Tri Pointe Homes Q3 earnings top estimates, stock dips

NEW YORK - Tri Pointe Homes Inc (NYSE:TPH ) reported third quarter earnings that beat analyst expectations on Thursday, though shares slipped 1.2% in early trading.

The homebuilder posted adjusted earnings per share of $1.18, surpassing the consensus estimate of $1.07. Revenue rose 35% YoY to $1.13 billion, also topping forecasts of $1.05 billion.

New home deliveries increased 32% to 1,619 homes in Q3, while the average sales price rose 2% to $688,000. Homebuilding gross margin expanded 100 basis points to 23.3%.

"Tri Pointe Homes once again delivered excellent financial results for the third quarter," said CEO Doug Bauer. He noted improvements in both volume and pricing were "well-balanced across our markets."

The company ended the quarter with a backlog of 2,325 homes valued at $1.73 billion, down from 3,055 homes worth $2.12 billion a year ago.

For Q4, Tri Pointe expects to deliver between 1,600 and 1,800 homes at an average sales price of $700,000 to $710,000. It anticipates full-year deliveries of 6,300 to 6,500 homes at an average price of about $680,000.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com