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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) 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.
Tri Pointe Homes (NYSE: TPH) is launching Alterra, a new 62-home community in Newcastle, Washington. The development features five- to six-bedroom homes starting from the $2 millions. Two model homes, designed by Emmy award-winning TV host Bobby Berk, will be open for tours from September 21.
Alterra offers homes up to 4,200 square feet with access to the Newcastle Trail System and proximity to tech hubs in Bellevue, Redmond, and Kirkland. The community is part of a larger collaboration between Tri Pointe Homes and Bobby Berk, offering homebuyers curated design collections and style options.
With an interest list of nearly 600 potential residents, Alterra is positioned as a highly desirable development in the Puget Sound area, combining luxury living with natural surroundings and convenient amenities.
Tri Pointe Homes (NYSE: TPH) has been recognized on two prestigious lists in 2024: the PEOPLE® Companies That Care® list and the Fortune Best Workplaces in Construction™ list. These accolades highlight the company's commitment to employee well-being and innovative workplace practices.
Key points:
- Tri Pointe has won the PEOPLE award for two consecutive years
- The company has been on the Fortune list for three consecutive years
- Tri Pointe's Compass Clubs and C.A.R.E.S. program foster community engagement
- The company's LivingSmart® program demonstrates commitment to sustainability
- Tri Pointe's 'Best of Big and Small' philosophy balances national resources with local expertise
These awards reflect Tri Pointe's dedication to creating a positive work environment and its focus on employee satisfaction across all demographics.
Tri Pointe Homes (NYSE: TPH) announces the opening of two new Triangle-based neighborhoods: Tredenham in Durham and Elm Park in Raleigh. These communities will be featured in the upcoming Triangle Parade of Homes tour from Sept. 28 to Oct. 13.
Tredenham offers two-story townhomes from the low $400Ks, with 1,650-1,916 square feet, three bedrooms, and two-and-a-half baths. Elm Park features larger homes from the $500Ks, ranging from 2,252-2,398 square feet with three to four bedrooms.
Both communities boast prime locations, modern designs, and proximity to key amenities. Tri Pointe Homes is currently offering a 'Warm Days, Warmer Welcome Savings Event' with closing cost credits and special interest rates for interested buyers.
Tri Pointe Homes (NYSE:TPH) has announced the development of Altis at Serenity, its first 55+ lifestyle brand community on the East Coast. Located in Northwest Harnett County, North Carolina, the community is expected to add 425 homes to the Serenity development, with a projected opening in spring 2025.
Altis at Serenity will offer three distinct series of homes, ranging from 1,200 to 2,527 square feet, tailored for active adult residents. The community will feature premium amenities, including fitness centers, resort-style pools, and clubhouses, designed to foster social connections and active lifestyles.
This expansion marks Tri Pointe's fourth Altis community and demonstrates the company's commitment to building connected communities with a focus on social responsibility through their LivingSmart® packages. The development is strategically located near shopping, dining, and cultural attractions in the greater Triangle area, as well as top healthcare institutions.
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