$TPH
Tri Pointe Homes, Inc.

2023 Q3 Form 10-Q Financial Statement

#000156168023000083 Filed on July 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $838.5M $837.3M
YoY Change -21.77% -17.72%
Cost Of Revenue $642.5M $659.4M
YoY Change -16.82% -9.89%
Gross Profit $196.0M $178.0M
YoY Change -34.53% -37.77%
Gross Profit Margin 23.37% 21.25%
Selling, General & Admin $102.0M $98.25M
YoY Change 5.44% 3.04%
% of Gross Profit 52.04% 55.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.900M $6.128M
YoY Change 4.31% -9.09%
% of Gross Profit 3.52% 3.44%
Operating Expenses $108.1M $105.7M
YoY Change 11.75% 10.8%
Operating Profit $87.90M $72.31M
YoY Change -53.97% -59.31%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $11.70M $11.09M
YoY Change 2427.0% 9462.93%
Pretax Income $99.55M $83.44M
YoY Change -49.34% -54.62%
Income Tax $22.90M $21.50M
% Of Pretax Income 23.0% 25.77%
Net Earnings $75.40M $60.72M
YoY Change -49.92% -55.98%
Net Earnings / Revenue 8.99% 7.25%
Basic Earnings Per Share $0.77 $0.61
Diluted Earnings Per Share $0.76 $0.60
COMMON SHARES
Basic Shares Outstanding 98.99M shares 100.1M shares
Diluted Shares Outstanding 99.03M shares 100.6M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $849.0M $981.6M
YoY Change 272.14% 263.38%
Cash & Equivalents $849.0M $981.6M
Short-Term Investments
Other Short-Term Assets $14.20M $12.71M
YoY Change -38.36% 3.47%
Inventory $3.413B $3.193B
Prepaid Expenses
Receivables $67.70M $64.96M
Other Receivables $51.70M $52.17M
Total Short-Term Assets $4.395B $4.305B
YoY Change 9.09% 9.87%
LONG-TERM ASSETS
Property, Plant & Equipment $66.61M $66.79M
YoY Change -5.64% -1.9%
Goodwill $139.3M $139.3M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $139.4M $140.0M
YoY Change 4.81% 6.51%
Other Assets $40.30M $40.65M
YoY Change -37.0% -36.82%
Total Long-Term Assets $474.8M $475.8M
YoY Change -4.47% -4.16%
TOTAL ASSETS
Total Short-Term Assets $4.395B $4.305B
Total Long-Term Assets $474.8M $475.8M
Total Assets $4.870B $4.781B
YoY Change 7.6% 8.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $55.20M $78.39M
YoY Change -13.9% -30.6%
Accrued Expenses $367.3M $307.2M
YoY Change -3.85% -13.65%
Deferred Revenue $48.98M $46.71M
YoY Change -31.57% -39.91%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $552.3M $491.4M
YoY Change 2.51% -12.78%
LONG-TERM LIABILITIES
Long-Term Debt $1.382B $1.380B
YoY Change 3.13% 3.06%
Other Long-Term Liabilities $12.10M $12.51M
YoY Change -39.76% -47.33%
Total Long-Term Liabilities $1.394B $1.392B
YoY Change 2.5% 2.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $552.3M $491.4M
Total Long-Term Liabilities $1.394B $1.392B
Total Liabilities $1.946B $1.884B
YoY Change 2.5% -2.2%
SHAREHOLDERS EQUITY
Retained Earnings $2.922B $2.895B
YoY Change 11.34% 16.43%
Common Stock $973.0K $991.0K
YoY Change -3.57% -2.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.923B $2.896B
YoY Change
Total Liabilities & Shareholders Equity $4.870B $4.781B
YoY Change 7.6% 8.29%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $75.40M $60.72M
YoY Change -49.92% -55.98%
Depreciation, Depletion And Amortization $6.900M $6.128M
YoY Change 4.31% -9.09%
Cash From Operating Activities -$72.90M $62.10M
YoY Change 431.07% -220.07%
INVESTING ACTIVITIES
Capital Expenditures $6.700M $5.944M
YoY Change -173.44% -136.98%
Acquisitions
YoY Change
Other Investing Activities $1.900M -$5.392M
YoY Change -213.16% -34.09%
Cash From Investing Activities -$4.800M -$11.34M
YoY Change -55.56% -53.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -54.90M -35.49M
YoY Change 214.47% -46.72%
NET CHANGE
Cash From Operating Activities -72.90M 62.10M
Cash From Investing Activities -4.800M -11.34M
Cash From Financing Activities -54.90M -35.49M
Net Change In Cash -132.6M 15.27M
YoY Change 215.81% -110.71%
FREE CASH FLOW
Cash From Operating Activities -$72.90M $62.10M
Capital Expenditures $6.700M $5.944M
Free Cash Flow -$79.60M $56.15M
YoY Change 1628.93% -257.53%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Deferred Income Taxes And Tax Credits
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us-gaap Deferred Income Taxes And Tax Credits
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Production Related Impairments Or Charges
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us-gaap Production Related Impairments Or Charges
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Increase Decrease In Inventories
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us-gaap Use Of Estimates
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<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates.</span></div>
us-gaap Concentration Risk Credit Risk
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NumberOfProjectsTransferredToLandHeldForFutureDevelopment
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CY2023Q2 us-gaap Impairment Of Real Estate
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11500000 usd
CY2023Q2 tph Land Option Abandonments And Pre Acquisition Charges
LandOptionAbandonmentsAndPreAcquisitionCharges
261000 usd
CY2023Q2 us-gaap Production Related Impairments Or Charges
ProductionRelatedImpairmentsOrCharges
11761000 usd
CY2023Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
11500000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
11500000 usd
CY2023Q2 tph Variable Interest Entity Deposits At Risk
VariableInterestEntityDepositsAtRisk
189995000 usd
CY2023Q2 tph Variable Interest Entity Remaining Purchase Price
VariableInterestEntityRemainingPurchasePrice
1221682000 usd
CY2023Q2 tph Variable Interest Entity Consolidated Inventory Held
VariableInterestEntityConsolidatedInventoryHeld
0 usd
CY2022Q4 tph Variable Interest Entity Deposits At Risk
VariableInterestEntityDepositsAtRisk
228892000 usd
CY2022Q4 tph Variable Interest Entity Remaining Purchase Price
VariableInterestEntityRemainingPurchasePrice
1340333000 usd
CY2022Q4 tph Variable Interest Entity Consolidated Inventory Held
VariableInterestEntityConsolidatedInventoryHeld
0 usd
CY2023Q2 us-gaap Loans Payable
LoansPayable
287427000 usd
CY2022Q4 us-gaap Loans Payable
LoansPayable
287427000 usd
CY2023Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
37400000 usd
CY2022Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
28800000 usd
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1300000 usd
CY2022Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1100000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
74900000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
57300000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2500000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2300000 usd
CY2023Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
9600000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
9400000 usd
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 usd
CY2023Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 usd
CY2023Q2 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
52200000 usd
CY2022Q4 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
56400000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
101527000 usd
CY2022Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
103034000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
104375000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
103976000 usd
CY2023Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
6284000 usd
CY2022Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
6880000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
12186000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
11601000 usd
CY2023Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8568000 usd
CY2022Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
6460000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
17318000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
12123000 usd
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
99243000 usd
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
103454000 usd
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
99243000 usd
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
103454000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
2396000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
2490000 usd
us-gaap Lease Cost
LeaseCost
5231000 usd
us-gaap Lease Cost
LeaseCost
4960000 usd
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
89000 usd
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1309000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2016000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1392000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4162000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5751000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8023000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11023000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
34400000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
34900000 usd
CY2023Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
34900000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3400000 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
48800000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
76200000 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0 usd
tph Interest Paid Capitalized Net
InterestPaidCapitalizedNet
-2724000 usd
tph Interest Paid Capitalized Net
InterestPaidCapitalizedNet
-3757000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6719000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
94321000 usd
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

Files In Submission

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0001561680-23-000083.txt Edgar Link pending
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