Tri Pointe Q2 2023 Earnings Report
Key Takeaways
Tri Pointe Homes reported strong Q2 2023 results with home sales revenue of $819 million and net income of $61 million, or $0.60 per diluted share. The company saw a 41% increase in net new home orders and an 18% increase sequentially from Q1 2023, driven by limited housing supply and demographic factors.
Net new home orders increased by 41% year-over-year.
Home sales revenue reached $819 million.
Diluted earnings per share were $0.60.
Total liquidity reached $1.7 billion.
Tri Pointe
Tri Pointe
Tri Pointe Revenue by Geographic Location
Forward Guidance
For the third quarter, the Company anticipates delivering between 1,000 and 1,100 homes at an average sales price between $690,000 and $700,000. The Company expects homebuilding gross margin percentage to be in the range of 21.0% to 22.0% for the third 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 third quarter to be in the range of 26.0% to 27.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income