TPH had a nice beat yesterday morning - the homebuilders are rallying this morning, maybe starting to breakout of the slump they've been in since early May.
I'm looking forward to seeing numerous earnings reports next week.
My largest sector holdings are CCS and MHO.
briefing 7/22 am -
TRI Pointe Homes beats by $0.18, beats on revs (20.72 ) :
Reports Q2 (Jun) earnings of $1.00 per share, $0.18 better than the S&P Capital IQ Consensus of $0.82; revenues rose 31.6% year/year to $1.01 bln vs the $0.99 bln S&P Capital IQ Consensus.
For the third quarter of 2021, the Company anticipates delivering between 1,450 and 1,550 homes at an average sales price between $620,000 and $630,000. The Company expects its homebuilding gross margin percentage will be in the range of 23.5% to 24.5% for the third quarter of 2021 and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 9.5% to 10.0%. Lastly, the Company expects its effective tax rate for the third quarter of 2021 will be approximately 25.0%.
For the full year, the Company expects to open approximately 70 new communities and end the year with between 120 and 130 active selling communities. In addition, the Company anticipates delivering between 6,000 and 6,300 homes at an average sales price between $625,000 and $635,000. The Company expects homebuilding gross margin percentage to be in the range of 23.5% to 24.5% for the full year and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 9.8% to 10.3%. Finally, the Company expects its effective tax rate for the full year to be approximately 25%.
