(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 26, 2023 | 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, | ||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | Change | % Change | 2023 | 2022 | Change | % Change | ||||||||||||||||||||||||||||||||||||||||
Operating Data: | (unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||
Home sales revenue | $ | 825,295 | $ | 1,057,491 | $ | (232,196) | (22) | % | $ | 2,412,777 | $ | 2,787,386 | $ | (374,609) | (13) | % | |||||||||||||||||||||||||||||||
Homebuilding gross margin | $ | 184,221 | $ | 286,343 | $ | (102,122) | (36) | % | $ | 531,586 | $ | 754,226 | $ | (222,640) | (30) | % | |||||||||||||||||||||||||||||||
Homebuilding gross margin % | 22.3 | % | 27.1 | % | (4.8) | % | 22.0 | % | 27.1 | % | (5.1) | % | |||||||||||||||||||||||||||||||||||
Adjusted homebuilding gross margin %* | 25.6 | % | 29.9 | % | (4.3) | % | 25.6 | % | 29.7 | % | (4.1) | % | |||||||||||||||||||||||||||||||||||
SG&A expense | $ | 101,233 | $ | 96,736 | $ | 4,497 | 5 | % | $ | 286,926 | $ | 272,783 | $ | 14,143 | 5 | % | |||||||||||||||||||||||||||||||
SG&A expense as a % of home sales revenue | 12.3 | % | 9.1 | % | 3.2 | % | 11.9 | % | 9.8 | % | 2.1 | % | |||||||||||||||||||||||||||||||||||
Net income available to common stockholders | $ | 75,402 | $ | 149,226 | $ | (73,824) | (49) | % | $ | 210,868 | $ | 373,087 | $ | (162,219) | (43) | % | |||||||||||||||||||||||||||||||
Adjusted EBITDA* | $ | 139,678 | $ | 237,369 | $ | (97,691) | (41) | % | $ | 403,581 | $ | 604,365 | $ | (200,784) | (33) | % | |||||||||||||||||||||||||||||||
Interest incurred | $ | 36,919 | $ | 31,893 | $ | 5,026 | 16 | % | $ | 111,792 | $ | 89,235 | $ | 22,557 | 25 | % | |||||||||||||||||||||||||||||||
Interest in cost of home sales | $ | 27,035 | $ | 26,531 | $ | 504 | 2 | % | $ | 72,627 | $ | 68,559 | $ | 4,068 | 6 | % | |||||||||||||||||||||||||||||||
Other Data: | |||||||||||||||||||||||||||||||||||||||||||||||
Net new home orders | 1,513 | 681 | 832 | 122 | % | 5,044 | 3,933 | 1,111 | 28 | % | |||||||||||||||||||||||||||||||||||||
New homes delivered | 1,223 | 1,463 | (240) | (16) | % | 3,461 | 4,047 | (586) | (14) | % | |||||||||||||||||||||||||||||||||||||
Average sales price of homes delivered | $ | 675 | $ | 723 | $ | (48) | (7) | % | $ | 697 | $ | 689 | $ | 8 | 1 | % | |||||||||||||||||||||||||||||||
Cancellation rate | 10 | % | 27 | % | (17) | % | 9 | % | 15 | % | (6) | % | |||||||||||||||||||||||||||||||||||
Average selling communities | 154.8 | 128.3 | 26.5 | 21 | % | 144.3 | 120.7 | 23.6 | 20 | % | |||||||||||||||||||||||||||||||||||||
Selling communities at end of period | 163 | 133 | 30 | 23 | % | ||||||||||||||||||||||||||||||||||||||||||
Backlog (estimated dollar value) | $ | 2,117,319 | $ | 2,427,301 | $ | (309,982) | (13) | % | |||||||||||||||||||||||||||||||||||||||
Backlog (homes) | 3,055 | 3,044 | 11 | 0 | % | ||||||||||||||||||||||||||||||||||||||||||
Average sales price in backlog | $ | 693 | $ | 797 | $ | (104) | (13) | % | |||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | Change | % Change | ||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Data: | (unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 849,039 | $ | 889,664 | $ | (40,625) | (5) | % | |||||||||||||||||||||||||||||||||||||||
Real estate inventories | $ | 3,412,797 | $ | 3,173,849 | $ | 238,948 | 8 | % | |||||||||||||||||||||||||||||||||||||||
Lots owned or controlled | 32,964 | 33,794 | (830) | (2) | % | ||||||||||||||||||||||||||||||||||||||||||
Homes under construction (1) | 3,558 | 2,373 | 1,185 | 50 | % | ||||||||||||||||||||||||||||||||||||||||||
Homes completed, unsold | 185 | 288 | (103) | (36) | % | ||||||||||||||||||||||||||||||||||||||||||
Debt | $ | 1,381,658 | $ | 1,378,051 | $ | 3,607 | 0 | % | |||||||||||||||||||||||||||||||||||||||
Stockholders’ equity | $ | 2,923,397 | $ | 2,832,389 | $ | 91,008 | 3 | % | |||||||||||||||||||||||||||||||||||||||
Book capitalization | $ | 4,305,055 | $ | 4,210,440 | $ | 94,615 | 2 | % | |||||||||||||||||||||||||||||||||||||||
Ratio of debt-to-capital | 32.1 | % | 32.7 | % | (0.6) | % | |||||||||||||||||||||||||||||||||||||||||
Ratio of net debt-to-net capital* | 15.4 | % | 14.7 | % | 0.7 | % |
September 30, | December 31, | ||||||||||
2023 | 2022 | ||||||||||
Assets | (unaudited) | ||||||||||
Cash and cash equivalents | $ | 849,039 | $ | 889,664 | |||||||
Receivables | 119,406 | 169,449 | |||||||||
Real estate inventories | 3,412,797 | 3,173,849 | |||||||||
Investments in unconsolidated entities | 139,384 | 129,837 | |||||||||
Goodwill and other intangible assets, net | 156,603 | 156,603 | |||||||||
Deferred tax assets, net | 34,850 | 34,851 | |||||||||
Other assets | 158,152 | 165,687 | |||||||||
Total assets | $ | 4,870,231 | $ | 4,719,940 | |||||||
Liabilities | |||||||||||
Accounts payable | $ | 55,231 | $ | 62,324 | |||||||
Accrued expenses and other liabilities | 509,189 | 443,034 | |||||||||
Loans payable | 288,337 | 287,427 | |||||||||
Senior notes | 1,093,321 | 1,090,624 | |||||||||
Total liabilities | 1,946,078 | 1,883,409 | |||||||||
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, 2023 and December 31, 2022, respectively | — | — | |||||||||
Common stock, $0.01 par value, 500,000,000 shares authorized; 97,341,774 and 101,017,708 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively | 973 | 1,010 | |||||||||
Additional paid-in capital | — | 3,685 | |||||||||
Retained earnings | 2,922,424 | 2,827,694 | |||||||||
Total stockholders’ equity | 2,923,397 | 2,832,389 | |||||||||
Noncontrolling interests | 756 | 4,142 | |||||||||
Total equity | 2,924,153 | 2,836,531 | |||||||||
Total liabilities and equity | $ | 4,870,231 | $ | 4,719,940 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Homebuilding: | |||||||||||||||||||||||
Home sales revenue | $ | 825,295 | $ | 1,057,491 | $ | 2,412,777 | $ | 2,787,386 | |||||||||||||||
Land and lot sales revenue | 1,714 | 2,626 | 10,506 | 4,337 | |||||||||||||||||||
Other operations revenue | 749 | 674 | 2,219 | 2,021 | |||||||||||||||||||
Total revenues | 827,758 | 1,060,791 | 2,425,502 | 2,793,744 | |||||||||||||||||||
Cost of home sales | 641,074 | 771,148 | 1,881,191 | 2,033,160 | |||||||||||||||||||
Cost of land and lot sales | 1,474 | 1,256 | 10,287 | 2,075 | |||||||||||||||||||
Other operations expense | 724 | 670 | 2,171 | 2,020 | |||||||||||||||||||
Sales and marketing | 42,874 | 41,950 | 127,977 | 112,712 | |||||||||||||||||||
General and administrative | 58,359 | 54,786 | 158,949 | 160,071 | |||||||||||||||||||
Homebuilding income from operations | 83,253 | 190,981 | 244,927 | 483,706 | |||||||||||||||||||
Equity in income (loss) of unconsolidated entities | 3 | (122) | 272 | (34) | |||||||||||||||||||
Other income, net | 11,664 | 463 | 30,361 | 852 | |||||||||||||||||||
Homebuilding income before income taxes | 94,920 | 191,322 | 275,560 | 484,524 | |||||||||||||||||||
Financial Services: | |||||||||||||||||||||||
Revenues | 10,758 | 11,005 | 30,004 | 31,985 | |||||||||||||||||||
Expenses | 6,127 | 5,827 | 19,363 | 17,457 | |||||||||||||||||||
Equity in income of unconsolidated entities | — | — | — | 46 | |||||||||||||||||||
Financial services income before income taxes | 4,631 | 5,178 | 10,641 | 14,574 | |||||||||||||||||||
Income before income taxes | 99,551 | 196,500 | 286,201 | 499,098 | |||||||||||||||||||
Provision for income taxes | (22,942) | (45,923) | (71,764) | (122,084) | |||||||||||||||||||
Net income | 76,609 | 150,577 | 214,437 | 377,014 | |||||||||||||||||||
Net income attributable to noncontrolling interests | (1,207) | (1,351) | (3,569) | (3,927) | |||||||||||||||||||
Net income available to common stockholders | $ | 75,402 | $ | 149,226 | $ | 210,868 | $ | 373,087 | |||||||||||||||
Earnings per share | |||||||||||||||||||||||
Basic | $ | 0.77 | $ | 1.47 | $ | 2.12 | $ | 3.60 | |||||||||||||||
Diluted | $ | 0.76 | $ | 1.45 | $ | 2.10 | $ | 3.57 | |||||||||||||||
Weighted average shares outstanding | |||||||||||||||||||||||
Basic | 98,018,498 | 101,242,708 | 99,534,570 | 103,555,717 | |||||||||||||||||||
Diluted | 99,030,210 | 102,661,222 | 100,458,357 | 104,526,594 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||
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 | 167 | $ | 809 | 166 | $ | 732 | 497 | $ | 785 | 363 | $ | 733 | |||||||||||||||||||||||||||||||||||
California | 425 | 683 | 636 | 698 | 1,116 | 764 | 1,729 | 690 | |||||||||||||||||||||||||||||||||||||||
Nevada | 103 | 749 | 122 | 724 | 289 | 751 | 363 | 711 | |||||||||||||||||||||||||||||||||||||||
Washington | 48 | 847 | 46 | 1,092 | 106 | 823 | 172 | 1,023 | |||||||||||||||||||||||||||||||||||||||
West total | 743 | 731 | 970 | 773 | 2,008 | 770 | 2,627 | 742 | |||||||||||||||||||||||||||||||||||||||
Colorado | 17 | 733 | 82 | 682 | 110 | 754 | 201 | 662 | |||||||||||||||||||||||||||||||||||||||
Texas | 287 | 527 | 250 | 511 | 775 | 565 | 788 | 507 | |||||||||||||||||||||||||||||||||||||||
Central total | 304 | 538 | 332 | 616 | 885 | 589 | 989 | 562 | |||||||||||||||||||||||||||||||||||||||
Carolinas(1) | 122 | 445 | 80 | 462 | 439 | 454 | 152 | 458 | |||||||||||||||||||||||||||||||||||||||
Washington D.C. Area(2) | 54 | 1,185 | 81 | 770 | 129 | 1,125 | 279 | 744 | |||||||||||||||||||||||||||||||||||||||
East total | 176 | 672 | 161 | 638 | 568 | 607 | 431 | 657 | |||||||||||||||||||||||||||||||||||||||
Total | 1,223 | $ | 675 | 1,463 | $ | 723 | 3,461 | $ | 697 | 4,047 | $ | 689 | |||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||
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 | 129 | 14.0 | 74 | 13.5 | 435 | 13.6 | 484 | 13.5 | |||||||||||||||||||||||||||||||||||||||
California | 508 | 48.8 | 275 | 53.7 | 1,996 | 50.6 | 1,577 | 47.5 | |||||||||||||||||||||||||||||||||||||||
Nevada | 146 | 10.5 | 56 | 6.8 | 335 | 8.6 | 317 | 7.6 | |||||||||||||||||||||||||||||||||||||||
Washington | 44 | 5.5 | 34 | 3.0 | 166 | 5.4 | 103 | 2.8 | |||||||||||||||||||||||||||||||||||||||
West total | 827 | 78.8 | 439 | 77.0 | 2,932 | 78.2 | 2,481 | 71.4 | |||||||||||||||||||||||||||||||||||||||
Colorado | 39 | 9.5 | 15 | 7.3 | 118 | 7.6 | 180 | 7.7 | |||||||||||||||||||||||||||||||||||||||
Texas | 454 | 49.0 | 123 | 23.5 | 1,262 | 40.8 | 691 | 22.8 | |||||||||||||||||||||||||||||||||||||||
Central total | 493 | 58.5 | 138 | 30.8 | 1,380 | 48.4 | 871 | 30.5 | |||||||||||||||||||||||||||||||||||||||
Carolinas(1) | 139 | 14.5 | 76 | 13.7 | 578 | 14.4 | 372 | 11.3 | |||||||||||||||||||||||||||||||||||||||
Washington D.C. Area(2) | 54 | 3.0 | 28 | 6.8 | 154 | 3.3 | 209 | 7.5 | |||||||||||||||||||||||||||||||||||||||
East total | 193 | 17.5 | 104 | 20.5 | 732 | 17.7 | 581 | 18.8 | |||||||||||||||||||||||||||||||||||||||
Total | 1,513 | 154.8 | 681 | 128.3 | 5,044 | 144.3 | 3,933 | 120.7 | |||||||||||||||||||||||||||||||||||||||
As of September 30, 2023 | As of September 30, 2022 | ||||||||||||||||||||||||||||||||||
Backlog Units | Backlog Dollar Value | Average Sales Price | Backlog Units | Backlog Dollar Value | Average Sales Price | ||||||||||||||||||||||||||||||
Arizona | 316 | $ | 233,631 | $ | 739 | 641 | $ | 531,135 | $ | 829 | |||||||||||||||||||||||||
California | 1,178 | 892,158 | 757 | 884 | 836,320 | 946 | |||||||||||||||||||||||||||||
Nevada | 171 | 112,684 | 659 | 280 | 232,850 | 832 | |||||||||||||||||||||||||||||
Washington | 95 | 90,768 | 955 | 60 | 48,387 | 806 | |||||||||||||||||||||||||||||
West total | 1,760 | 1,329,241 | 755 | 1,865 | 1,648,692 | 884 | |||||||||||||||||||||||||||||
Colorado | 58 | 39,254 | 677 | 163 | 128,733 | 790 | |||||||||||||||||||||||||||||
Texas | 769 | 448,721 | 584 | 539 | 346,530 | 643 | |||||||||||||||||||||||||||||
Central total | 827 | 487,975 | 590 | 702 | 475,263 | 677 | |||||||||||||||||||||||||||||
Carolinas(1) | 359 | 171,820 | 479 | 341 | 161,675 | 474 | |||||||||||||||||||||||||||||
Washington D.C. Area(2) | 109 | 128,283 | 1,177 | 136 | 141,671 | 1,042 | |||||||||||||||||||||||||||||
East total | 468 | 300,103 | 641 | 477 | 303,346 | 636 | |||||||||||||||||||||||||||||
Total | 3,055 | $ | 2,117,319 | $ | 693 | 3,044 | $ | 2,427,301 | $ | 797 | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||
2023 | 2022 | ||||||||||||||||||||||||||||||||||
Lots Owned or Controlled: | |||||||||||||||||||||||||||||||||||
Arizona | 2,352 | 2,901 | |||||||||||||||||||||||||||||||||
California | 11,206 | 11,399 | |||||||||||||||||||||||||||||||||
Nevada | 1,901 | 1,634 | |||||||||||||||||||||||||||||||||
Washington | 779 | 827 | |||||||||||||||||||||||||||||||||
West total | 16,238 | 16,761 | |||||||||||||||||||||||||||||||||
Colorado | 1,942 | 1,600 | |||||||||||||||||||||||||||||||||
Texas | 10,047 | 10,361 | |||||||||||||||||||||||||||||||||
Central total | 11,989 | 11,961 | |||||||||||||||||||||||||||||||||
Carolinas(1) | 3,760 | 3,857 | |||||||||||||||||||||||||||||||||
Washington D.C. Area(2) | 977 | 1,215 | |||||||||||||||||||||||||||||||||
East total | 4,737 | 5,072 | |||||||||||||||||||||||||||||||||
Total | 32,964 | 33,794 | |||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||
2023 | 2022 | ||||||||||||||||||||||||||||||||||
Lots by Ownership Type: | |||||||||||||||||||||||||||||||||||
Lots owned | 18,921 | 18,762 | |||||||||||||||||||||||||||||||||
Lots controlled (3) | 14,043 | 15,032 | |||||||||||||||||||||||||||||||||
Total | 32,964 | 33,794 |
Three Months Ended September 30, | |||||||||||||||||||||||
2023 | % | 2022 | % | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||
Home sales revenue | $ | 825,295 | 100.0 | % | $ | 1,057,491 | 100.0 | % | |||||||||||||||
Cost of home sales | 641,074 | 77.7 | % | 771,148 | 72.9 | % | |||||||||||||||||
Homebuilding gross margin | 184,221 | 22.3 | % | 286,343 | 27.1 | % | |||||||||||||||||
Add: interest in cost of home sales | 27,035 | 3.3 | % | 26,531 | 2.5 | % | |||||||||||||||||
Add: impairments and lot option abandonments | 197 | 0.0 | % | 3,034 | 0.3 | % | |||||||||||||||||
Adjusted homebuilding gross margin | $ | 211,453 | 25.6 | % | $ | 315,908 | 29.9 | % | |||||||||||||||
Homebuilding gross margin percentage | 22.3 | % | 27.1 | % | |||||||||||||||||||
Adjusted homebuilding gross margin percentage | 25.6 | % | 29.9 | % |
Nine Months Ended September 30, | |||||||||||||||||||||||
2023 | % | 2022 | % | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||
Home sales revenue | $ | 2,412,777 | 100.0 | % | $ | 2,787,386 | 100.0 | % | |||||||||||||||
Cost of home sales | 1,881,191 | 78.0 | % | 2,033,160 | 72.9 | % | |||||||||||||||||
Homebuilding gross margin | 531,586 | 22.0 | % | 754,226 | 27.1 | % | |||||||||||||||||
Add: interest in cost of home sales | 72,627 | 3.0 | % | 68,559 | 2.5 | % | |||||||||||||||||
Add: impairments and lot option abandonments | 12,675 | 0.5 | % | 4,495 | 0.2 | % | |||||||||||||||||
Adjusted homebuilding gross margin | $ | 616,888 | 25.6 | % | $ | 827,280 | 29.7 | % | |||||||||||||||
Homebuilding gross margin percentage | 22.0 | % | 27.1 | % | |||||||||||||||||||
Adjusted homebuilding gross margin percentage | 25.6 | % | 29.7 | % |
September 30, 2023 | December 31, 2022 | ||||||||||
Loans payable | $ | 288,337 | $ | 287,427 | |||||||
Senior notes | 1,093,321 | 1,090,624 | |||||||||
Total debt | 1,381,658 | 1,378,051 | |||||||||
Stockholders’ equity | 2,923,397 | 2,832,389 | |||||||||
Total capital | $ | 4,305,055 | $ | 4,210,440 | |||||||
Ratio of debt-to-capital(1) | 32.1 | % | 32.7 | % | |||||||
Total debt | $ | 1,381,658 | $ | 1,378,051 | |||||||
Less: Cash and cash equivalents | (849,039) | (889,664) | |||||||||
Net debt | 532,619 | 488,387 | |||||||||
Stockholders’ equity | 2,923,397 | 2,832,389 | |||||||||
Net capital | $ | 3,456,016 | $ | 3,320,776 | |||||||
Ratio of net debt-to-net capital(2) | 15.4 | % | 14.7 | % |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||
Net income available to common stockholders | $ | 75,402 | $ | 149,226 | $ | 210,868 | $ | 373,087 | |||||||||||||||
Interest expense: | |||||||||||||||||||||||
Interest incurred | 36,919 | 31,893 | 111,792 | 89,235 | |||||||||||||||||||
Interest capitalized | (36,919) | (31,893) | (111,792) | (89,235) | |||||||||||||||||||
Amortization of interest in cost of sales | 27,264 | 26,611 | 73,196 | 68,639 | |||||||||||||||||||
Provision for income taxes | 22,942 | 45,923 | 71,764 | 122,084 | |||||||||||||||||||
Depreciation and amortization | 6,884 | 6,615 | 20,066 | 18,641 | |||||||||||||||||||
EBITDA | 132,492 | 228,375 | 375,894 | 582,451 | |||||||||||||||||||
Amortization of stock-based compensation | 6,989 | 5,717 | 15,012 | 16,740 | |||||||||||||||||||
Impairments and lot option abandonments | 197 | 3,277 | 12,675 | 5,174 | |||||||||||||||||||
Adjusted EBITDA | $ | 139,678 | $ | 237,369 | $ | 403,581 | $ | 604,365 |
]>':?8W.K7EO8PAI)'?:B
]>':?8W.K7EO8PAI)'?:B
Cover Page |
Oct. 26, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Oct. 26, 2023 |
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 $0.01 per share |
Trading Symbol | TPH |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001561680 |
Amendment Flag | false |
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end
<%WWKP.O,>C ^$
M\;I0*Y0M@H]4:Q((4TCT#EI 4K16)**IWFH2TGRKUZJ?W7:L]Q-,M7K,OU @;_E=J@QA 1X/HI\I$B:I4H^IXY7O*YB:B'!I;(H$7^-:AQ>BF
M/P0)6DUZ F9%TR,+$O'3OT()P \L[BW:.F6;D.G@&>:Y !@9VPK0S61? M\
MFZ-/TVZ:QYK7TUL>05;/3+_9B5F!4@\D!<)-'OX[SC5%OT1V)9=-K4?)542?
M2G)60)U3"6%J3C+I<=5$*Z>S\E#L9[IF*PDEI>?>\XJ5O7Z5'L@B3TZ3F$05
M [ZQ*_4!XAE$2N.&6+3PJM[I[P7MIC']T,HC =L4-R=S%=3* <_-IW @#F)&.Y!G3)Z"+5+!F?H_YJ6/[<+>='ZVNF-C7<8[E[=Q5S]XJ
MR&?>')A>IW+EM0GD=NO/C-OA- J4CFQ4^>O/%9]/B?(;>/^59KX8U,&;"F 5\_M.5-/:
P:0X$/$
MT7R@-/Z73+NP% J4SEKE]9-,:3,#&4;Q0._LX@DPN9,WZF%3&>W(]2#?=Q6%
MCB_"Y=F^JNA?\A$4O!,7$7?R.#&XH^0T\Y;7+'Y58QKQ](F68,&!HAE6[E<>
MJ0Z"'4)RH60^M;ITUR-H#-6$]KY!Q-^X)M%AV+YOJ_+1NXS
H#,Q@ _GL?1(GDTHE;MVC
;J/Y=NV6UVN)1^:#_->2.NDB[CUW@X$+W(-/='<
MC<1"J0KWDS3/
M2IQZH!!_G-"5K@6]NJ9$;?-E "V37# N;]\S.;
M#RP@!W#33MY^=#3(^G'G$4>:7R=!CR1II?GV195L.4M4C^#[;$*IYPVAF)Y6
MW,[/ O.9Y-"1H,AP70G YSSB#JTBB0'T7H,3Q$1+LK*KJO6+O-]%_5+F5LFX
M*W-6C\1E8/L;0QHENQJ4[3IQ(Z1L8;M^^JX$ RC>P[_'@
MCYT3JHX],(F:W:![;@KIAQ:'=Q>99)9L/5E+,* S2U*%^YV+J9=(;>HNXG>/
M=
I1=P*CHQC!LD8O00U+--X
M$ ROV^X'Q80[E2/).BTXSK?;ZY >ST4()023$1%A(/=Y[I 5"N2AG,F@1)O]
MQD3DF0?]0)EPUW)4B?>=4(*[AJ1X1ZB]*IHRY$9%+WB&D7!1(QZM!-2!?.XX
M;),#AZIY6#/[6XO]<)APKW*0A'L._U4R[0..G^_6MBYS;V"^*?$E -<
?72O%4A
M()T#))(K"9TZ*^,E^QSP:TC41N@1&KYPN-8]CD)!,0
MMOX],.(LY%(:WIEY,EDD.8#W\/*&F;I=MNY3[J;/5R]+7N$R$$:262N%Z7SQ
M^5\?WITJ3CZR&%8HJSV8R06V&O,QWU*/*YQ,A0L[;NGKS/^;-%BH?]L"&<4P.+XH0OJ0Z>)1U/R*T!3Y5->L
M4UG6C6<0-S.H+%%YPPFS,O*_G[:#OMEV\$K?-JR_>KF]86H=L3=6#O+6N\MP
M6R?'5BG_>_EOZ?.7RZ_G-Q\^7UU+YU?OI-\_7)U?77PX_RB].[\YWRSE16'U
MD\RAG =YHAGTY26O6S!NMEOWF'.M5,TI8P/7'/<0+2S?@9PMX
:Z?/'?B6,1TCE[W!M,ERN]OL"@1RJ'.RR%=UHAAX[6O
MR'/'FYHIZV!O;3^7A#R'/+??6\ADF5AVA0B^>/S6<8-+ZU^5XWZEA'X(4QK3
MA.>%SN*8>ICXV=X(G6821ZGJ,Q$O2(
$1QU#MQI"@*L1P\;H,\=[RIV0Y1M:K..F0Y9+F77 5+#*/]
M"=-KO49F1"XV97OW+K%GQV,%OX>ZG4&&;:M3?+J]NI)]_T.PSZ?WEY_=?
MS[_\\>^-RT$4+CWQHB!P8W:/AI2.HQGTY26O)?''/0O=F>?#SF#-8)L9T@X!
MF"\*EH6^LM^:$S(K73(7?3QK?<3PF2;T3?'AS/.3:> ^OO%#/@;^HSI+SG$&
MAN(P29!O)?,7YPMRP(7$BL[-G]D#5=4V/I8'RN:?;NG6&NB:7JO7[<]TO5ZO
MV\9J#DS5:
O
MWIXHKR4I<\0\_[-PS2Q.9Z-?YO">(W6IP!U -YG&?L)ZCN)T+!5/)#?TI.MH
MMO#58.YD*J!K%4;JZU9!M*X:P@):G]SX,0",B/0OGZT;/T,L'5/IG9^DL3]*
MI>A6NHB"V63HK\&NF.>"XVY$PY3&^S7.#G.!C/%R]_7_:X&).I3+^_6IYLH_A8:_'Y
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MV3!&5,5'52&VB;AV$5<3S'#3P