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Sep 30, 2020
Tri Pointe Q3 2020 Earnings Report
TRI Pointe Group reported outstanding results driven by strong housing fundamentals and effective operational strategies.
Key Takeaways
TRI Pointe Group reported a strong third quarter in 2020, with a 50% year-over-year increase in net new home orders and a net income of $78.7 million, or $0.61 earnings per share. The company benefited from low interest rates and limited inventory.
Net new home orders increased by 50% year-over-year.
Backlog dollar value rose by 39% year-over-year.
Homebuilding gross margin was 22.1%.
Diluted earnings per share reached $0.61.
Forward Guidance
For the fourth quarter of 2020, the Company anticipates delivering between 1,400 and 1,500 homes at an average sales price between $625,000 and $635,000. The Company expects its homebuilding gross margin percentage will be in the range of 20.5% to 21.5% for the fourth quarter of 2020 and anticipates its SG&A expense as a percentage of homes sales revenue will be in the range of 9.8% to 10.3% during such period. Lastly, the Company expects its effective tax rate for the fourth quarter of 2020 will be in the range of 25.0% to 25.5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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