Tri Pointe Homes Q2 EPS $1.33 up 33% YoY; homebuilding gross margin record 27.2%

Tri Pointe Homes, Inc.

2022-Q2 EPS reported $2.12 revenue$1,753,933,000

Net income $136.4M, diluted EPS $1.33 vs $1.00; home sales revenue $1.0B flat YoY.
Homebuilding gross margin 27.2% (record), up 260 bps; adjusted homebuilding gross margin 29.8%.
Net new home orders 1,356 (-16% YoY); monthly absorption 3.7 vs 4.7; cancellation rate 16% vs 7%.
Backlog dollar value $3.0B (+18% YoY); average price in backlog $779K (+20%).
Repurchased 3.15M shares for $62.8M in Q2; liquidity $937.7M; credit facility increased to $750M.

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