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Dec 31, 2024
Tri Pointe Q4 2024 Earnings Report
Tri Pointe Homes reported a slight decline in revenue and net income for Q4 2024, but maintained a strong homebuilding gross margin.
Key Takeaways
Tri Pointe Homes reported Q4 2024 revenue of $1.22 billion, a 2% YoY decline. Net income decreased by 3% to $129.2 million, while diluted EPS remained steady at $1.37. The company maintained a solid homebuilding gross margin of 23.3% and ended the quarter with $970 million in cash.
Revenue declined by 2% YoY to $1.22 billion due to softer seasonal demand.
Net income fell 3% YoY to $129.2 million.
Homebuilding gross margin improved by 40 basis points to 23.3%.
The company ended Q4 with $970 million in cash and strong liquidity.
Revenue by Segment
Forward Guidance
Tri Pointe Homes expects solid demand in 2025, supported by favorable demographics and a strong lot supply.
Positive Outlook
- Projected Q1 2025 home deliveries between 900 and 1,100 units.
- Average sales price expected between $685,000 and $695,000.
- FY 2025 anticipated deliveries between 5,500 and 6,100 homes.
- Homebuilding gross margin projected at 20.5% to 22.0% for FY 2025.
- Company expects continued strong liquidity and capital allocation.
Challenges Ahead
- High mortgage rates could continue to impact short-term demand.
- Seasonal softness may persist into early 2025.
- Cancellation rate increased YoY from 12% to 14%.
- SG&A expenses increased to 10.3% of revenue in Q4 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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