Tri Pointe Homes Files Q3 2024 10-Q
Ticker: TPH · Form: 10-Q · Filed: 2024-10-24T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, real-estate
TL;DR
TPH Q3 2024 10-Q filed. Financials and ops details out.
AI Summary
Tri Pointe Homes, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operations during the third quarter of 2024. Key financial data and operational metrics are presented for the reporting period and comparative periods.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational details for Tri Pointe Homes, enabling informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing and does not inherently present new risks.
Key Players & Entities
- Tri Pointe Homes, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-10-24 (date) — Filing date
- 940 SOUTHWOOD BLVD, SUITE 200 (address) — Company's business and mailing address
- NV (state) — State of incorporation
- DE (state) — State of incorporation
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 24, 2024.
What is the company's primary business as indicated by the SIC code?
The company's SIC code is 1531, which corresponds to Operative Builders.
What is the company's state of incorporation?
Tri Pointe Homes, Inc. is incorporated in Delaware (DE).
What was the company's former name prior to 2015?
Prior to July 7, 2015, the company's former name was TRI Pointe Group, Inc.
Filing Stats: 4,527 words · 18 min read · ~15 pages · Grade level 17.2 · Accepted 2024-10-24 17:12:03
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share TPH New York Stock Exchange
Filing Documents
- tph-20240930.htm (10-Q) — 1515KB
- tripointeceoaremploymentag.htm (EX-10.1) — 94KB
- tripointepresidentandcooar.htm (EX-10.2) — 94KB
- q32024tphex311.htm (EX-31.1) — 10KB
- q32024tphex312.htm (EX-31.2) — 10KB
- q32024tphex321.htm (EX-32.1) — 5KB
- q32024tphex322.htm (EX-32.2) — 5KB
- tph-20240930_g1.jpg (GRAPHIC) — 22KB
- 0001561680-24-000092.txt ( ) — 8357KB
- tph-20240930.xsd (EX-101.SCH) — 55KB
- tph-20240930_cal.xml (EX-101.CAL) — 78KB
- tph-20240930_def.xml (EX-101.DEF) — 266KB
- tph-20240930_lab.xml (EX-101.LAB) — 668KB
- tph-20240930_pre.xml (EX-101.PRE) — 491KB
- tph-20240930_htm.xml (XML) — 1206KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 3 Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 4 Consolidated Statements of Equity for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 5 Consolidated Statements of Cash Flows for the Nine Months Ended September 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) September 30, 2024 December 31, 2023 (unaudited) Assets Cash and cash equivalents $ 675,957 $ 868,953 Receivables 113,725 224,636 Real estate inventories 3,412,633 3,337,483 Investments in unconsolidated entities 130,798 131,824 Mortgage loans held for sale 80,071 — Goodwill and other intangible assets, net 156,603 156,603 Deferred tax assets, net 37,996 37,996 Other assets 171,472 157,093 Total assets $ 4,779,255 $ 4,914,588 Liabilities Accounts payable $ 75,214 $ 64,833 Accrued expenses and other liabilities 456,418 453,531 Loans payable 275,914 288,337 Senior notes, net 646,280 1,094,249 Mortgage repurchase facilities 75,465 — Total liabilities 1,529,291 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 September 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.01 par value, 500,000,000 shares authorized; 93,590,060 and 95,530,512 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 936 955 Additional paid-in capital — — Retained earnings 3,249,016 3,010,003 Total stockholders' equity 3,249,952 3,010,958 Noncontrolling interests 12 2,680 Total equity 3,249,964 3,013,638 Total liabilities and equity $ 4,779,255 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Homebuilding: Home sales revenue $ 1,113,681 $ 825,295 $ 3,165,042 $ 2,412,777 Land and lot sales revenue 12,552 1,714 23,780 10,506 Other operations revenue 790 749 2,359 2,219 Total