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Tri Pointe Group, Inc. (TPH) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Tri Pointe Group, Inc.

CIK: 1561680 Ticker: TPH
Exhibit 99.1
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TRI POINTE GROUP, INC. REPORTS 2018 THIRD QUARTER RESULTS

-Home Sales Revenue up 19% on an 8% Increase in Deliveries and a 10% Increase in Average Sales Price- 
-Homebuilding Gross Margin Percentage Increased 180 Basis Points to 21.3%-
-Diluted Earnings Per Share of $0.43-
-Repurchased $139.3 million of Common Stock-
Irvine, California, October 24, 2018 /Business Wire/ – TRI Pointe Group, Inc. (the "Company") (NYSE: TPH) today announced results for the third quarter ended September 30, 2018.
Results and Operational Data for Third Quarter 2018 and Comparisons to Third Quarter 2017
Net income available to common stockholders was $64.0 million, or $0.43 per diluted share, compared to $72.3 million, or $0.48 per diluted share
Home sales revenue of $771.8 million compared to $648.6 million, an increase of 19%
New home deliveries of 1,205 homes compared to 1,111 homes, an increase of 8%
Average sales price of homes delivered of $640,000 compared to $584,000, an increase of 10%
Homebuilding gross margin percentage of 21.3% compared to 19.5%, an increase of 180 basis points
Excluding interest and impairments and lot option abandonments, adjusted homebuilding gross margin percentage was 24.0%*
SG&A expense as a percentage of homes sales revenue of 10.7% compared to 10.2%, an increase of 50 basis points
New home orders of 1,035 compared to 1,268, a decrease of 18%
Active selling communities averaged 127.3 compared to 129.8, a decrease of 2%
New home orders per average selling community were 8.1 orders (2.7 monthly) compared to 9.8 orders (3.3 monthly)
Cancellation rate increased to 19% compared to 15%
Backlog units at quarter end of 2,101 homes compared to 2,265, a decrease of 7%
Dollar value of backlog at quarter end of $1.4 billion compared to $1.5 billion, a decrease of 3%
Average sales price of homes in backlog at quarter end of $681,000 compared to $654,000, an increase of 4%
Ratios of debt-to-capital and net debt-to-net capital of 43.7% and 42.3%*, respectively, as of September 30, 2018
Repurchased 9,852,009 shares of common stock at a weighted average price per share of $14.14 for an aggregate dollar amount of $139.3 million in the three months ended September 30, 2018
Ended third quarter of 2018 with total liquidity of $569.9 million, including cash of $83.1 million and $486.8 million of availability under the Company's unsecured revolving credit facility
 
*    See "Reconciliation of Non-GAAP Financial Measures"
“TRI Pointe Group turned in another strong operational performance in the third quarter, highlighted by year-over-year home sales revenue growth of 19% and gross margin expansion of 180 basis points,” said TRI Pointe Group Chief Executive Officer Doug Bauer. “Our absorption rates did slow in the quarter as compared to the same period last year, which we feel is a natural reaction by buyers confronted by higher mortgage interest rates and higher home prices. It is important to note that, while not as strong as the same period last year, our overall absorption rate of 2.7

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The following information was filed by Tri Pointe Group, Inc. (TPH) on Wednesday, October 24, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Accrued Expenses And Other Liabilities
Accrued Expenses And Other Liabilities (Tables)
Accrued Expenses And Other Liabilities - Schedule Of Accrued Expenses And Other Liabilities (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Schedule Of Warranty Reserves (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Computation Of Basic And Diluted Earnings Per Share (Detail)
Fair Value Disclosures
Fair Value Disclosures (Tables)
Fair Value Disclosures - Fair Value Of Nonfinancial Assets (Details)
Fair Value Disclosures - Summary Of Assets And Liabilities Related To Financial Instruments, Measured At Fair Value On A Recurring Basis (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Detail)
Goodwill And Other Intangible Assets - Schedule Of Expected Amortization Of Intangible Asset (Detail)
Goodwill And Other Intangible Assets - Schedule Of Goodwill And Other Intangible Assets (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Investments In Unconsolidated Entities
Investments In Unconsolidated Entities (Tables)
Investments In Unconsolidated Entities - Additional Information (Detail)
Investments In Unconsolidated Entities - Aggregated Assets, Liabilities And Operating Results Of Entities As Equity-Method Investments (Detail)
Investments In Unconsolidated Entities - Schedule Of Cumulative Investment In Entities On Equity Method, Including Share Of Earnings And Losses (Detail)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Cumulative Effect Of Adopting Asc 606 (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Impact Of Adopting Asc 606 On Consolidated Income Statement And Balance Sheet (Details)
Other Assets
Other Assets (Tables)
Other Assets - Schedule Of Other Assets (Detail)
Real Estate Inventories
Real Estate Inventories (Tables)
Real Estate Inventories - Schedule Of Land And Lot Option Abandonments And Pre-Acquisition Charges (Detail)
Real Estate Inventories - Summary Of Interest Incurred, Capitalized And Expensed (Detail)
Real Estate Inventories - Summary Of Real Estate Inventories (Detail)
Receivables
Receivables (Tables)
Receivables - Additional Information (Details)
Receivables - Components Of Receivables (Detail)
Related Party Transactions
Related Party Transactions - Additional Information (Detail)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Segment Information - Summary Of Financial Information Relating To Reportable Segments (Detail)
Senior Notes And Unsecured Revolving Credit Facility
Senior Notes And Unsecured Revolving Credit Facility (Tables)
Senior Notes And Unsecured Revolving Credit Facility - Additional Information (Detail)
Senior Notes And Unsecured Revolving Credit Facility - Schedule Of Senior Notes (Detail)
Senior Notes And Unsecured Revolving Credit Facility - Schedule Of Senior Notes (Phantoms) (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Summary Of Compensation Expense Recognized Related To All Stock-Based Awards (Detail)
Stock-Based Compensation - Summary Of Restricted Stock Units (Detail)
Stock-Based Compensation - Summary Of Stock Option Awards (Detail)
Supplemental Disclosure To Consolidated Statements Of Cash Flows
Supplemental Disclosure To Consolidated Statements Of Cash Flows (Tables)
Supplemental Disclosure To Consolidated Statements Of Cash Flows - Supplemental Disclosure To Consolidated Statements Of Cash Flows (Detail)
Supplemental Disclosure To Consolidated Statements Of Cash Flows - Supplemental Disclosure To Consolidated Statements Of Cash Flows Phantoms (Details)
Supplemental Guarantor Information
Supplemental Guarantor Information (Tables)
Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Detail)
Supplemental Guarantor Information - Condensed Consolidating Statement Of Cash Flows (Detail)
Supplemental Guarantor Information - Condensed Consolidating Statement Of Operations (Detail)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Additional Information (Detail)
Variable Interest Entities - Summary Of Interests In Land Option Agreements (Detail)

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Tri Pointe Group, Inc. provided additional information to their SEC Filing as exhibits

Ticker: TPH
CIK: 1561680
Form Type: 10-Q Quarterly Report
Accession Number: 0001561680-18-000103
Submitted to the SEC: Wed Oct 24 2018 4:22:19 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Operative Builders

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