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Jun 30, 2024
Tri Pointe Q2 2024 Earnings Report
Tri Pointe Homes reported outstanding Q2 2024 results driven by focus on expanding scale and efficiencies within existing markets while building a foundation for future growth in new markets.
Key Takeaways
Tri Pointe Homes reported strong Q2 2024 results, with home sales revenue of $1.1 billion, a 38% increase year-over-year. Net income increased by 94% to $118 million, and diluted earnings per share increased by 108% to $1.25. The company also reduced debt by $450 million and lowered its homebuilding debt-to-capital ratio to a record low of 22.9%.
Home sales revenue increased by 38% to $1.1 billion.
Homebuilding gross margin percentage increased 320 basis points year-over-year to 23.6%.
Diluted earnings per share increased by 108% to $1.25.
Debt was reduced by $450 million, and the homebuilding debt-to-capital ratio decreased to 22.9%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the third quarter, the Company anticipates delivering between 1,450 and 1,550 homes at an average sales price between $685,000 and $695,000. The Company expects homebuilding gross margin percentage to be in the range of 23.0% to 23.5% for the third quarter and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 11.0% to 11.5%. Finally, the Company expects its effective tax rate for the third quarter to be approximately 25.5%.
Positive Outlook
- Deliveries between 1,450 and 1,550 homes
- Average sales price between $685,000 and $695,000
- Homebuilding gross margin percentage between 23.0% and 23.5%
- SG&A expense as a percentage of home sales revenue between 11.0% and 11.5%
- Effective tax rate of approximately 25.5%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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