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Sep 30, 2023
Tri Pointe Q3 2023 Earnings Report
Tri Pointe Homes reported a strong operational performance in Q3 2023, surpassing delivery guidance and generating home sales revenue.
Key Takeaways
Tri Pointe Homes reported a strong operational performance in the third quarter, with home sales revenue of $825 million and net income available to common stockholders of $75.4 million, or $0.76 per diluted share. Net new home orders increased 122% year-over-year to 1,513, and active selling communities increased 23% year-over-year to 163.
Net new home orders increased 122% year-over-year to 1,513.
Active selling communities increased 23% year-over-year to 163.
Home sales revenue was $825 million.
Diluted earnings per share was $0.76.
Revenue by Geographic Location
Forward Guidance
For the fourth quarter, the Company anticipates delivering between 1,600 and 1,800 homes at an average sales price between $670,000 and $680,000. The Company expects homebuilding gross margin percentage to be in the range of 22.0% to 23.0% for the fourth quarter and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 10.0% to 11.0%. Finally, the Company expects its effective tax rate for the fourth quarter to be in the range of 25.5% to 26.0%.
Positive Outlook
- Anticipates delivering between 1,600 and 1,800 homes
- Average sales price between $670,000 and $680,000
- Homebuilding gross margin percentage to be in the range of 22.0% to 23.0%
- SG&A expense as a percentage of home sales revenue will be in the range of 10.0% to 11.0%
- Effective tax rate for the fourth quarter to be in the range of 25.5% to 26.0%
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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