Tri Pointe Homes, Inc. · NYSE:TPH
Tri Pointe Homes — Q2 2025 Earnings Presentation
26 slides from Tri Pointe Homes's earnings presentation, Jul 24, 2025
Slide 1: 2025 Second Quarter Results
2025 Second Quarter Results July 24, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements Various statements contained in this presentation, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may include, but are not limite
Slide 3: Management Team
Management Team Thomas Mitchell Douglas Bauer Glenn Keeler President & COO Chief Executive Officer Chief Financial Officer • Over 30 years of real estate • Over 30 years of real estate and • Over 10 years of real estate and homebuilding experience homebuilding experience and homebuilding experience
Slide 4: A diversified portfolio of markets
A diversified portfolio of markets West Segment Markets: San Francisco Bay Area, Inland Empire, Orange County-Los Angeles, Sacramento, San Diego, Phoenix, Las Vegas, Seattle Metro Area LTM Orders: 2,324 LTM Deliveries: 3,051 LTM HS Revenue: $2,290,140 LTM ASP: $751 Lots Owned or Controlled: 13,150 E
Slide 5: 2025 Second Quarter Highlights
2025 Second Quarter Highlights 5
Slide 6: 2025 Second Quarter Highlights
2025 Second Quarter Highlights • Net new home orders of 1,131 on an absorption rate of 2.5 net new home orders per community per month Metric 2Q25 2Q24 % Change • New home deliveries of 1,326 with an average sales price of $664,000 • Ending active selling communities of 151 Orders 1,131 1,651 -32% •
Slide 7: Second Quarter Results
Second Quarter Results 7
Slide 8: Active Selling Communities and Absorption Rate
Active Selling Communities and Absorption Rate Q2 2025 Results Active Selling Communities and Absorption Rate Active Selling Communities by Geography As of and for the quarters ended June 30, 2024 and 2025 As of June 30, 2025 175 4.0 Washington 3.6 D.C. Area(2) 153 151 150 3.5 4% Washington 3.0 4% C
Slide 9: Net New Home Orders – Q2 2025 Results
Net New Home Orders – Q2 2025 Results Net New Home Orders Net New Home Orders by Geography For the quarters ended June 30, 2024 and 2025 For the quarter ended June 30, 2025 1,800 1,651 Washington D.C. 1,600 Area(2) Washington 7% 1,400 5% Carolinas(1) 10% 1,200 1,131 California 1,000 27% Colorado 3%
Slide 10: Backlog – Units and Dollar Value – Q2 2025 Results
Backlog – Units and Dollar Value – Q2 2025 Results Backlog – Units and Dollar Value Backlog Dollar Value by Geography As of June 30, 2024 and 2025 (dollars in thousands) As of June 30, 2025 3,000 2024 2025 $2,500,000 2,692 Washington $1,999,852 Washington D.C. Area(2) 2,500 11% $2,000,000 7% 2,000 C
Slide 11: New Home Deliveries – Q2 2025 Results
New Home Deliveries – Q2 2025 Results New Home Deliveries New Home Deliveries by Geography For the quarters ended June 30, 2024 and 2025 For the quarter ended June 30, 2025 Washington 1,800 1,700 Washington D.C. Area(2) 1,600 5% 6% Carolinas(1) 1,400 9% 1,326 California 1,200 26% Colorado 1,000 4% D
Slide 12: Home Sales Revenue – Q2 2025 Results
Home Sales Revenue – Q2 2025 Results Home Sales Revenue Home Sales Revenue by Geography For the quarters ended June 30, 2024 and 2025 (dollars in thousands) For the quarter ended June 30, 2025 $1,200,000 $1,133,008 Washington D.C. Area(2) $1,000,000 Washington 10% $879,832 7% Carolinas(1) $800,000 D
Slide 13: SG&A Expenses, Income Before Taxes, Net Income and EPS (Diluted)
SG&A Expenses, Income Before Taxes, Net Income and EPS (Diluted) – Q2 2025 Results Selling, General and Administrative Expenses Income Before Taxes, Net Income Available to For the quarters ended June 30, 2024 and 2025 (dollars in thousands) Common Stockholders and EPS (Diluted) For the quarters end
Slide 14: Land Supply, Orders by Month, Return on Equity and Risk Profile
Land Supply Orders by Month Return on Equity and Risk Profile Book Value Per Share Debt 14
Slide 15: Significant Land Supply to Fuel Growth
Significant Land Supply to Fuel Growth Combined Lot Position As of June 30, 2025 Note: Dollars in thousands Implied Years of Geography Owned Controlled(3) Total Lots % Owned Inventory Dollars LTM Deliveries Supply(4) Arizona 531 1,279 1,810 29% $227,532 530 3.4 California 7,504 2,148 9,652 78% $1,30
Slide 16: Net New Home Orders – Historical by Quarter
Net New Home Orders – Historical by Quarter Full-Year Absorption Rate: 2025 – 2.7 per month (YTD) 2024 – 3.1 per month 2023 – 3.5 per month 2022 – 2.9 per month 2021 – 4.8 per month 2,500 2,000 1,987 1,912 2021 1,896 1,814 2022 1,651 1,619 1,622 1,513 1,424 2023 1,500 1,356 1,349 1,238 1,252 2024 1,
Slide 17: Return on Equity and Risk Profile
Return on Equity and Risk Profile Increased focus on generating strong return on equity (ROE) growth through a combination of improved asset efficiency and greater operating margins with a continued focus on maintaining an efficient capital structure. Measured approach to share repurchase activity w
Slide 18: Book Value Per Share
Book Value Per Share Dual impact of the reduction in shares of common stock outstanding through opportunistic share repurchases and strong earnings have contributed to accelerated growth in book value per share and tangible book value per share at a compounded annual growth rate of 15%, respectively
Slide 19: Selected Balance Sheet Metrics
Selected Balance Sheet Metrics $ in thousands 6/30/2025 12/31/2024 Cash and cash equivalents $ 622,642 $ 970,045 ▪ Ended second quarter with total liquidity Real estate inventories $ 3,301,302 $ 3,153,459 of $1.4 billion, including cash and cash Total homebuilding debt $ 909,974 $ 917,504 equivalent
Slide 20: 2025 Third Quarter & Full Year Outlook
2025 Third Quarter & Full Year Outlook
Slide 21: 2025 Third Quarter Outlook
2025 Third Quarter Outlook • Anticipate delivering between 1,000 and 1,100 homes at an average sales price between $675,000 and $685,000 for the third quarter • Anticipate homebuilding gross margin percentage for the third quarter will be in the range of 20.0% to 21.0% • Anticipate SG&A expense rati
Slide 22: 2025 Full Year Outlook
2025 Full Year Outlook • Anticipate delivering between 4,800 and 5,200 homes at an average sales price between $665,000 and $675,000 for the full year • Anticipate adjusted homebuilding gross margin percentage for the full year will be in the range of 20.5% to 22.0% (excluding an $11.0 million inven
Slide 23: Supplemental Data and Reconciliation
Supplemental Data and Reconciliation 23
Slide 24: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures (unaudited) In this presentation, we utilize certain financial measures that are non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they and similar measures are useful to manage
Slide 25: Reconciliation of Non-GAAP Financial Measures (cont'd)
Reconciliation of Non-GAAP Financial Measures (cont’d) (unaudited) The following table reconciles the Company’s ratio of homebuilding debt-to-capital to the non-GAAP ratio of net homebuilding debt-to-net capital. We believe that the ratio of net homebuilding debt-to-net capital is a relevant financi
Slide 26: Reconciliation of Non-GAAP Financial Measures (cont'd)
Reconciliation of Non-GAAP Financial Measures (cont’d) (unaudited) The following table contains information about our operating results reflecting certain adjustments to homebuilding gross margin, income before income taxes, provision for income taxes, net income, net income available to common stoc