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Tri Pointe Homes, Inc. (NYSE: TPH) is a premier American homebuilder recognized for its innovative design, environmentally responsible business practices, and outstanding customer experience. As one of the largest builders in the U.S., Tri Pointe Homes operates in 12 states and the District of Columbia, designing and constructing single-family homes and condominiums that align with modern lifestyle needs.
Established brands under its umbrella include Maracay Homes, Pardee Homes, Quadrant Homes, Trendmaker Homes, TRI Pointe Homes, and Winchester Homes. These brands contribute to the company's robust portfolio, strategically catering to key regional markets across states such as California, Arizona, Nevada, Texas, Oregon, and Virginia.
With a significant presence in California, which remains its largest revenue source, Tri Pointe Homes completes approximately 4,000 homes annually, with an average selling price of around $500,000. The company is also actively engaged in the development and sale of land, further amplifying its market footprint.
Recent achievements include being named one of the 2023 Fortune 100 Best Companies to Work For®, a designation as a Great Place to Work-Certified™ company for three consecutive years, and multiple Builder of the Year awards. These accolades underscore Tri Pointe's commitment to excellence and employee satisfaction.
Financially, Tri Pointe Homes reported strong third-quarter results in 2023, with home sales revenue of $825 million and a net income of $75.4 million. Despite elevated mortgage rates, the company demonstrated resilience with strategic expansions, including its recent entry into Salt Lake City, Utah. This move highlights Tri Pointe Homes' focus on market diversification and organic growth.
The company's forward-looking strategies include increasing operational efficiency and maintaining a robust balance sheet, enabling them to navigate market dynamics effectively. Tri Pointe's technological innovations, such as the Homebuyer App, enhance the customer experience by providing continuous updates and engagement throughout the home construction process.
For the fourth quarter, Tri Pointe Homes anticipates delivering between 1,600 and 1,800 homes at an average sales price of $670,000 to $680,000, maintaining a homebuilding gross margin of 22.0% to 23.0%. This strategic outlook demonstrates their commitment to steady growth and market adaptation.
Tri Pointe Homes (NYSE: TPH) announces Twinleaf Townes, a new 102-townhome community in Chapel Hill's Durham County section. The development features interior designs by celebrity designer Bobby Berk, offering six unique floorplans ranging from 2,098 to 2,317 square feet, with prices starting in the $400Ks.
Homebuyers can choose from 10 exclusive 'BB Edit' design collections. The townhomes will offer 3-4 bedrooms, 2-3 bathrooms, and 2-bay garages. Three model homes, personally curated by Berk, will open in March 2025. The community is strategically located near Research Triangle Park, major universities, and the Raleigh-Durham International Airport.
Tri Pointe Homes (NYSE:TPH) has announced a new $250 million stock repurchase program effective through December 31, 2025. Under the previous 2024 program, the company has already repurchased 1.2 million shares at $41.57 per share in Q4 2024 (through December 17), totaling $50 million. For the full year through December 17, 2024, TPH repurchased nearly 4 million shares at $36.97 per share, amounting to $146.6 million.
The new program allows for purchases through open market transactions, block trades, or other means in accordance with federal securities laws. The company maintains flexibility in the program's execution, with no obligation to repurchase any specific amount and the ability to modify or suspend the program based on various factors including market conditions and corporate requirements.
Tri Pointe Homes (NYSE: TPH) has been named to the 2024 Fortune Best Workplaces for Parents™ list, following recent recognitions including 2024 People® Companies That Care®, Best Workplaces in Construction™, and Best Workplaces for Women™. The company offers comprehensive family-focused benefits including up to 12 weeks of paid leave for new mothers, a Family Forming and Hormonal Health program, and flexible scheduling.
The recognition is based on survey responses from over 635,000 employees with parenting responsibilities. Notably, 89% of Tri Pointe employees agreed they are encouraged to balance work and personal lives, while 85% acknowledged the company's special and unique benefits. The company covers 80% of medical insurance premiums and provides three weeks vacation upon hire.
Tri Pointe Homes (NYSE: TPH) has acquired 178 single-family detached homesites in Minneola's Sugarloaf Mountain planned community, marking its entry into the Greater Orlando market. The new community, Pine Ridge at Sugarloaf Mountain, will feature 15.87 acres of open space with amenities including a neighborhood park, amenity center, and ponds. The development will offer three homesite sizes (45-, 55-, and 65-feet) targeting premium entry level and move-up homebuyers. Construction is expected to begin in mid-2025, with model homes slated for mid-2026 and a grand opening in September 2026. The expansion aligns with Minneola's significant population growth of 30% between 2020 and 2023.
Tri Pointe Homes (NYSE: TPH) has been named to the 2024 Fortune Best Workplaces for Women™ list for the third consecutive year. This recognition follows their inclusion on the 2024 PEOPLE® Companies That Care® and Fortune Best Workplaces in Construction™ lists. The company demonstrates strong commitment to workplace diversity, with 42% of management positions held by women as of December 2023. Since 2021, Tri Pointe has internally promoted 296 team members, with 62 women advancing to director-level positions or above. The company excels in recruiting and retaining women in traditionally male-dominated areas like construction and customer care, offering mentorship programs and professional development opportunities.
Tri Pointe Homes reported strong Q3 2024 results with home sales revenue increasing 35% to $1.1 billion and new home deliveries rising 32% to 1,619 units. The company achieved a homebuilding gross margin of 23.3%, up 100 basis points year-over-year, and diluted earnings per share of $1.18, representing a 55% increase. The average sales price increased 2% to $688,000, while SG&A expense decreased to 10.8% of home sales revenue. The company maintained a strong financial position with a record low homebuilding debt-to-capital ratio of 22.1% and total liquidity of $1.4 billion.
Tri Pointe Homes is now selling The Mews at Holding Village, the final new construction phase in Wake Forest's popular Holding Village neighborhood. Priced from the mid $300s, these two- and three-story townhomes offer low-maintenance living with 1,724-2,328 square feet of flexible space. Buyers can choose from five floorplans with 3-4 bedrooms, 2.5-3.5 baths, and a two-bay garage.
The community features 35 acres of open green space, including parks, a pool, a 15-acre lake, greenway trails, and playgrounds. Located in Wake Forest, residents have access to highly regarded schools, shopping centers, dining options, and outdoor recreation. Tri Pointe Homes will host a model opening event on November 16, 2024, showcasing the Wilson model for interested buyers.
Tri Pointe Homes (NYSE: TPH) received 13 awards at the Great American Living Awards 2024, including the grand awards for 'Home of the Year' and 'Salesperson of the Year'. The company's D.C. Metro division was recognized across categories of design & architecture, interior merchandising, and sales & marketing.
Notable wins include:
- The Flynn model at Del Ray Corner named 'Home of the Year'
- Best Interior Merchandising for various models
- Best Design and Architecture for multiple attached and detached homes
- Outstanding Sales Person and Design Center Manager awards
- The Jim Vance Public Relations Campaign Award for 'Bobby Berk Partnership'
Brad Blank, president of Tri Pointe Homes D.C. Metro Division, expressed pride in the team's dedication and commitment to exceptional homebuilding in the DMV area.
Tri Pointe Homes, Inc. (NYSE: TPH) has announced the date for its third quarter 2024 earnings release and conference call. The company will release its financial results on Thursday, October 24, 2024, before the market opens. A conference call to discuss the results will be held on the same day at 7:00 AM Pacific (10:00 AM Eastern).
The call will be hosted by key executives including Doug Bauer (CEO), Tom Mitchell (COO), Glenn Keeler (CFO), and Linda Mamet (EVP and CMO). Interested parties can participate by dialing toll-free at (877) 407-3982 or (201) 493-6780 for international participants. The call can also be accessed live on the company's website, along with related slides. A replay will be available for one week following the call.
Tri Pointe Homes (NYSE: TPH), a leading U.S. homebuilder, has released its 2023 sustainability report, highlighting the company's commitment to environmentally responsible practices and positive societal impact. Key aspects of the report include:
- Improved data collection for carbon emissions calculations
- Investments in the LivingSmart® program for healthy business practices
- Focus on building connected communities
- Cultivating a passionate workplace culture with initiatives promoting inclusion and employee development
- Emphasis on health and safety practices
The report utilizes the SASB Standards framework and aligns with several UN Sustainable Development Goals. Tri Pointe Homes has received multiple recognitions, including being named one of the 2023 Fortune 100 Best Companies to Work For® and inclusion in the 2024 Fortune World's Most Admired Companies™ list.
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