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Tri Pointe Homes (TPH) investor relations material
Tri Pointe Homes Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary23 Oct, 2025
Executive summary
Delivered 1,217 homes in Q3 2025, generating $817.3 million in home sales revenue with an average sales price of $672,000, despite continued softness in housing demand.
Net income available to common stockholders was $56.1 million ($0.64 per diluted share), down nearly 50% year-over-year; adjusted net income was $62 million ($0.71 per diluted share), excluding $8.3 million in inventory-related charges.
Repurchased 1.5 million shares for $51 million in Q3, totaling $226 million year-to-date and reducing share count by 7% YTD.
Increased term loan by $200 million, ending the quarter with $1.6 billion in liquidity and a debt-to-capital ratio of 25.1%.
Market conditions remained soft, with significant year-over-year declines in orders, deliveries, revenue, and backlog, but underlying demand from needs-based buyers persists.
Financial highlights
Home sales revenue reached $817.3 million in Q3 2025, down 26.6% year-over-year; new home deliveries fell 24.8% to 1,217 units.
Adjusted homebuilding gross margin was 21.6% (excluding inventory charges); SG&A expenses were 12.9% of home sales revenue.
Net income for the quarter was $56.1 million or $0.64 per diluted share; adjusted EPS was $0.71.
Net new home orders were 995, with an absorption pace of 2.2 homes per community per month; backlog units were 1,298 valued at $1.0 billion.
Ended the quarter with $792 million in cash and $791 million available under the credit facility.
Outlook and guidance
Q4 2025 deliveries expected between 1,200 and 1,400 homes at an average sales price of $690,000–$700,000; gross margin 19.5%–20.5%; SG&A ratio 10.5%–11.5%; effective tax rate ~27%.
Full-year 2025 deliveries projected at 4,800–5,000 homes, average sales price ~$680,000, gross margin ~21.8%, SG&A ~12.5%, effective tax rate ~27%.
Community count expected to grow 10%–15% by end of 2026, driven by expansion in central and east regions.
Management expects continued moderation in housing activity due to affordability pressures and elevated inventory, but remains optimistic about long-term demand fundamentals.
The company continues to invest in scaling existing and new markets, supported by a strong balance sheet.
How will 2026 community growth be achieved?
Purpose of increased term loan vs. share repurchases?
Impact of Utah, FL, Carolinas market expansion?
How will 2026 community growth affect ASP?
How will spec inventory bridge 2026 delivery gap?
Why do buyers prefer design over rate buydowns?
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Next Tri Pointe Homes earnings date
Q4 202517 Feb, 2026
Next Tri Pointe Homes earnings date
Q4 202517 Feb, 2026
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Frequently asked questions
Tri Pointe Homes, Inc. engages in the design, construction, and sale of single-family attached and detached homes in the United States. It operates through Homebuilding Southern California, Homebuilding Northern California, Homebuilding Colorado, Homebuilding Carolinas, and Corporate and Other segments. The company offers its products under the Tri Pointe Homes brand name; and Paige Cole Active Adult brand name for customers age 55 years and older. It sells its homes through its sales representatives.
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