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Sep 30, 2024
Tri Pointe Q3 2024 Earnings Report
Tri Pointe Homes reported excellent financial results driven by a 32% increase in deliveries and a 2% rise in average sales price.
Key Takeaways
Tri Pointe Homes reported a strong third quarter in 2024, marked by a 32% increase in home deliveries, a 2% rise in average sales price, and a 35% growth in home sales revenue. The company expanded gross margins by 100 basis points and achieved diluted earnings per share of $1.18, representing a 55% increase compared to the previous year.
Achieved a 32% increase in home deliveries, totaling 1,619 homes.
Increased home sales revenue by 35% to $1.1 billion.
Expanded gross margins by 100 basis points to 23.3%.
Reported diluted earnings per share of $1.18, a 55% increase year-over-year.
Revenue by Segment
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 $700,000 and $710,000. The Company expects homebuilding gross margin percentage to be in the range of 23.0% to 23.5% for the fourth quarter and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 10.5% to 10.9%. Finally, the Company expects its effective tax rate for the fourth quarter to be approximately 26.0%.
Positive Outlook
- Deliver between 1,600 and 1,800 homes
- Average sales price between $700,000 and $710,000
- Homebuilding gross margin percentage to be in the range of 23.0% to 23.5%
- SG&A expense as a percentage of home sales revenue will be in the range of 10.5% to 10.9%.
- Effective tax rate for the fourth quarter to be approximately 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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