Good afternoon, everyone, and welcome to the Green Brick Partners' Earnings Call for the Third Quarter Ending September 30th, 2019. Following today's remarks, we will have a question-and-answer session. As a reminder, this call is being recorded and will be available for playback.
A slide show supporting today's presentation is available on Green Brick Partners' website www.greenbrickpartners.com go to Investors & Governance, then click on the option that says Reporting, and then scroll down the page until you see the third quarter investor call presentation. The Company reminds you that during this conference call, it will make various forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the business of Green Brick Partners are based on current expectations and are subject to risks and uncertainties. A few factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. Please read the cautionary statement regarding forward-looking statements contained in the Company's press release, which was released on Thursday, November 7th, and the risk factors described in the Company's most recent annual and quarterly filings with the Securities and Exchange Commission. Green Brick Partners undertakes no duty to update any forward-looking statements that are made during this call.
Today, the Company will be referring to pretax income attributable to Green Brick; pretax income attributable to Green Brick as a percentage of total revenues; pretax income as a percentage of average invested capital; EBITDA; net income return on average equity; and adjusted homebuilding gross margins, which are non-GAAP financial measures. The reconciliation of adjusted homebuilding gross margin to homebuilding gross margin and the reconciliation of net income attributable to Green Brick to adjusted pretax income attributed to Green Brick are both contained in the earnings release that Green Brick issued yesterday.
I would now like to turn the conference over to Green Brick's CEO, Jim Brickman. Please go ahead, sir.
James R. Brickman
Okay, thank you. Hi, everybody. With me is Rick Costello, our CFO and Jed Dolson, the President of our Texas region. Thanks again for joining our call. It's always great to share some good results with you.
As the operator mentioned, the presentation of the Company's earnings call can be found on our webpage at greenbrickpartners.com. At the top of the webpage click on Investors & Governance, then click on the option that says Reporting and then scroll down the page until you see the third quarter investor call presentation. I'll give everybody a few seconds to get this done.
Okay. We had a record-setting third quarter with EPS at its highest level of $0.31. This is up 29%, and with home closing revenues are record $197 million, up 44% both compared to the third quarter of 2018. Sales pace is typically a bit slower when opening new neighborhoods. Even though we increased our community count by
James R. Brickman
Co-Founder, Chief Executive Officer and Director
President of Texas Region
Richard A. Costello
Chief Financial Officer
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