personalized private tours, to present the model homes and communicate with buyers, resulting in the sale of 14 homes to date.
- 05/11/2020
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8-K: New Home Co Inc.
- nwhm20200505_8k.htm
false 0001574596 0001574596 2020-05-08...
- 05/09/2020
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The New Home Company Inc. (NWHM) CEO Leonard Miller on Q1 2020 Results - Earnings Call Transcript
- The New Home Company Inc. (NYSE:NWHM) Q1 2020 Earnings Conference Call May 8, 2020 10:00 AM ET Company Participants Drew Mackintosh - IR Larry Webb - Executive
- 05/09/2020
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New Home Co Q1 EPS $(0.050) Down From $(0.040) YoY, Sales $132.033M Beat $80.300M Estimate
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The New Home Company Inc. Adopts Tax Benefit Preservation Plan for Net Operating Losses
- The New Home Company Inc. (NYSE: NWHM) (the "Company") announced today that its Board of Directors (the "Board") has adopted a tax benefit preservation plan (the "Plan") to help preserve the value of its net operating losses and other tax attributes. As of March 31, 2020, the Company had approximately $85.7 million of gross deferred tax assets, which are valued on a tax-effected basis at approximately $16.6 million. The Company's gross deferred tax assets consist of tax attributes including at least $42.7 million of cumulative state net operating losses, $3.0 million of energy tax credits, and $25.8 million of basis differences in joint venture investments and inventories that may be carried forward and can be utilized in certain circumstances to reduce future taxable income. While we believe a portion of the deferred tax assets may be eligible to be carried back to offset U.S. federal income taxes due to the tax law changes arising from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, our ability to carry back such net operating losses is dependent on several factors, including the timing of when such tax assets become deductible.
- 05/08/2020
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The New Home Company Reports 2020 first Quarter Results
- The New Home Company Inc. (NYSE: NWHM) today announced results for the 2020 first quarter.
- 05/08/2020
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Essex Property Trust Inc. (ESS) CEO Michael Schall on Q1 2020 Results - Earnings Call Transcript
- Essex Property Trust Inc. (NYSE:ESS) Q1 2020 Earnings Conference Call May 7, 2020 13:00 ET Company Participants Michael Schall - President and Chief Executive O
- 05/08/2020
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The New Home Company Reports 2020 first Quarter Results
- The New Home Company Inc. (NYSE: NWHM) today announced results for the 2020 first quarter. Cash flow from operations of $17.3 million and cash and cas
- 05/08/2020
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Bank of New York Mellon Corp Sells 42,420 Shares of New Home Company Inc (NYSE:NWHM)
- Bank of New York Mellon Corp decreased its holdings in shares of New Home Company Inc (NYSE:NWHM) by 44.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,020 shares of the construction company’s stock after selling 42,420 shares during the period. Bank of New York […]
- 05/01/2020
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Coronavirus news from the Bay Area: April 25-26
- The Chronicle began covering the coronavirus crisis before the first cases were reported in the Bay Area and a pandemic was declared. We reorganized the newsroom to dedicate nearly every resource to stories focusing on the health and economic disasters. Every day we have published live updates to reflect the most critical local, national and global updates on COVID-19, and this news is free of charge in an effort to keep our community safe and informed. • Read the previous batch of updates from April 23-24. • Read the next batch of updates for April 27-28. • See the full timeline. Updates from Sunday, April 26: 11:45 p.m. Colorado to begin easing restrictions this week: Gov. Jared Polis on Sunday issued a “Safer at Home” order with procedures to begin peeling back Colorado’s coronavirus-related restrictions this week. Retail businesses can open for curbside delivery Monday and phase in a full opening Friday using “best practices.” Elective medical and dental procedures and real estate showings also can resume Monday. “Safer at Home is by no means a free-for-all,” Polis said in a release, noting residents still should remain home as much as possible and wear face masks in public. 11:32 p.m. Fear and mistrust in rural Georgia as governor launches reopening: While Gov. Evan Kemp now is encouraging businesses to reopen, including restaurants starting Monday,...
- 04/29/2020
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30 Stocks on a Deathwatch
- While some organizations will rise to the occasion, these “deathwatch” stocks face a particularly treacherous road ahead.
- 04/28/2020
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Unilever, L'Oreal among firms looking to buy makeup brand Charlotte Tilbury: Bloomberg
- Unilever Plc , L'Oreal SA and Estee Lauder Companies Inc are among firms vying to buy British makeup brand Charlotte Tilbury Beauty Ltd, Bloomberg reported https://www.bloomberg.com/news/articles/2020-04-28/unilever-puig-vie-with-makeup-giants-to-buy-charlotte-tilbury?srnd=markets-vp on Tuesday.
- 04/28/2020
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Unilever, L'Oreal among firms looking to buy makeup brand Charlotte Tilbury: Bloomberg
- Unilever Plc , L'Oreal SA and Estee Lauder Companies Inc are among firms vying to buy British makeup brand Charlotte Tilbury Beauty Ltd, Bloomberg reported https://www.bloomberg.com/news/articles/2020-04-28/unilever-puig-vie-with-makeup-giants-to-buy-charlotte-tilbury?srnd=markets-vp on Tuesday.
- 04/28/2020
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California Coaches Association honors dinner might be postponed due to coronavirus
- The California Coaches Association dinner in Sacramento, which that annually honors dozens of high school coaches, is on hold due to COVID-19. It is scheduled for June 13.
- 04/25/2020
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The New Home Company Schedules First Quarter 2020 Earnings Release and Conference Call
- The New Home Company (NYSE: NWHM) today announced that the Company will release its financial results for the first quarter of 2020 before the market opens on Friday, May 8, 2020. The Company will also host a conference call for investors and other interested parties beginning at 7:00 AM Pacific Time (10:00 AM Eastern Time) on that same day to review the results, discuss recent events and conduct a question-and-answer period.
- 04/20/2020
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Coronavirus news from the Bay Area: April 13-14
- The Chronicle began covering the coronavirus crisis before the first cases were reported in the Bay Area and a pandemic was declared. We reorganized the newsroom to dedicate nearly every resource to stories focusing on the health and economic disasters. Every day we have published live updates to reflect the most critical local, national and global updates on COVID-19, and this news is free of charge in an effort to keep our community safe and informed. • Read the previous batch of updates from April 11-12. • Read the next batch of updates for April 15-16. • See the full timeline. Updates from Tuesday, April 14: 11:55 p.m. J.C. Penney exploring bankruptcy amid pandemic, report says: Retailer J.C. Penney is exploring filing for bankruptcy protection with its stores temporarily closed due to the coronavirus pandemic, Reuters reports. The closure of its 850 department stores has led the company to furlough some employees and cut spending. J.C. Penney is contemplating filing for bankruptcy as a way to rework “unsustainable finances,” according to Reuters. 11:30 p.m. Bill Gates says that halting funding to WHO is ‘dangerous’: Bill Gates, the former chairman of Microsoft, reacted Tuesday night on Twitter to President Trump’s decision to halt U.S. funding to the World Health Organization. Gates’ tweet read:...
- 04/13/2020
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It Changed My Life: He is in the business of saving lives
- Steven Fang's brain is like a busy coffee machine, constantly percolating with ideas.. Read more at straitstimes.com.
- 04/11/2020
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SF downsizes Moscone shelter's coronavirus mission
- Moscone West, the convention facility that got a hasty makeover to provide 400 beds for shelter residents, will now be devoted to no more than 200 beds for homeless men and women coming out of quarantine.
- 04/07/2020
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California's food banks grapple with 'tsunami of need' as pandemic grows
- Facing waves of first-time visitors, workers say they had prepared for earthquakes or wildfires – but not this
- 04/03/2020
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30 Stocks on a Deathwatch
- While some organizations will rise to the occasion, these “deathwatch” stocks face a particularly treacherous road ahead.
- 03/31/2020
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80 Biggest Movers From Yesterday
- Gainers
Top Ships Inc. (NASDAQ: TOPS) shares surged 130.2% to close at $0.5399 on Monday after jumping 193% on Friday.
SuperCom Ltd. (NASDAQ: SPCB) shares jumped 120.4% to close...
- 03/31/2020
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Manufacturing & Industrial Automation Lead The Way | Direct2DellEMC
- I’m always surprised that some people think of manufacturing as stodgy, old school and slow to change – in my view, nothing could be further from the
- 03/30/2020
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Phoenix Woman Gives Hope & $100 to People in Need During Crisis
- One of your neighbors posted in Neighbor News. Click through to read what they have to say. (The views expressed in this post are the author’s own.)
- 03/25/2020
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Building Industry Spotlight: Changing demographics create diverse housing mix
- With average lot sizes at about 2,800 square feet, the 57-unit La Maison at Diamond Creek project in Roseville is an example of how single-family development is becoming denser.
- 03/13/2020
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Coronavirus: Trump claims 'very large scale' testing; Indonesia cases double
- President Donald Trump said Friday that coronavirus testing in the U.S. would soon take place on a "very large scale basis."
- 03/13/2020
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The New Home Company Set to Unveil Sterling at Esencia in Rancho Mission Viejo
- The New Home Company (NEW HOME, NYSE: NWHM) today announced the Model Home Grand Opening for Sterling, a collection of stunning two-story, single-family residences on a hilltop setting at Esencia in Rancho Mission Viejo. NEW HOME will debut three furnished models on Saturday, March 21, 2020. Sterling is the final neighborhood to open at Esencia and will be the last new models in Rancho Mission Viejo until early 2022.
- 03/12/2020
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New Home Company, Inc., The -- Moody's affirms New Home's CFR at B3, outlook stable
- Moody's Investors Service (Moody's) affirmed the B3 Corporate Family Rating (CFR), B3-PD Probability of Default Rating and B3 senior unsecured notes rating of The New Home Company, Inc. (NWHM). The affirmation reflects Moody's view of modestly improving, but still strained, credit metrics and continued geographic concentration in California. The downgrade of the SGL rating reflects Moody's expectation of increased investments in land over the next 18 months as well as the upcoming expiration of the company's unsecured revolver in March 2021.
- 03/10/2020
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The New Home Company Provides Best Purchase and Ownership Experiences in the Country According to National Customer Satisfaction Eliant Awards
- Last week, The New Home Company (NEW HOME) (NYSE: NWHM) received "The Eliant" award for providing its customers with the best purchase and ownership experiences of any builder in the United States. The honor was presented during the 24th annual Eliant Homebuyers’ Choice Awards.
- 03/10/2020
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Coronavirus, oil collapse erase $5 trillion from U.S. stocks
- Coronavirus, oil collapse erase $5 trillion from U.S. stocks
- 03/09/2020
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Edited Transcript of NWHM earnings conference call or presentation 13-Feb-20 10:00pm GMT
- Q4 2019 New Home Company Inc Earnings Call
- 03/05/2020
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Homebuilders: Rate Cuts Add Fuel To Resurgent Housing Market
- Homebuilders - which helped to power the economy up the wall-of-worry last year - may be a significant beneficiary of the sharp plunge in long-term interest rat
- 03/04/2020
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New Home Sees Home Sales $75M-$90M, Fee Building Sales $20-$30M
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New Home Co Q4 EPS $0.15 Misses $0.46 Estimate, Sales $222.136M Beat $175.4M Estimate
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The New Home Company Reports 2019 Fourth Quarter and Full Year Results
- The New Home Company Inc. (NYSE: NWHM) today announced results for the 2019 fourth quarter and full year.
- 02/13/2020
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The New Home Company Set to Open Nova, a Community of Attainably Priced Townhomes and Flats in Rancho Cucamonga
- As part of its commitment to attainable homeownership in the Inland Empire, The New Home Company (NEW HOME; NYSE: NWHM) today announced the opening of Nova, a neighborhood of 135 three-story townhomes and single-stacked flats. Nova is located in The Resort, a vibrant master-planned urban village by Lewis Community Developers taking shape in southeast Rancho Cucamonga close to jobs, shopping, entertainment and transportation. NEW HOME will host a Model Home Grand Opening at Nova this Saturday, February 8, 2020.
- 02/03/2020
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Super Bowl: San Francisco 49ers 20-31 Kansas City Chiefs – as it happened
- Live updates: Patrick Mahomes led the Kansas City Chiefs from the brink of defeat to the team’s first NFL championship in five decades
- 02/03/2020
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BYD Builds New Lithium-Powered Forklift Facility In Southern California
- BYD continues to sprint towards electrifying every vehicle category in the world with news today that it is adding an electric forklift production facility in the Southern California city of Rancho Dominguez. The new 50,000 square foot facility will also include supporting offices, warehousing, and demonstration space to show potential customers what these new lithium iron phosphate-powered vehicles are capable of.
- 01/30/2020
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The New Home Company Unveils EVO Home Tech Program Powered by Partnerships with Brilliant and Savant
- As part of its dedication to creating today’s most evolved new homes with the best of tomorrow’s ideas, The New Home Company (NEW HOME; NYSE: NWHM) has unveiled EVO Home Tech. The technology-forward program integrates modern digital features with unparalleled connectivity, ease of use, customization and efficiency. Advanced smart-home systems from Brilliant and Savant allow NEW HOME buyers to centralize and easily control everything from lighting and utilities to security and entertainment for increased convenience, safety and cost savings.
- 01/21/2020
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NFC championship game: Green Bay Packers 20-37 San Francisco 49ers – as it happened!
- Rolling report: The San Francisco 49ers defeated the Green Bay Packers 37-20 to win the NFC Championship and a spot in Super Bowl LIV v the Kansas City Chiefs
- 01/20/2020
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The New Home Company Schedules Fourth Quarter 2019 Earnings Release and Conference Call
- The New Home Company (NYSE: NWHM) today announced that the Company will release its financial results for the fourth quarter of 2019 shortly after the market closes on Thursday, February 13, 2020. The Company will also host a conference call for investors and other interested parties beginning at 2:00 PM Pacific Time (5:00 PM Eastern Time) on that same day to review the results, discuss recent events and conduct a question-and-answer period.
- 01/15/2020
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How Much Are The New Home Company Inc. (NYSE:NWHM) Insiders Spending On Buying Shares?
- We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...
- 01/06/2020
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Hedge Funds Have Never Been More Bullish On The New Home Company Inc. (NWHM)
- We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]
- 12/16/2019
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Homebuilders: Rejuvenation Set To Continue Into 2020
- Left for dead early in the year, homebuilders have sprung back to life this year - surging more than 50% - after falling into a mini housing recession in 2018.
- 12/12/2019
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Dublin ranked the worst city in the world to move to for housing
- Revealed: Best and worst cities to live and work in 2020
- 12/03/2019
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Edited Transcript of NWHM earnings conference call or presentation 31-Oct-19 4:00pm GMT
- Q3 2019 New Home Company Inc Earnings Call
- 11/16/2019
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Gratia Capital, Llc Buys Global Ship Lease Inc, FS KKR Capital Corp, The New Home Co Inc, Sells ...
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Real estate developers planning multiple housing projects in Folsom
- A series of land deals in recent weeks with more in the offing, involving several homebuilders, suggests there are plenty of new rooftops planned for what’s now being called Folsom Ranch.
- 11/08/2019
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New Home Company, Inc., The -- Moody's announces completion of a periodic review of ratings of New Home Company, Inc., The
- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of The New Home Company, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
- 11/04/2019
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New Home Company, Inc. (NWHM) CEO Lawrence Webb on Q3 2019 Results - Earnings Call Transcript
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The New Home Sees Q4 Home Sales Revenue Of $140M-$160M
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New Home Company Q3 EPS $0.01 Misses $0.02 Estimate, Sales $165.616M Beat $126.9M Estimate
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New Home EPS misses by $0.25, beats on revenue
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The New Home (NYSE:NWHM) Share Price Is Down 64% So Some Shareholders Are Wishing They Sold
- While it may not be enough for some shareholders, we think it is good to see the The New Home Company Inc. (NYSE:NWHM...
- 10/29/2019
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New Home Company: Things May Improve, However Stock Still Appears Overvalued
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Stocks That Hit 52-Week Lows On Monday
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Edited Transcript of NWHM earnings conference call or presentation 30-Jul-19 3:00pm GMT
- Q2 2019 New Home Company Inc Earnings Call
- 08/02/2019
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The New Home Q2 EPS $0.08 Beats $0.02 Estimate, Sales $162.749M Beat $138.2M Estimate
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Our Take On The New Home Company Inc.'s (NYSE:NWHM) CEO Salary
- In 2010 Larry Webb was appointed CEO of The New Home Company Inc. (NYSE:NWHM). This analysis aims first to contrast...
- 07/11/2019
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62 Biggest Movers From Yesterday
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Hudson Technologies and Skyline Champion among industrial gainers; Hovnanian Enterprises leads the losers
- No summary available.
- 05/22/2019
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SF police raid journalist's home in probe over leaked Adachi report
- San Francisco police on Friday raided the home of a freelance journalist who provided three Bay Area television stations with a copy of a police report into the death of Public Defender Jeff Adachi, the journalist and police officials said.
- 05/11/2019
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Third Avenue Management - The New Home Company
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The New Home Sees Q2 Home Sales $110M-$130M
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Third Avenue Real Estate Value Fund Portfolio Manager Commentary Q1 2019
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71 Biggest Movers From Yesterday
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61 Biggest Movers From Friday
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The New Home Sees Q1 Home Sales Revenue $80M-$90M
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Stocks Which Set New 52-Week Low Yesterday, Thurs., Dec. 13, 2018
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Stocks Which Set New 52-Week Low The Last Trading Session, Fri., Dec. 7, 2018
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Remembering the Leslie Salt Mountain: Bay Area's odd, glistening landmark
- It was thousands of feet shorter than Mount Hamilton. Its views were far less spectacular than Mount Diablo’s. No one hiked it like they did Mount Tamalpais. But the Leslie Salt Mountain was a Bay Area landmark nonetheless, even if it was made solely of sodium chloride. A recent trip to The Chronicle’s archive turned up images of the region’s salt-harvesting industry that ringed San Francisco Bay, including the glistening Leslie Salt Mountain off Highway 101 in Redwood City. Many of the photos — and one advertisement more than a century old — haven’t been seen in decades. >> Salt mining in the Bay Area has been going on for longer than California has been a state.
- 11/28/2018
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New Home Company Q3 EPS $0.12 Beats $0.08 Estimate, Sales $159.114M Beat $141.7M Estimate
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48 Biggest Movers From Yesterday
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Stocks Which Set New 52-Week Low Friday, October 5th
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Stocks Which Set New 52-Week Low Yesterday, October 3rd
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Stocks Which Set New 52-Week Low Yesterday, October 1st
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Browning, No. 11 Washington picks apart sluggish No. 20 BYU
- SEATTLE (AP) — Jake Browning completed 23 of 25 passes for 277 yards and one touchdown, and No. 11 Washington was thoroughly dominant on both sides in a 35-7 rout
- 09/30/2018
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Stocks Which Set New 52-Week Low Yesterday, August 16th
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Stocks Which Set New 52-Week Low Yesterday, August 7th
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Stocks Which Set New 52-Week Low Yesterday, August 6th
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New Home Co. Sees FY18 Home Sales Rev. Of $580-$620M, Fee Building Rev. Of $140-$160M
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Stocks Which Set New 52-Week Low Friday, July 27
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Stocks Which Set New 52-Week Low Yesterday, July 26th:
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Stocks Which Set New 52-Week Low Yesterday, July 25th
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JP Morgan Downgrades New Home to Underweight
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Is The New Home Company About To Be Acquired?
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On Zelman Associates Research Page, The Firm Says It Is Reducing Estimates And Downgrading Toll Brothers, TRI Pointe Group, and New Home Co. As Builder Survey Points To Decelerating Growth
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New Home Company Announces $15M Buyback
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The New Home Q1 EPS $(0.03) Beats $(0.05) Estimate, Sales $123.23M Beat $109.75M Estimate
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JMP Securities Downgrades The New Home Co Inc to Market Perform
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The New Home Company Reports Q4 Adj. EPS $0.65 vs $0.64 Est., Sales $324.1M vs $295M Est.
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New Home Co. S-3 Shows Registration For $450M Mixed Securities Shelf Offering
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New Home Company Inc. Is Poised For An Exceptional 2018
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32 Biggest Movers From Friday
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The New Home Company Acquires Land for Collection of Spacious Residences at Somerset in Gilbert, Arizona; Terms Not Disclosed
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The New Home Co. Reports Q3 EPS $0.21 vs $0.17 Est., Sales $157.9M vs $144.6M Est.
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The New Home Company Sees FY17 Home Sales Revenue Of $540-$570M
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The New Home Company Q4 Adj EPS $0.76 vs $0.68, Revenue $322.4M vs $280.4M Est
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The New Home Company Announces CIO Wayne Stelmar To Retire Effective Feb. 17, COO Tom Redwitz To Assume The CIO Role While Leonard Miller To Join As COO Effective March 13
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The New Home Co. Sees FY16 Home Sales Revenue $470M-$500M, Fee Building Sales $160M-$180M
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Citigroup On Homebuilding M&A Possibilities: DR Horton, Toll Brothers And PulteGroup Targets In Focus
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The New Home Company Revises Q3 Conf. Call Time To 12 Noon EST Nov. 4th
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Top Performing Industries For September 30, 2016
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Worst Performing Industries For August 30, 2016
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Worst Performing Industries For August 18, 2016
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Worst Performing Industries For August 1, 2016
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The New Home Company LLC's (NWHM) CEO Lawrence Webb on Q2 2016 Results - Earnings Call Transcript
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