Benzinga | Jul 24, 2020 07:23AM EDT

Recap: TRI Pointe Group Q2 Earnings

Shares of TRI Pointe Group (NYSE:TPH) moved higher by 4.1% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 183.33% over the past year to $0.51, which missed the estimate of $0.59.

Revenue of $767,810,000 higher by 10.01% year over year, which beat the estimate of $698,600,000.

Looking Ahead

TRI Pointe said it expects Q3 home deliveries of 1.1K-1.2K homes at an average sale price of $620K-$630K and projects FY20 home deliveries 4.4K-4.7K at $620K-$630K price.

Conference Call Details

Date: Jul 24, 2020

Time: 10:00 AM

ET Webcast URL: http://public.viavid.com/player/index.php?id=140559

Price Action

Company's 52-week high was at $18.63

Company's 52-week low was at $5.89

Price action over last quarter: Up 66.34%

Company Overview

TRI Pointe Group Inc is an American construction company that focuses on residential construction. The company designs and builds single-family homes and condominiums through its portfolio of six regional housing brands. Its largest regional brands include Maracay Homes, which operates in Arizona, and TRI Pointe and Pardee Homes, which operate in California, Nevada, and Colorado. From a geographic perspective, California is TRI Pointe's largest source of revenue, followed by Arizona and Nevada. The company also operates in Texas, Oregon, and Virginia. TRI Pointe completes approximately 4,000 homes annually with an average selling price around $500,000. TRI Pointe also is involved in the sale and development of land.