Reports Q4 revenue $1.24B, consensus $1.19B. “2023 proved to be another strong year for Tri Pointe Homes, capped off by a successful Q4, during which we reported home sales revenue of $1.2B, homebuilding gross margin percentage of 22.9%, and diluted earnings per share of $1.36,” said Doug Bauer, CEO. “The strong finish to the year was accompanied by a 143% increase in net new home orders for the quarter, which led to a 40% increase for the full year. We ended the year with 155 active selling communities, which was a 14% increase over the prior year. Based on our strong land pipeline with approximately 32,000 owned or controlled lots, we expect to grow our community count by another 10% by the end of 2025. In Q4 of 2023, our industry saw a notable change in mortgage interest rates, peaking above 8% in October, then rapidly decreasing with shifting market sentiment. Order activity subsequently increased as we moved through the quarter and that momentum has continued into 2024, with both January and February off to a strong start.”
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