New Home Company Inc. (the) (NYSE:NWHM)

NWHM ($14.28), LGIH ($17.20) - On April 23, 2015 we highlighted $LGIH along with $NWHM as two home builders we were tracking. See our reasons for tracking here.  Yesterday, LGIH reported strong Q1 2015 financial results.  Today, NWHM reported strong Q1 2015 results:

• Q1 2015 revenues of $102.9 million vs $25.6 million in the prior year and crushes analyst estimates of $60.7 million.

• Q1 2015 EPS of $0.28 vs $0.11 in the prior year and well ahead of analyst estimates of $0.17.

Comments from management:

“The benefits of our diverse growth strategy were evident during the quarter and we are pleased by the strong execution across our entire operating platform,” stated Larry Webb, Chief Executive Officer. “During the first quarter, we significantly expanded our revenues and improved our profitability across all project activities. We ended the quarter with a dramatically improved backlog in our wholly owned and JV operations which will continue to drive strong results and meaningful returns. Further, the significant improvement in SG&A leverage reflects the steps we have taken to focus on our wholly owned operations. As we look forward to the balance of 2015, we are committed to executing our strategy and expect to deliver on our growth and profit objectives for the full year 2015.”