Tri Pointe Profit Slips On Geographic Shift

Builder Online

TRI Pointe Group, Inc. (NYSE:TPH), Irvine, Calif., on Wednesday reported net income of $57.9 million, or $0.36 per share, for the fourth quarter ended Dec. 31, compared to net income of $85.1 million, or $0.52 per diluted share for the fourth quarter of 2015. The company attributed the decrease to lower home sales revenue and a $33.9 million decrease in home building gross margin, resulting in a 220 basis point decrease in home building gross margin percentage. The gain met analyst expectations.

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Michael Anderson
Michael Anderson 249 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

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