Tri Pointe Homes Q2 EPS $1.00 (+133% YoY); buyback raised by $250M to $500M

Tri Pointe Homes, Inc.

2021-Q2 EPS reported $1.59 revenue$1,739,030,000

Net income $117.9M ($1.00 diluted EPS) vs $56.5M ($0.43) YoY; home sales revenue $1.0B (+32%).
Homebuilding gross margin 24.6% (up 300 bps); net new home orders +22% to 1,622; backlog units +53% to 3,902.
Board authorized additional $250M stock repurchase, increasing total authorization to $500M, extended through Dec 31, 2022.
Repurchased 3,666,676 shares at avg $22.60 in Q2; revolving credit facility increased to $650M, maturity extended to June 2026.
Total liquidity $1.2B including $556.5M cash; active communities averaged 114.5 (-21%), but sales per community up 53% to 14.2.

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