Tri Pointe Homes: Initiation Of Coverage – These Are The 3 Biggest Challenges In Its Path! 

This is our first report on Tri Pointe Homes. The company delivered robust performance in 2023, concluding with a strong fourth quarter where they surpassed the high end of their key operating metrics. The company delivered 1,813 homes, achieving home sales revenue of $1.2 billion and diluted earnings per share of $1.36. The gross margin for the quarter was 22.9%, and the SG&A expense was 9.3% of homebuilding revenue. The company also repurchased approximately 1.8 million shares of common stock during the quarter at an average price of $27.23, which signals their confidence in the company’s prospects.