SHARPE
Reported results
- Net income of $12.6 million, or $0.44 per diluted share
- Adjusted net income of $28.8 million, or $1.01 per diluted share
- Total revenues of $864.5 million, with home sales revenues of $842.5 million
- GAAP homebuilding gross margin of 15.0% inclusive of inventory impairment charges
- Adjusted homebuilding gross margin of 19.3%
- Adjusted EBITDA and EBITDA for the third quarter 2026 were $63.4 million and $37.1 million, respectively
Guidance
- Full year 2026 home deliveries expected to be in the range of 9,350 to 9,650 homes, including 100 deliveries from HistoryMaker in the fourth quarter
- Full year 2026 home sales revenues expected to be in the range of $3.3 billion to $3.4 billion
Notes
Beginning in the fourth quarter of 2025, inventory impairment was reclassified to be included in cost of home sales revenues rather than presented as a separate line item, and stock-based compensation expense was added as an adjustment in non-GAAP adjusted EBITDA calculation, with prior periods reclassified/recast to conform to presentation.
Price and volatility reaction
The stock moved -5.5% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -14.6 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 56.69 | 2026-10-28 |
| Close after release | 53.56 | 2026-10-29 |
| Realised move | -5.5% | close to close |
| 30d ATM IV change | -14.6 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-28 (8-K, Item 2.02). Read the original filing on sec.gov.