Exhibit 99.1
Fourth Quarter Highlights
-Diluted Earnings Per Share of $0.92-
-Homebuilding Gross Margin Percentage of 23.2%-
-Net New Home Orders up 14% Year-Over-Year-
-Backlog Dollar Value of $1.9 Billion, up 69% Year-Over-Year-
INCLINE VILLAGE, Nev., February 18, 2021 / Business Wire / – Tri Pointe Homes, Inc. (the “Company”) (NYSE: TPH) today announced results for the fourth quarter ended December 31, 2020 and full year 2020.
“Tri Pointe Homes finished the year on a strong note in the fourth quarter of 2020, highlighted by year-over-year order growth of 14% on a 38% improvement in order pace, homebuilding gross margin expansion of 130 basis points to 23.2% and a unit backlog increase of 69% as compared to last year,” said Tri Pointe Homes Chief Executive Officer Doug Bauer. “These results are reflective of a housing market that continues to exhibit strong momentum and our operational focus that seeks to capitalize on these trends.”
Mr. Bauer continued, “Tri Pointe enters 2021 on a solid foundation, with $1.2 billion in total liquidity, $621 million in cash, a debt-to-capital ratio of 37.6% and a net-debt-to-net capital ratio of 24.4%*. We believe this financial strength puts us in an excellent position to continue expanding our operations with an eye towards generating strong stockholder returns. Our main focus remains on this as we move forward and anticipate continued headway in 2021.”
Mr. Bauer concluded, “Given the current market dynamics, it is clear that there is a critical long-term need for additional housing supply in this country. Existing home inventory remains at historically low levels while demand is being driven by, among other things, powerful demographic forces and changes to how we live as a result of the COVID-19 pandemic. We believe these positive tailwinds will remain in place for the foreseeable future, providing our industry and our company with a very bright outlook.”
Results and Operational Data for Fourth Quarter 2020 and Comparisons to Fourth Quarter 2019
Net income was $115.1 million, or $0.92 per diluted share, compared to $118.0 million, or $0.85 per diluted share
Home sales revenue for the quarter was $1.0 billion, a decrease of 8%
New home deliveries of 1,633 homes compared to 1,795 homes, a decrease of 9%
Average sales price of homes delivered of $640,000 compared to $634,000, an increase of 1%
Homebuilding gross margin percentage was 23.2% compared to 21.9%, an increase of 130 basis points
Excluding interest, impairments and lot option abandonments, adjusted homebuilding gross margin percentage was 26.3%*
Selling, general and administrative (“SG&A”) expense as a percentage of homes sales revenue of 9.9% compared to 9.2%, an increase of 70 basis points
Net new home orders of 1,409 compared to 1,235, an increase of 14%
Active selling communities averaged 117.5 compared to 142.8, a decrease of 18%
Net new home orders per average selling community increased by 38% to 12.0 orders (4.0 monthly) compared to 8.6 orders (2.9 monthly)
Cancellation rate of 10% compared to 14%
Backlog units at quarter end of 2,964 homes compared to 1,752, an increase of 69%
Dollar value of backlog at quarter end of $1.9 billion compared to $1.1 billion, an increase of 69%
Average sales price in backlog at quarter end remained flat at $647,000 compared to $648,000
Page 1

The following information was filed by Tri Pointe Group, Inc. (TPH) on Thursday, February 18, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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