Significant Increase in Deliveries and Revenue
Tri Pointe achieved a 32% increase in deliveries to 1,619 homes and a 35% growth in home sales revenue to $1.1 billion.
Improved Financial Metrics
Home sales gross margin improved to 23.3%, a 100 basis point increase compared to the same period last year. SG&A expenses were reduced by 150 basis points year-over-year.
Strong Earnings Growth
Pretax earnings increased by 52% to $152 million. Diluted earnings per share grew by 55% to $1.18.
Robust Operating Cash Flow
Generated $168 million of operating cash flow in Q3 and $336 million year-to-date.
Successful Expansion and Strategic Initiatives
Expansion into Utah, Orlando, and Coastal Carolinas is progressing well, with significant land control and positive developer responses.