TRI Pointe reports Q2 EPS $1.25, consensus $1.09

Reports Q2 revenue $1.1B, consensus $1.07B. “I am pleased to report another quarter of outstanding results, driven by our focus on expanding scale and efficiencies within our existing markets while building a foundation for future growth in our new markets,” said CEO Doug Bauer. “We delivered 1,700 homes, resulting in home sales revenue of $1.1B, a 38% increase compared to the previous year. This strong revenue growth, fueled by the 45% increase in deliveries, resulted in net income of $118M and diluted EPS of $1.25, increases of 94% and 108%, respectively, compared to the previous year…Additionally, during the quarter, we redeemed $450M of senior notes using cash on hand, which allowed us to reduce balance sheet debt and lower our homebuilding debt-to-capital ratio to a record low 22.9%, while maintaining strong liquidity of $1.2B, underscoring our commitment to fortifying our balance sheet…With ongoing demographic support and a persistent undersupply of homes, including the resale market, we believe we are in a strong position to utilize our capital to create significant value for our stakeholders.”