Tri Pointe Q4 2022 Earnings Report
Key Takeaways
Tri Pointe Homes announced strong Q4 2022 results, with record quarterly home sales revenue of $1.5 billion and diluted earnings per share of $1.98. The company also announced a new stock repurchase program authorizing up to $250 million of common stock repurchase through December 31, 2023.
Diluted Earnings Per Share increased to $1.98, up 49% year-over-year.
New Home Deliveries reached 2,016, resulting in Home Sales Revenue of $1.5 Billion.
Homebuilding Gross Margin Percentage was 25.0%.
Pre-tax Margin stood at 18.0%.
Tri Pointe
Tri Pointe
Forward Guidance
For the first quarter of 2023, the Company anticipates delivering between 750 and 850 homes at an average sales price between $720,000 and $730,000. The Company expects its homebuilding gross margin percentage to be in the range of 23.0% to 24.0% for the first quarter of 2023 and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 14.0% to 14.5%. Lastly, the Company expects its effective tax rate for the first quarter of 2023 to be in the range of 26.0% to 27.0%.