Tri Pointe Homes Q4 revenue falls 23% on decline in home sales
Overview
U.S. homebuilder's Q4 home sales revenue fell 23% yr/yr
Adjusted EPS for Q4 beat analyst expectations
Company to be acquired by Sumitomo Forestry, pending approvals
Outlook
Company did not provide specific guidance for future quarters or years
Result Drivers
DECLINE IN HOME SALES - Home sales revenue fell 23% due to a decrease in new home deliveries and a slight drop in average sales price
GROSS MARGIN PRESSURE - Homebuilding gross margin percentage decreased to 19.3% from 23.3%, impacted by inventory-related charges
ADJUSTED EPS BEAT - Despite challenges, adjusted EPS beat analyst expectations, indicating effective cost management
Company press release: ID:nGNX9kncN5
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Home Sales Revenue |
| $945.90 mln |
|
Q4 Adjusted EPS | Beat | $0.80 | $0.78 (5 Analysts) |
Q4 EPS |
| $0.70 |
|
Q4 Net Income |
| $60.20 mln |
|
Q4 Homebuilding Gross Margin |
| 19.30% |
|
Q4 Homebuilding Adj. Gross Margin |
| 20.60% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "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) is $36.00, about 22.4% below its February 24 closing price of $46.37
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 13 three months ago
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