Tri Pointe Homes Q2 2024 EPS $1.25, revenue $1.1B (+38% YoY)

Tri Pointe Homes, Inc.

2024-Q2 EPS reported $2.28 revenue$2,094,326,000

Net income $118M ($1.25 diluted EPS) vs $60.7M ($0.60) a year ago, up 94% and 108%.
Home sales revenue $1.1B (+38%) on 1,700 deliveries (+45%); avg price $666K (-5%).
Homebuilding gross margin 23.6% (+320 bps YoY); adjusted gross margin 27.1%.
Redeemed $450M of 5.875% senior notes; debt-to-capital ratio 22.9% (record low).
Backlog value $2.0B (+4%); net new home orders 1,651 (-14%); cancellation rate 9%.

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