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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.
Tri Pointe
Tri Pointe
Tri Pointe Revenue by Geographic Location
Revenue by Geographic Location
Arizona Revenue
CapyFin.comCalifornia Revenue
CapyFin.comNevada Revenue
CapyFin.comWashington Revenue
CapyFin.comColorado Revenue
CapyFin.comTexas Revenue
CapyFin.com 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