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Mar 31, 2023
Tri Pointe Q1 2023 Earnings Report
Tri Pointe Homes reported first quarter results, featuring diluted earnings per share of $0.73 and home sales revenue of $768 million.
Key Takeaways
Tri Pointe Homes announced strong Q1 2023 results, with home sales revenue reaching $768 million and net income available to common stockholders at $75 million, resulting in diluted earnings per share of $0.73. The company saw a boost in net new home orders and reduced cancellation rates due to product repositioning and targeted pricing strategies. With a solid balance sheet and high liquidity, Tri Pointe Homes is well-positioned for future growth.
Diluted earnings per share were reported at $0.73.
Home sales revenue reached $768 million.
Net new home orders totaled 1,619, with a monthly absorption rate of 4.0.
The company's debt-to-capital ratio stood at 32.5%, with total liquidity of $1.7 billion.
Revenue by Geographic Location
Forward Guidance
For the second quarter, the Company anticipates delivering between 900 and 1,000 homes at an average sales price between $720,000 and $730,000. The Company expects homebuilding gross margin percentage to be in the range of 22.0% to 23.0% for the second quarter and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 12.0% to 13.0%. Finally, the Company expects its effective tax rate for the second quarter to be in the range of 26.0% to 27.0%. For the full year, the Company anticipates delivering between 4,500 and 5,000 homes at an average sales price between $690,000 and $700,000.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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