Genesis Reports 2025 Third Quarter Results and Declares a Special Dividend of $0.11

Executive Summary

• Genesis Land Development Corp. reported Q3 2025 revenue of $116.9 M and nine‑month revenue of $246.6 M, a decline versus the prior year.
• Net earnings fell to $8.6 M for Q3 2025 ($0.16 EPS) and $21.3 M for the first nine months ($0.38 EPS), down from 2024 levels.
• The company declared an unconditional special cash dividend of $0.11 per common share (total $6.2 M), payable November 28, 2025.

Key Details

• Revenue
• Q3 2025: $116,926 k (up from $93,131 k in Q3 2024)

• YTD 2025: $246,552 k (down from $256,414 k in YTD 2024)

• Net Earnings

• Q3 2025: $8,590 k ($0.16 per share) vs. $12,003 k ($0.22) in Q3 2024

• YTD 2025: $21,314 k ($0.38 per share) vs. $26,980 k ($0.48) in YTD 2024

• Lot & Home Sales

• Residential lots sold YTD 2025: 432 (‑24% YoY); Q3 2025: 318 (+48% QoQ)

• Homes sold YTD 2025: 284 (‑3% YoY); Q3 2025: 108 (+6% QoQ)

• New Home Orders

• YTD 2025: 221 orders (down from 312 in 2024)
• Q3 2025: 81 orders vs. 77 in Q3 2024

• Outstanding orders at Sept 30 2025: 202 (vs. 265 on Sept 30 2024)

• Land Servicing Activity

• YTD 2025: $47.4 M (down from $52.5 M in YTD 2024)

• Balance Sheet Highlights (as of Sept 30, 2025)

• Cash & cash equivalents: $26,446 k (up from $21,414 k)
• Total assets: $627,944 k (↑ $50,226 k)

• Loan and credit facilities: $162,661 k (↑ $29,167 k) – 26% of total assets

• Dividend

• Special cash dividend: $0.11 per common share, total $6.2 M

• Record date: November 18, 2025; payable November 28, 2025

• Outlook Commentary

• Management expects continued economic uncertainty into 2026, potentially affecting new home orders and profitability.
• Ongoing focus on cost management, labor shortages, material supply constraints, and monitoring of Canada‑U.S. trade tensions.

Notable Quotes

“Genesis continues to execute on its 2025 business plan while carefully monitoring current market conditions,” – President & CEO PS Sidhu.