Overview

* Tri Pointe Q3 home sales revenue falls 26.6% yr/yr to $817.3 mln

* Net income for Q3 drops 49.8% to $56.1 mln

* Company repurchased $51 mln of common stock

Outlook

* Tri Pointe Homes ( TPH ) expects Q4 home deliveries between 1,200 and 1,400 units

* Company anticipates Q4 average sales price between $690,000 and $700,000

* Tri Pointe sees full-year home deliveries between 4,800 and 5,000 units

Result Drivers

* SALES, PRICE DROP - New home deliveries fell to 1,217 from 1,619 homes and the average sales price was $672,000 compared to $688,000

* COST CONTROL - Tri Pointe maintained focus on cost control and strategic capital deployment amid soft housing demand

* GEOGRAPHIC EXPANSION - Co expanded presence in Utah, Florida, and Coastal Carolinas, targeting high potential markets

* STRONG LIQUIDITY - Co ended Q3 with $1.6 bln in liquidity, providing flexibility for growth investments and share repurchases

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Home $817.30

Sales mln

Revenue

Q3 EPS $0.64

Q3 Net $56.10

Income mln

Q3 21.60%

Homebuil

ding

Adj.

Gross

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the homebuilding peer group is "buy"

* Wall Street's median 12-month price target for Tri Pointe Homes Inc (Delaware) ( TPH ) is $38.00, about 13.1% above its October 21 closing price of $33.01

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)