(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Tri Pointe Homes, Inc. | ||||||||
Date: October 27, 2022 | By: | /s/ Glenn J. Keeler | ||||||
Glenn J. Keeler, Chief Financial Officer |
* | See “Reconciliation of Non-GAAP Financial Measures” |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | Change | % Change | 2022 | 2021 | Change | % Change | ||||||||||||||||||||||||||||||||||||||||
Operating Data: | (unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||
Home sales revenue | $ | 1,057,491 | $ | 1,028,950 | $ | 28,541 | 3 | % | $ | 2,787,386 | $ | 2,754,932 | $ | 32,454 | 1 | % | |||||||||||||||||||||||||||||||
Homebuilding gross margin | $ | 286,343 | $ | 270,926 | $ | 15,417 | 6 | % | $ | 754,226 | $ | 690,337 | $ | 63,889 | 9 | % | |||||||||||||||||||||||||||||||
Homebuilding gross margin % | 27.1 | % | 26.3 | % | 0.8 | % | 27.1 | % | 25.1 | % | 2.0 | % | |||||||||||||||||||||||||||||||||||
Adjusted homebuilding gross margin %* | 29.9 | % | 28.8 | % | 1.1 | % | 29.7 | % | 27.9 | % | 1.8 | % | |||||||||||||||||||||||||||||||||||
SG&A expense | $ | 96,736 | $ | 98,365 | $ | (1,629) | (2) | % | $ | 272,783 | $ | 276,926 | $ | (4,143) | (1) | % | |||||||||||||||||||||||||||||||
SG&A expense as a % of home sales revenue | 9.1 | % | 9.6 | % | (0.5) | % | 9.8 | % | 10.1 | % | (0.3) | % | |||||||||||||||||||||||||||||||||||
Net income available to common stockholders | $ | 149,226 | $ | 133,156 | $ | 16,070 | 12 | % | $ | 373,087 | $ | 321,827 | $ | 51,260 | 16 | % | |||||||||||||||||||||||||||||||
Adjusted EBITDA* | $ | 237,369 | $ | 215,880 | $ | 21,489 | 10 | % | $ | 604,365 | $ | 543,945 | $ | 60,420 | 11 | % | |||||||||||||||||||||||||||||||
Interest incurred | $ | 31,893 | $ | 24,280 | $ | 7,613 | 31 | % | $ | 89,235 | $ | 68,017 | $ | 21,218 | 31 | % | |||||||||||||||||||||||||||||||
Interest in cost of home sales | $ | 26,531 | $ | 25,656 | $ | 875 | 3 | % | $ | 68,559 | $ | 77,185 | $ | (8,626) | (11) | % | |||||||||||||||||||||||||||||||
Other Data: | |||||||||||||||||||||||||||||||||||||||||||||||
Net new home orders | 681 | 1,349 | (668) | (50) | % | 3,933 | 4,958 | (1,025) | (21) | % | |||||||||||||||||||||||||||||||||||||
New homes delivered | 1,463 | 1,632 | (169) | (10) | % | 4,047 | 4,303 | (256) | (6) | % | |||||||||||||||||||||||||||||||||||||
Average sales price of homes delivered | $ | 723 | $ | 630 | $ | 93 | 15 | % | $ | 689 | $ | 640 | $ | 49 | 8 | % | |||||||||||||||||||||||||||||||
Cancellation rate | 27 | % | 9 | % | 18 | % | 15 | % | 7 | % | 8 | % | |||||||||||||||||||||||||||||||||||
Average selling communities | 128.3 | 109.0 | 19.3 | 18 | % | 120.7 | 112.1 | 8.6 | 8 | % | |||||||||||||||||||||||||||||||||||||
Selling communities at end of period | 133 | 109 | 24 | 22 | % | ||||||||||||||||||||||||||||||||||||||||||
Backlog (estimated dollar value) | $ | 2,427,301 | $ | 2,428,412 | $ | (1,111) | 0 | % | |||||||||||||||||||||||||||||||||||||||
Backlog (homes) | 3,044 | 3,619 | (575) | (16) | % | ||||||||||||||||||||||||||||||||||||||||||
Average sales price in backlog | $ | 797 | $ | 671 | $ | 126 | 19 | % | |||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | Change | % Change | ||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Data: | (unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 228,137 | $ | 681,528 | $ | (453,391) | (67) | % | |||||||||||||||||||||||||||||||||||||||
Real estate inventories | $ | 3,608,305 | $ | 3,054,743 | $ | 553,562 | 18 | % | |||||||||||||||||||||||||||||||||||||||
Lots owned or controlled | 37,269 | 41,675 | (4,406) | (11) | % | ||||||||||||||||||||||||||||||||||||||||||
Homes under construction (1) | 4,120 | 3,632 | 488 | 13 | % | ||||||||||||||||||||||||||||||||||||||||||
Homes completed, unsold | 102 | 27 | 75 | 278 | % | ||||||||||||||||||||||||||||||||||||||||||
Debt | $ | 1,339,752 | $ | 1,337,723 | $ | 2,029 | 0 | % | |||||||||||||||||||||||||||||||||||||||
Stockholders’ equity | $ | 2,625,730 | $ | 2,447,621 | $ | 178,109 | 7 | % | |||||||||||||||||||||||||||||||||||||||
Book capitalization | $ | 3,965,482 | $ | 3,785,344 | $ | 180,138 | 5 | % | |||||||||||||||||||||||||||||||||||||||
Ratio of debt-to-capital | 33.8 | % | 35.3 | % | (1.5) | % | |||||||||||||||||||||||||||||||||||||||||
Ratio of net debt-to-net capital* | 29.7 | % | 21.1 | % | 8.6 | % |
September 30, | December 31, | ||||||||||
2022 | 2021 | ||||||||||
Assets | (unaudited) | ||||||||||
Cash and cash equivalents | $ | 228,137 | $ | 681,528 | |||||||
Receivables | 169,496 | 116,996 | |||||||||
Real estate inventories | 3,608,305 | 3,054,743 | |||||||||
Investments in unconsolidated entities | 132,998 | 118,095 | |||||||||
Goodwill and other intangible assets, net | 156,603 | 156,603 | |||||||||
Deferred tax assets, net | 57,095 | 57,096 | |||||||||
Other assets | 173,404 | 151,162 | |||||||||
Total assets | $ | 4,526,038 | $ | 4,336,223 | |||||||
Liabilities | |||||||||||
Accounts payable | $ | 64,109 | $ | 84,854 | |||||||
Accrued expenses and other liabilities | 494,727 | 466,013 | |||||||||
Loans payable | 250,000 | 250,504 | |||||||||
Senior notes | 1,089,752 | 1,087,219 | |||||||||
Total liabilities | 1,898,588 | 1,888,590 | |||||||||
Commitments and contingencies | |||||||||||
Equity | |||||||||||
Stockholders’ equity: | |||||||||||
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively | — | — | |||||||||
Common stock, $0.01 par value, 500,000,000 shares authorized; 100,913,958 and 109,644,474 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively | 1,009 | 1,096 | |||||||||
Additional paid-in capital | — | 91,077 | |||||||||
Retained earnings | 2,624,721 | 2,355,448 | |||||||||
Total stockholders’ equity | 2,625,730 | 2,447,621 | |||||||||
Noncontrolling interests | 1,720 | 12 | |||||||||
Total equity | 2,627,450 | 2,447,633 | |||||||||
Total liabilities and equity | $ | 4,526,038 | $ | 4,336,223 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Homebuilding: | |||||||||||||||||||||||
Home sales revenue | $ | 1,057,491 | $ | 1,028,950 | $ | 2,787,386 | $ | 2,754,932 | |||||||||||||||
Land and lot sales revenue | 2,626 | 581 | 4,337 | 7,520 | |||||||||||||||||||
Other operations revenue | 674 | 646 | 2,021 | 1,969 | |||||||||||||||||||
Total revenues | 1,060,791 | 1,030,177 | 2,793,744 | 2,764,421 | |||||||||||||||||||
Cost of home sales | 771,148 | 758,024 | 2,033,160 | 2,064,595 | |||||||||||||||||||
Cost of land and lot sales | 1,256 | 891 | 2,075 | 5,918 | |||||||||||||||||||
Other operations expense | 670 | 801 | 2,020 | 2,111 | |||||||||||||||||||
Sales and marketing | 41,950 | 44,875 | 112,712 | 130,824 | |||||||||||||||||||
General and administrative | 54,786 | 53,490 | 160,071 | 146,102 | |||||||||||||||||||
Homebuilding income from operations | 190,981 | 172,096 | 483,706 | 414,871 | |||||||||||||||||||
Equity in loss of unconsolidated entities | (122) | (43) | (34) | (72) | |||||||||||||||||||
Other income, net | 463 | 171 | 852 | 428 | |||||||||||||||||||
Homebuilding income before income taxes | 191,322 | 172,224 | 484,524 | 415,227 | |||||||||||||||||||
Financial Services: | |||||||||||||||||||||||
Revenues | 11,005 | 3,016 | 31,985 | 7,802 | |||||||||||||||||||
Expenses | 5,827 | 1,618 | 17,457 | 4,510 | |||||||||||||||||||
Equity in income of unconsolidated entities | — | 3,946 | 46 | 10,586 | |||||||||||||||||||
Financial services income before income taxes | 5,178 | 5,344 | 14,574 | 13,878 | |||||||||||||||||||
Income before income taxes | 196,500 | 177,568 | 499,098 | 429,105 | |||||||||||||||||||
Provision for income taxes | (45,923) | (44,412) | (122,084) | (107,278) | |||||||||||||||||||
Net income | 150,577 | 133,156 | 377,014 | 321,827 | |||||||||||||||||||
Net income attributable to noncontrolling interests | (1,351) | — | (3,927) | — | |||||||||||||||||||
Net income available to common stockholders | $ | 149,226 | $ | 133,156 | $ | 373,087 | $ | 321,827 | |||||||||||||||
Earnings per share | |||||||||||||||||||||||
Basic | $ | 1.47 | $ | 1.18 | $ | 3.60 | $ | 2.77 | |||||||||||||||
Diluted | $ | 1.45 | $ | 1.17 | $ | 3.57 | $ | 2.75 | |||||||||||||||
Weighted average shares outstanding | |||||||||||||||||||||||
Basic | 101,242,708 | 112,781,663 | 103,555,717 | 116,296,265 | |||||||||||||||||||
Diluted | 102,661,222 | 113,782,251 | 104,526,594 | 117,188,893 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||
New Homes Delivered | Average Sales Price | New Homes Delivered | Average Sales Price | New Homes Delivered | Average Sales Price | New Homes Delivered | Average Sales Price | ||||||||||||||||||||||||||||||||||||||||
Arizona | 166 | $ | 773 | 187 | $ | 685 | 363 | $ | 751 | 570 | $ | 667 | |||||||||||||||||||||||||||||||||||
California | 636 | 768 | 708 | 646 | 1,729 | 718 | 1,863 | 674 | |||||||||||||||||||||||||||||||||||||||
Nevada | 122 | 771 | 180 | 611 | 363 | 731 | 381 | 607 | |||||||||||||||||||||||||||||||||||||||
Washington | 46 | 853 | 76 | 983 | 172 | 978 | 223 | 984 | |||||||||||||||||||||||||||||||||||||||
West total | 970 | 773 | 1,151 | 669 | 2,627 | 742 | 3,037 | 687 | |||||||||||||||||||||||||||||||||||||||
Colorado | 82 | 753 | 55 | 589 | 201 | 699 | 154 | 584 | |||||||||||||||||||||||||||||||||||||||
Texas | 250 | 571 | 274 | 492 | 788 | 527 | 721 | 483 | |||||||||||||||||||||||||||||||||||||||
Central total | 332 | 616 | 329 | 508 | 989 | 562 | 875 | 501 | |||||||||||||||||||||||||||||||||||||||
Carolinas(1) | 80 | 469 | 25 | 386 | 152 | 464 | 64 | 383 | |||||||||||||||||||||||||||||||||||||||
Washington D.C. Area(2) | 81 | 805 | 127 | 643 | 279 | 762 | 327 | 628 | |||||||||||||||||||||||||||||||||||||||
East total | 161 | 638 | 152 | 601 | 431 | 657 | 391 | 588 | |||||||||||||||||||||||||||||||||||||||
Total | 1,463 | $ | 723 | 1,632 | $ | 630 | 4,047 | $ | 689 | 4,303 | $ | 640 | |||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Net New Home Orders | Average Selling Communities | Net New Home Orders | Average Selling Communities | Net New Home Orders | Average Selling Communities | Net New Home Orders | Average Selling Communities | ||||||||||||||||||||||||||||||||||||||||
Arizona | 74 | 13.5 | 182 | 13.2 | 484 | 13.5 | 676 | 14.4 | |||||||||||||||||||||||||||||||||||||||
California | 275 | 53.7 | 545 | 38.3 | 1,577 | 47.5 | 1,865 | 38.9 | |||||||||||||||||||||||||||||||||||||||
Nevada | 56 | 6.8 | 133 | 10.2 | 317 | 7.6 | 568 | 11.1 | |||||||||||||||||||||||||||||||||||||||
Washington | 34 | 3.0 | 68 | 6.5 | 103 | 2.8 | 229 | 5.7 | |||||||||||||||||||||||||||||||||||||||
West total | 439 | 77.0 | 928 | 68.2 | 2,481 | 71.4 | 3,338 | 70.1 | |||||||||||||||||||||||||||||||||||||||
Colorado | 15 | 7.3 | 55 | 6.5 | 180 | 7.7 | 218 | 5.7 | |||||||||||||||||||||||||||||||||||||||
Texas | 123 | 23.5 | 238 | 21.5 | 691 | 22.8 | 945 | 22.6 | |||||||||||||||||||||||||||||||||||||||
Central total | 138 | 30.8 | 293 | 28.0 | 871 | 30.5 | 1,163 | 28.3 | |||||||||||||||||||||||||||||||||||||||
Carolinas(1) | 76 | 13.7 | 41 | 3.0 | 372 | 11.3 | 129 | 3.1 | |||||||||||||||||||||||||||||||||||||||
Washington D.C. Area(2) | 28 | 6.8 | 87 | 9.8 | 209 | 7.5 | 328 | 10.6 | |||||||||||||||||||||||||||||||||||||||
East total | 104 | 20.5 | 128 | 12.8 | 581 | 18.8 | 457 | 13.7 | |||||||||||||||||||||||||||||||||||||||
Total | 681 | 128.3 | 1,349 | 109.0 | 3,933 | 120.7 | 4,958 | 112.1 | |||||||||||||||||||||||||||||||||||||||
As of September 30, 2022 | As of September 30, 2021 | ||||||||||||||||||||||||||||||||||
Backlog Units | Backlog Dollar Value | Average Sales Price | Backlog Units | Backlog Dollar Value | Average Sales Price | ||||||||||||||||||||||||||||||
Arizona | 641 | $ | 531,135 | $ | 829 | 585 | $ | 438,093 | $ | 749 | |||||||||||||||||||||||||
California | 884 | 836,320 | 946 | 1,260 | 843,994 | 670 | |||||||||||||||||||||||||||||
Nevada | 280 | 232,850 | 832 | 323 | 226,035 | 700 | |||||||||||||||||||||||||||||
Washington | 60 | 48,387 | 806 | 145 | 155,172 | 1,070 | |||||||||||||||||||||||||||||
West total | 1,865 | 1,648,692 | 884 | 2,313 | 1,663,294 | 719 | |||||||||||||||||||||||||||||
Colorado | 163 | 128,733 | 790 | 190 | 135,851 | 715 | |||||||||||||||||||||||||||||
Texas | 539 | 346,530 | 643 | 722 | 364,537 | 505 | |||||||||||||||||||||||||||||
Central total | 702 | 475,263 | 677 | 912 | 500,388 | 549 | |||||||||||||||||||||||||||||
Carolinas(1) | 341 | 161,675 | 474 | 80 | 34,358 | 429 | |||||||||||||||||||||||||||||
Washington D.C. Area(2) | 136 | 141,671 | 1,042 | 314 | 230,372 | 734 | |||||||||||||||||||||||||||||
East total | 477 | 303,346 | 636 | 394 | 264,730 | 672 | |||||||||||||||||||||||||||||
Total | 3,044 | $ | 2,427,301 | $ | 797 | 3,619 | $ | 2,428,412 | $ | 671 | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||||||||||||||
Lots Owned or Controlled: | |||||||||||||||||||||||||||||||||||
Arizona | 3,355 | 4,607 | |||||||||||||||||||||||||||||||||
California | 12,863 | 15,091 | |||||||||||||||||||||||||||||||||
Nevada | 1,815 | 2,161 | |||||||||||||||||||||||||||||||||
Washington | 891 | 1,010 | |||||||||||||||||||||||||||||||||
West total | 18,924 | 22,869 | |||||||||||||||||||||||||||||||||
Colorado | 1,973 | 1,683 | |||||||||||||||||||||||||||||||||
Texas | 10,994 | 12,297 | |||||||||||||||||||||||||||||||||
Central total | 12,967 | 13,980 | |||||||||||||||||||||||||||||||||
Carolinas(1) | 3,929 | 3,458 | |||||||||||||||||||||||||||||||||
Washington D.C. Area(2) | 1,449 | 1,368 | |||||||||||||||||||||||||||||||||
East total | 5,378 | 4,826 | |||||||||||||||||||||||||||||||||
Total | 37,269 | 41,675 | |||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||||||||||||||
Lots by Ownership Type: | |||||||||||||||||||||||||||||||||||
Lots owned | 20,698 | 22,136 | |||||||||||||||||||||||||||||||||
Lots controlled (3) | 16,571 | 19,539 | |||||||||||||||||||||||||||||||||
Total | 37,269 | 41,675 |
Three Months Ended September 30, | |||||||||||||||||||||||
2022 | % | 2021 | % | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||
Home sales revenue | $ | 1,057,491 | 100.0 | % | $ | 1,028,950 | 100.0 | % | |||||||||||||||
Cost of home sales | 771,148 | 72.9 | % | 758,024 | 73.7 | % | |||||||||||||||||
Homebuilding gross margin | 286,343 | 27.1 | % | 270,926 | 26.3 | % | |||||||||||||||||
Add: interest in cost of home sales | 26,531 | 2.5 | % | 25,656 | 2.5 | % | |||||||||||||||||
Add: impairments and lot option abandonments | 3,034 | 0.3 | % | 268 | 0.0 | % | |||||||||||||||||
Adjusted homebuilding gross margin | $ | 315,908 | 29.9 | % | $ | 296,850 | 28.8 | % | |||||||||||||||
Homebuilding gross margin percentage | 27.1 | % | 26.3 | % | |||||||||||||||||||
Adjusted homebuilding gross margin percentage | 29.9 | % | 28.8 | % |
Nine Months Ended September 30, | |||||||||||||||||||||||
2022 | % | 2021 | % | ||||||||||||||||||||
Home sales revenue | $ | 2,787,386 | 100.0 | % | $ | 2,754,932 | 100.0 | % | |||||||||||||||
Cost of home sales | 2,033,160 | 72.9 | % | 2,064,595 | 74.9 | % | |||||||||||||||||
Homebuilding gross margin | 754,226 | 27.1 | % | 690,337 | 25.1 | % | |||||||||||||||||
Add: interest in cost of home sales | 68,559 | 2.5 | % | 77,185 | 2.8 | % | |||||||||||||||||
Add: impairments and lot option abandonments | 4,495 | 0.2 | % | 713 | 0.0 | % | |||||||||||||||||
Adjusted homebuilding gross margin | $ | 827,280 | 29.7 | % | $ | 768,235 | 27.9 | % | |||||||||||||||
Homebuilding gross margin percentage | 27.1 | % | 25.1 | % | |||||||||||||||||||
Adjusted homebuilding gross margin percentage | 29.7 | % | 27.9 | % |
September 30, 2022 | December 31, 2021 | ||||||||||
Loans payable | $ | 250,000 | $ | 250,504 | |||||||
Senior notes | 1,089,752 | 1,087,219 | |||||||||
Total debt | 1,339,752 | 1,337,723 | |||||||||
Stockholders’ equity | 2,625,730 | 2,447,621 | |||||||||
Total capital | $ | 3,965,482 | $ | 3,785,344 | |||||||
Ratio of debt-to-capital(1) | 33.8 | % | 35.3 | % | |||||||
Total debt | $ | 1,339,752 | $ | 1,337,723 | |||||||
Less: Cash and cash equivalents | (228,137) | (681,528) | |||||||||
Net debt | 1,111,615 | 656,195 | |||||||||
Stockholders’ equity | 2,625,730 | 2,447,621 | |||||||||
Net capital | $ | 3,737,345 | $ | 3,103,816 | |||||||
Ratio of net debt-to-net capital(2) | 29.7 | % | 21.1 | % |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||
Net income available to common stockholders | $ | 149,226 | $ | 133,156 | $ | 373,087 | $ | 321,827 | |||||||||||||||
Interest expense: | |||||||||||||||||||||||
Interest incurred | 31,893 | 24,280 | 89,235 | 68,017 | |||||||||||||||||||
Interest capitalized | (31,893) | (24,280) | (89,235) | (68,017) | |||||||||||||||||||
Amortization of interest in cost of sales | 26,611 | 25,655 | 68,639 | 77,457 | |||||||||||||||||||
Provision for income taxes | 45,923 | 44,412 | 122,084 | 107,278 | |||||||||||||||||||
Depreciation and amortization | 6,615 | 7,979 | 18,641 | 24,098 | |||||||||||||||||||
EBITDA | 228,375 | 211,202 | 582,451 | 530,660 | |||||||||||||||||||
Amortization of stock-based compensation | 5,717 | 4,410 | 16,740 | 12,572 | |||||||||||||||||||
Impairments and lot option abandonments | 3,277 | 268 | 5,174 | 713 | |||||||||||||||||||
Adjusted EBITDA | $ | 237,369 | $ | 215,880 | $ | 604,365 | $ | 543,945 |
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Cover Page |
Oct. 27, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Oct. 27, 2022 |
Entity Registrant Name | Tri Pointe Homes, Inc. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 1-35796 |
Entity Tax Identification Number | 61-1763235 |
Entity Address, Address Line One | 940 Southwood Blvd |
Entity Address, Address Line Two | Suite 200 |
Entity Address, City or Town | Incline Village |
Entity Address, State or Province | NV |
Entity Address, Postal Zip Code | 89451 |
City Area Code | 775 |
Local Phone Number | 413-1030 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, par value $0.01 per share |
Trading Symbol | TPH |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001561680 |
Amendment Flag | false |
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