Genesis Reports Fourth Quarter and 2025 Results

Executive Summary

• Genesis Land Development Corp. reported FY 2025 revenue of $381.2 M (up from $361.1 M in FY 2024) and net earnings of $39.2 M, essentially flat year‑over‑year.
• Q4 2025 revenues rose to $134.6 M versus $104.6 M a year earlier; net earnings for the quarter were $17.9 M, up from $12.6 M in Q4 2024.
• The company completed a sale of its 40% stake in Hazel Lands Limited Partnership for $19.1 M and secured a new $105 M revolving credit facility on February 11 2026.

Key Details

• Revenue: FY 2025 total revenues $381,159 k; Q4 2025 $134,607 k (vs. $104,647 k in Q4 2024).
• Net Earnings: FY 2025 net earnings $39,243 k ($0.69 EPS); Q4 2025 net earnings $17,929 k ($0.31 EPS).
• Dividends: Total cash dividends FY 2025 $12.187 M ($0.215 per share); Q4 2025 dividend $0.11 per share.
• Lot & Home Sales: FY 2025 sold 760 residential lots (up 5%) and 405 homes (up 1%); Q4 2025 sold 328 lots and 121 homes.
• New Home Orders: FY 2025 302 new home orders (down from 419 in FY 2024); Q4 2025 81 new orders; outstanding orders at year‑end 162 units.
• Land Servicing Activity: FY 2025 land servicing expense $55.0 M (down from $66.9 M).
• Hazel Lands LP Sale: Sold 40% stake for total proceeds $19.1 M ($13.7 M cash + debt assumption). Closed Dec 17 2025.
• Credit Facility: New secured revolving credit facility of $105 M (including $100 M revolver and $5 M letter‑of‑credit sub‑facility) with three‑year term, signed Feb 11 2026.
• Balance Sheet Highlights (Dec 31 2025): Cash & cash equivalents $17.511 M; total assets $622.284 M; loan & credit facilities $136.441 M; shareholders’ equity $298.488 M.
• Outlook: Management expects continued market uncertainty into 2026, noting potential impacts from geopolitical risks and macro‑economic conditions on the Calgary real estate market.

Notable Quotes

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