Logotype for M.D.C. Holdings Inc

M.D.C. (MDC) investor relations material

M.D.C. Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for M.D.C. Holdings Inc
Q3 2024 earnings summary4 Nov, 2024

Executive summary

  • Net income for Q3 2024 rose 24% year-over-year to $133.5 million, driven by strong financial services performance and a lower effective tax rate; nine-month net income was $254.5 million, down 10% from the prior year due to higher SG&A and merger-related costs.

  • Home sale revenues increased 28% year-over-year in Q3 2024, with 2,539 homes delivered, while gross margin from home sales declined to 17.8% from 19.2% due to higher incentives and land costs.

  • The company completed a $4.9 billion merger with SH Residential Holdings, LLC in April 2024, resulting in delisting from the NYSE and significant transaction and executive compensation expenses.

Financial highlights

  • Q3 2024 home sale revenues: $1.39 billion (up 28% year-over-year); nine-month revenues: $4.12 billion (up 28%).

  • Q3 2024 net income: $133.5 million (up 24% year-over-year); nine-month net income: $254.5 million (down 10%).

  • Q3 2024 gross margin from home sales: 17.8% (down 140 bps year-over-year); nine-month gross margin: 17.8% (up 30 bps).

  • Financial services pretax income for Q3 2024: $27.9 million (up 125% year-over-year); nine-month pretax income: $68.2 million (up 33%).

  • Inventory impairments for Q3 2024: $6.3 million; nine-month impairments: $16.8 million (down from $27.5 million prior year).

Outlook and guidance

  • Management expects to navigate market volatility with a strong balance sheet, $1.10 billion in cash and marketable securities, and no senior note maturities until 2030.

  • Focus remains on building quick move-in inventory to meet demand and minimize cancellations, with a two- to three-year lot supply.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

M.D.C. Holdings Inc. is a homebuilding and financial services company. It operates through its subsidiaries to design, build, and sell single-family homes, and also offers mortgage financing and insurance services to homebuyers. The company is headquartered in Denver, Colorado, and its shares are listed on the NYSE.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage