Tri Pointe Homes Q2 2024 10-Q Filed

Ticker: TPH · Form: 10-Q · Filed: 2024-07-25T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, real-estate, homebuilding, financials

TL;DR

**Tri Pointe Homes Q2 2024 10-Q is IN. Check financials.**

AI Summary

Tri Pointe Homes, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and operational updates for the second quarter of 2024. Key financial metrics and business segment information are presented, reflecting the company's activities in the homebuilding sector.

Why It Matters

This filing provides investors and analysts with the latest financial data for Tri Pointe Homes, crucial for understanding the company's current health and future prospects in the housing market.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the housing market is subject to economic fluctuations, making it a medium-risk sector.

Key Numbers

Key Players & Entities

FAQ

What is the primary business segment reported in this 10-Q?

The primary business segment reported is Homebuilding, as indicated by the use of 'us-gaap:HomeBuildingMember' and 'tph:HomebuildingSegmentMember'.

What is the fiscal year end for Tri Pointe Homes, Inc.?

The fiscal year end for Tri Pointe Homes, Inc. is December 31 (1231).

When was the company formerly known as TRI Pointe Group, Inc.?

The company's name changed from TRI Pointe Group, Inc. on July 7, 2015 (20150707).

What is the SEC file number for Tri Pointe Homes, Inc.?

The SEC file number for Tri Pointe Homes, Inc. is 001-35796.

What is the physical address of Tri Pointe Homes, Inc.?

The business address is 940 Southwood Blvd, Suite 200, Incline Village, NV 89451.

Filing Stats: 4,538 words · 18 min read · ~15 pages · Grade level 17.3 · Accepted 2024-07-25 16:41:31

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Consolidated Balance Sheets as of Ju ne 30 , 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Operations for the Three and Si x Months Ended June 30 , 2024 and 2023 (unaudited) 4 Consolidated Statements of Equity for the Three and Six Months Ended June 30 , 2024 and 2023 (unaudited) 5 Consolidated Statements of Cash Flows for the Si x Months Ended June 30 , 2024 and 2023 (unaudited) 7

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 43

Other Information

Item 5. Other Information 43

Exhibits

Item 6. Exhibits 44

SIGNATURES

SIGNATURES 45 - 2 -

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TRI POINTE HOMES, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) June 30, 2024 December 31, 2023 (unaudited) Assets Cash and cash equivalents $ 492,940 $ 868,953 Receivables 111,637 224,636 Real estate inventories 3,465,811 3,337,483 Investments in unconsolidated entities 133,591 131,824 Mortgage loans held for sale 32,936 — Goodwill and other intangible assets, net 156,603 156,603 Deferred tax assets, net 37,996 37,996 Other assets 164,684 157,093 Total assets $ 4,596,198 $ 4,914,588 Liabilities Accounts payable $ 57,410 $ 64,833 Accrued expenses and other liabilities 437,237 453,531 Loans payable 283,929 288,337 Senior notes, net 646,030 1,094,249 Mortgage repurchase facilities 32,096 — Total liabilities 1,456,702 1,900,950 Commitments and contingencies (Note 13) Equity Stockholders' equity: Preferred stock, $ 0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding as June 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.01 par value, 500,000,000 shares authorized; 93,862,218 and 95,530,512 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 939 955 Additional paid-in capital — — Retained earnings 3,138,545 3,010,003 Total stockholders' equity 3,139,484 3,010,958 Noncontrolling interests 12 2,680 Total equity 3,139,496 3,013,638 Total liabilities and equity $ 4,596,198 $ 4,914,588 See accompanying condensed notes to the unaudited consolidated financial statements. - 3 - TRI POINTE HOMES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Homebuilding: Home sales revenue $ 1,133,008 $ 819,077 $ 2,051,361 $ 1,587,482 Land and lot sales revenue 4,160 7,086 11,228 8,792 Other operations revenue 782 796 1,569 1,470 Total revenues 1,137,950 826,959

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