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Daily Alert - 01/25/19

This homebuilder will announce earnings on February 26.

This homebuilder will announce earnings on February 26. The quarterly estimate for EPS is $0.65. Last quarter, the company beat its forecasts by $0.03.

TRI Pointe Group, Inc. (TPH)
From The Buyback Letter

We last bought Irvine, Calif.-based TRI Pointe Group, Inc. (TPH) in Sept. 2017 and sold it 2 months later for a tidy 39.04% gain. TPH is one of the top 10 largest public homebuilders (by equity market capitalization) in the U.S.

The company is a family of premium regional homebuilders that design, construct and sell single-family homes in major U.S. markets. Its portfolio of six brands operates across eight states, including Maracay Homes® in Arizona; Pardee Homes® in California and Nevada; Quadrant Homes® in Washington; Trendmaker® Homes in Texas; TRI Pointe Homes® in California, Colorado and the Carolinas; and Winchester® Homes in the Washington, D.C. area.

TRI Pointe Group was recognized in Fortune magazine’s 2017 100 Fastest-Growing Companies list, named 2015 Builder of the Year by Builder magazine, and 2014 Developer of the Year by Builder and Developer magazine. The company was also named one of the Best Places to Work in Orange County by the Orange County Business Journal in 2016, 2017, and 2018.

TRI Pointe is known as a premium builder, and tries to differentiate its projects with a “placemaking” approach. This includes optimizing natural topography of the site, orienting home sites to maximize views and enhance outdoor living opportunities, designing environmentally-conscious communities, and collaborating with school districts, parks departments, city councils and surrounding community homeowners’ associations. This effort is designed to support local stakeholders and reduce the time, development risks and costs associated with bringing projects to market.

TPH announced in December it was expanding its Texas footprint by acquiring two Dallas-based homebuilders in a $60 million cash transaction. Dunhill Homes and Nathan Carlisle Homes (a 55+ brand) will both operate under TPH’s Houston-based Trendmaker Homes banner. (Dallas and Houston are #1 and #2 in new home starts in the country.)

Q3 earnings were $64 million (a profit of 43 cents per share). The results topped Wall Street expectations, which were for earnings of 38 cents per share. Revenue for the period was $774 million. TPH has a market cap of about $1.7 billion.

Shares outstanding have been reduced by 5.471% in the last 12 months.

David R. Fried, The Buyback Letter,, 888-289-2225, January 17, 2019

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