Exhibit 99.1


-June Net New Home Orders up 28% Year-Over-Year-
-Backlog Dollar Value up 17% Year-Over-Year-
-Homebuilding Gross Margin Percentage of 21.6%-
-Diluted Earnings Per Share of $0.43-
IRVINE, Calif., July 24, 2020 / TRI Pointe Group, Inc. (the “Company”) (NYSE:TPH) today announced results for the second quarter ended June 30, 2020.
“TRI Pointe Group experienced a significant rebound from the initial weeks of the COVID-19 pandemic, with double-digit revenue growth and significant margin expansion as compared to the prior-year period, as well as improving order trends as the second quarter of 2020 progressed,” said TRI Pointe Group Chief Executive Officer Doug Bauer. “Net income for the quarter was $56.5 million, or $0.43 per diluted share, representing a 115% improvement over the prior-year period. Excluding the impact of costs related to the early extinguishment of debt and a workforce reduction plan, net income was $65.9 million, or $0.51 per diluted share. These results are a testament to the resiliency of our Company and underscore the heightened demand for single-family homes that currently exists in our country.”
Mr. Bauer continued, “Following the initial shock to the economy brought about by the COVID-19 pandemic, order activity steadily improved as the second quarter progressed, culminating in a 28% year-over-year improvement in net new home orders for the month of June, including a 36% year-over-year increase in California. This momentum has carried into July, with net new home orders up over 40% for the first three weeks of the month as compared to the prior-year period. The order activity has been broad-based, both from a geographic and product segment standpoint, and we have been actively raising prices in most markets in response to the strong demand.”
Mr. Bauer concluded, “While the long-term impact of the virus on the economy and our industry remains unclear, TRI Pointe Group is well positioned to navigate these uncertain times thanks to our seasoned management team, our well capitalized balance sheet and our strong market positioning. In addition, our team members have done an excellent job adapting to this new environment, giving me confidence that our Company will emerge from this health crisis a better and more efficient homebuilder.”
Results and Operational Data for Second Quarter 2020 and Comparisons to Second Quarter 2019
Net income was $56.5 million, or $0.43 per diluted share, compared to $26.3 million, or $0.18 per diluted share. In the second quarter of 2020, the Company recorded costs related to the early extinguishment and refinancing of a portion of its Senior Notes due 2021 in connection with the issuance of its Senior Notes due 2028 during the quarter. The charge incurred was $6.9 million and is included in other expense (income), net on the Company's consolidated statements of operations. In addition, the Company incurred $5.5 million of restructuring charges related to a workforce reduction plan that was implemented in the second quarter of 2020. Excluding these items, adjusted net income was $65.9 million, or $0.51 per diluted share, for the second quarter of 2020.*
Home sales revenue of $766.9 million compared to $692.1 million, an increase of 11%
New home deliveries of 1,229 homes compared to 1,125 homes, an increase of 9%
Average sales price of homes delivered of $624,000 compared to $615,000, an increase of 1%
Homebuilding gross margin percentage of 21.6% compared to 17.0%, an increase of 460 basis points
Excluding interest and impairments and lot option abandonments, adjusted homebuilding gross margin percentage was 24.6%*
SG&A expense as a percentage of homes sales revenue of 10.8% compared to 12.1%, a decrease of 130 basis points
Net new home orders of 1,332 compared to 1,491, a decrease of 11%
Page 1

The following information was filed by Tri Pointe Group, Inc. (TPH) on Friday, July 24, 2020 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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