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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) announced that its D.C. Metro Division received the Community Builder Award from the Home Builders Care Foundation of Maryland on January 20, 2022. The award recognized the company for its efforts in a kitchen renovation project at Cordell Place Apartments, a supportive housing program. Tri Pointe and its partners contributed to nearly 97% of project costs through in-kind donations. The initiative helps support individuals experiencing chronic homelessness, showcasing Tri Pointe's commitment to community service.
Tri Pointe Homes (NYSE: TPH) will announce its fourth quarter 2021 financial results on February 17, 2022, before market opening. A conference call will follow at 7:00 AM Pacific (10:00 AM Eastern), featuring CEO Doug Bauer, COO Tom Mitchell, and CFO Glenn Keeler. Participants can join via toll-free numbers or listen online through the company's website. A replay will be accessible for a week. Tri Pointe, a prominent U.S. homebuilder, is recognized for customer experience and innovative design, operating across 10 states.
Tri Pointe Homes (NYSE: TPH) has launched Altis, a lifestyle brand targeting the 55+ demographic with modern, environmentally friendly designs. With three communities already in California, Altis aims to deliver a premium lifestyle that resonates with the active adult market. The brand emphasizes community connection and tailored amenities. Altis at Skyline, the latest addition, features 292 single-story homes starting from the low $700,000s. This initiative positions Tri Pointe to capitalize on the growing active adult market, which is expected to expand as baby boomers increasingly relocate.
Tri Pointe Homes reported strong Q3 2021 results, achieving a diluted EPS of $1.17 and a net income of $133.2 million, up 69% year-over-year. Home sales revenue rose 25% to $1 billion, with deliveries increasing to 1,632 homes. The homebuilding gross margin reached a record 26.3%, a 420 basis point increase. Backlog units rose 14% to 3,619, with a dollar value of $2.4 billion, up 17%. The company plans to open over 100 new communities and anticipates delivering 6,000 to 6,300 homes by year-end. A solid balance sheet and optimistic demand outlook position TPH for future growth.
Tri Pointe Homes (NYSE: TPH) will announce its third-quarter 2021 financial results before market opens on October 21, 2021. A conference call will occur at 7:00 AM Pacific (10:00 AM Eastern) led by CEO Doug Bauer and other executives to discuss the results. Participants can join via toll-free numbers or listen online on the company's website. A replay will be accessible for one week post-call. Tri Pointe is among the leading U.S. homebuilders, recognized for its customer experience and innovative design, operating across 10 states.
Tri Pointe Homes has announced the appointment of R. Kent Grahl to its Board of Directors, effective September 27, 2021, following the retirement of Dan Fulton at the end of the year. Grahl brings over 30 years of experience in homebuilding and institutional capital management, previously leading over $3.4 billion in equity investments. His appointment is expected to enhance the board's expertise and diversity, as stated by Chairman Steven Gilbert. Fulton has served since the 2014 merger, providing invaluable insights during Tri Pointe's growth.
Tri Pointe Homes reported strong Q2 2021 results with net new home orders increasing by 22% year-over-year and backlog units up 53%. The company achieved a homebuilding gross margin of 24.6% and diluted EPS of $1.00, a 133% increase from Q2 2020. The Board approved an additional $250 million for share repurchases, raising the total to $500 million through December 2022. Tri Pointe expects continued growth, with forecasts of 1,450-1,550 home deliveries in Q3 2021.
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