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Mar 31, 2020
Tri Pointe Q1 2020 Earnings Report
TRI Pointe Group reported first quarter results with increased new home orders and backlog dollar value year-over-year and diluted earnings per share of $0.24.
Key Takeaways
TRI Pointe Group reported strong first quarter results, with a focus on employee and customer well-being amidst the COVID-19 outbreak. The company saw a 26% year-over-year increase in new home orders and a 31% increase in backlog dollar value. Despite the uncertain economic environment, TRI Pointe remains optimistic about the long-term outlook for the housing industry.
Net income was $31.9 million, or $0.24 per diluted share.
Home sales revenue increased by 21% to $594.8 million.
New home orders rose by 26% year-over-year.
Backlog dollar value increased by 31% year-over-year to $1.6 billion.
Revenue by Segment
Forward Guidance
Due to the uncertainty regarding the effects of the COVID-19 pandemic on both the U.S. economy and the Company’s business operations and financial performance, the Company has withdrawn its previously issued guidance for fiscal 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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