INCLINE VILLAGE, Nev., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Tri Pointe Homes, Inc. (the "Company") today announced results for the second quarter ended June 30, 2026.

Results and Operational Data for Second Quarter 2026 and Comparisons to Second Quarter 2025

Home sales revenue of $685.1 million compared to $879.8 million
- New home deliveries of 1,013 homes compared to 1,326 homes
- Average sales price of homes delivered of $676,000 compared to $664,000
Homebuilding gross margin percentage of 18.0% compared to 20.8%. Excluding inventory-related charges of $19.7 million, our homebuilding gross margin percentage was 20.8%*.
- Excluding interest and impairments and lot option abandonments, adjusted homebuilding gross margin percentage was 24.0%*
SG&A expense as a percentage of home sales revenue of 32.5% compared to 12.6%. Excluding $122.1 million of compensation-related charges associated with the Sumitomo Forestry transaction, SG&A expense as a percentage of home sales revenue was 14.7%*.
Loss before income taxes was $165.3 million compared to income before income taxes of $84.4 million. Results included $196.8 million of charges associated with the Sumitomo Forestry transaction and $19.7 million of inventory-related impairment charges. Excluding these items, adjusted income before income taxes was $51.2 million* compared to $84.4 million.
Net new home orders of 1,147 compared to 1,131
Active selling communities averaged 164.3 compared to 149.8
- Net new home orders per average selling community were 7.0 orders (2.3 monthly) compared to 7.6 orders (2.5 monthly)
- Cancellation rate of 11% compared to 13%
Backlog units at quarter end of 1,494 homes compared to 1,520
- Dollar value of backlog at quarter end of $1.1 billion compared to $1.2 billion
- Average sales price of homes in backlog at quarter end of $713,000 compared to $776,000
Ratios of homebuilding debt-to-capital and net homebuilding debt-to-net capital of 25.9% and 16.9%*, respectively, as of June 30, 2026
Ended the second quarter of 2026 with total liquidity of $1.3 billion, including cash and cash equivalents of $462.1 million and $821.0 million of availability under our revolving credit facility

* See "Reconciliation of Non-GAAP Financial Measures"

About Tri Pointe Homes, Inc.

One of the largest homebuilders in the U.S., Tri Pointe Homes, Inc. has a presence in 13 states and the District of Columbia, and is a recognized leader in customer experience, innovative design, and environmentally responsible business practices. The company builds premium homes and communities with deep ties to the communities it serves—some for as long as a century. Tri Pointe Homes combines the financial resources, technology platforms and proven leadership of a national organization with the regional insights, longstanding community connections and agility of empowered local teams. The company is one of the 2026 Fortune World’s Most Admired Companies, 2026 Fortune 100 Best Companies to Work For®, and recognized as a PEOPLE Companies That Care® (2023–2026) organization. The company was also named as a Great Place To Work-Certified™ company for five years in a row and named on several Great Place To Work® Best Workplaces lists. Tri Pointe has also won multiple Builder of the Year and Developer of the Year awards. For more information, please visit TriPointeHomes.com.

Forward-Looking Statements

Various statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may include, but are not limited to, statements regarding our strategy, projections and estimates concerning the timing and success of specific projects and our future production, land and lot sales, operational and financial results, including our estimates for growth, financial condition, sales prices, prospects, and capital spending. Forward-looking statements that are included in this press release are generally accompanied by words such as "anticipate," "assuming," "believe," "contemplate," "could," "estimate," "expect," "forecast," "future," "goal," "guidance," "intend," "likely," "may," "might," "outlook," "plan," "potential," "predict," "project," "projection," "should," "strategy," "target," "will," "would," or other words that convey future events or outcomes. The forward-looking statements in this press release speak only as of the date of this press release, and we disclaim any obligation to update these statements unless required by law, and we caution you not to rely on them unduly. These forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. The following factors, among others, may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements: the effects of general economic conditions, including employment rates, housing starts, interest rate levels, home affordability, inflation, consumer sentiment, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such parcels; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the successful execution of our internal performance plans, including restructuring and cost reduction initiatives; the prices and availability of supply chain inputs, including raw materials, labor and home components; oil and other energy prices; the effects of U.S. trade policies, including the imposition of tariffs and duties on homebuilding products and retaliatory measures taken by other countries; the effects of weather, including the occurrence of drought conditions in parts of the western United States; the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, and shortages and price increases in labor or materials associated with such natural disasters; the risk of loss from acts of war, terrorism, civil unrest or public health emergencies, including outbreaks of contagious diseases, such as COVID-19; transportation costs; federal and state tax policies; the effects of land use, environment and other governmental laws and regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness, financial condition, losses and future prospects; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our homebuyers’ confidential information or other forms of cyber-attack; risks associated with the Company’s integration into the Sumitomo Forestry Group, including purchase accounting, financing, systems, controls, reporting processes, and the realization of anticipated benefits from the Merger; and additional factors discussed under the sections captioned "Risk Factors" included in our annual and quarterly reports filed with the Securities and Exchange Commission. The foregoing list is not exhaustive. New risk factors may emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risk factors on our business.

Investor Relations Contact:

InvestorRelations@TriPointeHomes.com, 949-478-8696


KEY OPERATIONS AND FINANCIAL DATA (dollars in thousands) (unaudited)

	Three Months Ended June 30,											Six Months Ended June 30,
	2026			2025			Change			% Change		2026			2025			Change			% Change
Operating Data:	(unaudited)
Home sales revenue	$	685,118		$	879,832		$	(194,714	)	(22.1	)%	$	1,191,614		$	1,600,618		$	(409,004	)	(25.6	)%
Homebuilding gross margin	$	123,096		$	183,202		$	(60,106	)	(32.8	)%	$	218,526		$	355,715		$	(137,189	)	(38.6	)%
Homebuilding gross margin %		18.0	%		20.8	%	(2.8		)%				18.3	%		22.2	%	(3.9		)%
Adjusted homebuilding gross margin %*		24.0	%		25.2	%	(1.2		)%				23.3	%		26.1	%	(2.8		)%
SG&A expense	$	222,538		$	110,974		$	111,564		100.5	%	$	313,384		$	211,591		$	101,793		48.1	%
SG&A expense as a % of home sales revenue		32.5	%		12.6	%		19.9	%				26.3	%		13.2	%		13.1	%
(Loss) income before income taxes	$	(165,332	)	$	84,350		$	(249,682	)	(296.0	)%	$	(158,441	)	$	170,860		$	(329,301	)	(192.7	)%
Adjusted EBITDA*	$	83,068		$	139,322		$	(56,254	)	(40.4	)%	$	122,925		$	265,020		$	(142,095	)	(53.6	)%
Interest incurred	$	18,326		$	20,374		$	(2,048	)	(10.1	)%	$	36,911		$	41,693		$	(4,782	)	(11.5	)%
Interest in cost of home sales	$	21,263		$	25,578		$	(4,315	)	(16.9	)%	$	37,733		$	48,613		$	(10,880	)	(22.4	)%

Other Data:
Net new home orders		1,147			1,131			16		1.4	%		2,381			2,369			12		0.5	%
New homes delivered		1,013			1,326			(313	)	(23.6	)%		1,749			2,366			(617	)	(26.1	)%
Cancellation rate		11	%		13	%	(2		)%				10	%		12	%		(2	)%
Average selling price of homes delivered	$	676		$	664		$	12		1.8	%	$	681		$	677		$	4		0.6	%
Average selling communities		164.3			149.8			14.5		9.7	%		161.1			147.7			13.4		9.1	%
Selling communities at end of period		169			151			18		11.9	%
Backlog (estimated dollar value)	$	1,064,633		$	1,179,715		$	(115,082	)	(9.8	)%
Backlog (homes)		1,494			1,520			(26	)	(1.7	)%
Average selling price in backlog	$	713		$	776		$	(63	)	(8.1	)%

	June 30,			December 31,
	2026			2025			Change			% Change
Balance Sheet Data:	(unaudited)
Cash and cash equivalents	$	462,085		$	982,814		$	(520,729	)	(53.0	)%
Real estate inventories	$	3,436,045		$	3,178,248		$	257,797		8.1	%
Lots owned or controlled		33,271			32,219			1,052		3.3	%
Homes under construction⁽¹⁾		2,514			1,392			1,122		80.6	%
Homes completed, unsold		343			681			(338	)	(49.6	)%
Total homebuilding debt	$	1,098,735		$	1,104,054		$	(5,319	)	(0.5	)%
Stockholders’ equity	$	3,140,839		$	3,315,834		$	(174,995	)	(5.3	)%
Book capitalization	$	4,239,574		$	4,419,888		$	(180,314	)	(4.1	)%
Ratio of homebuilding debt-to-capital		25.9	%		25.0	%		0.9	%
Ratio of net homebuilding debt-to-net capital*		16.9	%		3.5	%		13.4	%

__________

⁽¹⁾Homes under construction included 39 and 48 models as of June 30, 2026 and December 31, 2025, respectively.

* See "Reconciliation of Non-GAAP Financial Measures"


CONSOLIDATED BALANCE SHEETS (dollars in thousands)

	June 30,		December 31,
	2026		2025
Assets	(unaudited)
Cash and cash equivalents	$	462,085	$	982,814
Receivables		175,514		147,250
Real estate inventories		3,436,045		3,178,248
Investments in unconsolidated entities		245,695		183,075
Mortgage loans held for sale		86,881		98,514
Goodwill and other intangible assets, net		156,603		156,603
Deferred tax assets, net		43,132		43,132
Other assets		211,811		187,899
Total assets	$	4,817,766	$	4,977,535

Liabilities
Accounts payable	$	79,848	$	41,693
Accrued expenses and other liabilities		420,675		425,289
Loans payable		450,600		456,468
Senior notes		648,135		647,586
Mortgage repurchase facilities		77,459		90,570
Total liabilities		1,676,717		1,661,606

Commitments and contingencies

Equity
Stockholders’ equity:
Common stock, $0.01 par value, 100 and 500,000,000 shares authorized and 100 and 84,478,836 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively		—		844
Additional paid-in capital		—		—
Retained earnings		3,140,839		3,314,990
Total stockholders’ equity		3,140,839		3,315,834
Noncontrolling interests		210		95
Total equity		3,141,049		3,315,929
Total liabilities and equity	$	4,817,766	$	4,977,535


CONSOLIDATED STATEMENT OF OPERATIONS (dollars in thousands) (unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Homebuilding:
Home sales revenue	$	685,118		$	879,832		$	1,191,614		$	1,600,618
Land and lot sales revenue		23			3,364			598			5,185
Other operations revenue		825			814			1,650			1,634
Total revenues		685,966			884,010			1,193,862			1,607,437
Cost of home sales		562,022			696,630			973,088			1,244,903
Cost of land and lot sales		205			3,253			1,184			4,994
Other operations expense		812			793			1,625			1,587
Sales and marketing		45,333			50,171			83,220			93,113
General and administrative		177,205			60,803			230,164			118,478
Homebuilding (loss) income from operations		(99,611	)		72,360			(95,419	)		144,362
Equity in (loss) income of unconsolidated entities		(24	)		471			(112	)		966
Transaction expense		(73,779	)		—			(79,656	)		—
Other income, net		5,652			7,174			12,888			16,303
Homebuilding (loss) income before income taxes		(167,762	)		80,005			(162,299	)		161,631
Financial Services:
Revenues		16,106			18,403			29,599			35,904
Expenses		13,676			14,058			25,741			26,675
Financial services income before income taxes		2,430			4,345			3,858			9,229
(Loss) income before income taxes		(165,332	)		84,350			(158,441	)		170,860
Benefit (provision) for income taxes		7,646			(23,640	)		7,565			(46,133	)
Net (loss) income		(157,686	)		60,710			(150,876	)		124,727
Net (income) loss attributable to noncontrolling interests		(12	)		38			(36	)		57
Net (loss) income available to common stockholders	$	(157,698	)	$	60,748		$	(150,912	)	$	124,784


MARKET DATA BY REPORTING SEGMENT & GEOGRAPHY (dollars in thousands) (unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
	New Homes Delivered	Average Sales Price		New Homes Delivered	Average Sales Price		New Homes Delivered	Average Sales Price		New Homes Delivered	Average Sales Price
West	458	$	795	640	$	735	800	$	788	1,161	$	750
Central	376		550	481		546	650		556	858		551
East	179		637	205		717	299		670	347		740
Total	1,013	$	676	1,326	$	664	1,749	$	681	2,366	$	677

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
	Net New Home Orders	Average Selling Communities		Net New Home Orders	Average Selling Communities		Net New Home Orders	Average Selling Communities		Net New Home Orders	Average Selling Communities
West	556		74.8	523		68.8	1,161		73.3	1,167		67.8
Central	426		65.0	423		61.0	862		63.5	836		60.6
East	165		24.5	185		20.0	358		24.3	366		19.3
Total	1,147		164.3	1,131		149.8	2,381		161.1	2,369		147.7

	As of June 30, 2026					As of June 30, 2025
	Backlog Units	Backlog Dollar Value		Average Sales Price		Backlog Units	Backlog Dollar Value		Average Sales Price
West	785	$	629,058	$	801	813	$	682,250	$	839
Central	472		282,083		598	450		271,975		604
East	237		153,492		648	257		225,490		877
Total	1,494	$	1,064,633	$	713	1,520	$	1,179,715	$	776

	As of June 30, 2026					As of December 31, 2025
	Lots Owned	Lots Controlled (1)		Lots Owned or Controlled		Lots Owned	Lots Controlled (1)		Lots Owned or Controlled
West	9,086		3,498		12,584	8,629		3,864		12,493
Central	5,203		8,397		13,600	5,188		8,017		13,205
East	1,992		5,095		7,087	2,137		4,384		6,521
Total	16,281		16,990		33,271	15,954		16,265		32,219

⁽¹⁾As of June 30, 2026 and December 31, 2025, lots controlled included lots that were under land option contracts or purchase contracts. As of June 30, 2026 and December 31, 2025, lots controlled for West include 275 and zero, respectively, and for Central include 5,607 and 5,356, respectively, which represent our expected share of lots owned by our investments in unconsolidated land development joint ventures.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(unaudited)

In this press release, we utilize certain financial measures that are non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they and similar measures are useful to management and investors in evaluating the Company’s operating performance and financing structure. We also believe these measures facilitate the comparison of our operating performance and financing structure with other companies in our industry. Because these measures are not calculated in accordance with Generally Accepted Accounting Principles ("GAAP"), they may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.

The following table reconciles the homebuilding gross margin percentage, as reported and prepared in accordance with GAAP, to the non-GAAP measure adjusted homebuilding gross margin percentage. We believe this information is meaningful as it isolates the impact that leverage has on homebuilding gross margin and permits investors to make better comparisons with our competitors, who adjust gross margins in a similar fashion.


	Three Months Ended June 30,
	2026			%		2025			%
	(dollars in thousands)
Home sales revenue	$	685,118		100.0	%	$	879,832		100.0	%
Cost of home sales		562,022		82.0	%		696,630		79.2	%
Homebuilding gross margin		123,096		18.0	%		183,202		20.8	%
Add: interest in cost of home sales		21,263		3.1	%		25,578		2.9	%
Add: impairments and lot option abandonments		19,734		2.9	%		13,096		1.5	%
Adjusted homebuilding gross margin	$	164,093		24.0	%	$	221,876		25.2	%
Homebuilding gross margin percentage		18.0	%				20.8	%
Adjusted homebuilding gross margin percentage		24.0	%				25.2	%

	Six Months Ended June 30,
	2026			%		2025			%
	(dollars in thousands)
Home sales revenue	$	1,191,614		100.0	%	$	1,600,618		100.0	%
Cost of home sales		973,088		81.7	%		1,244,903		77.8	%
Homebuilding gross margin		218,526		18.3	%		355,715		22.2	%
Add: interest in cost of home sales		37,733		3.2	%		48,613		3.0	%
Add: impairments and lot option abandonments		20,802		1.7	%		14,169		0.9	%
Adjusted homebuilding gross margin	$	277,061		23.3	%	$	418,497		26.1	%
Homebuilding gross margin percentage		18.3	%				22.2	%
Adjusted homebuilding gross margin percentage		23.3	%				26.1	%

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued)

(dollars in thousands)

(unaudited)

The following table reconciles the Company’s ratio of homebuilding debt-to-capital to the non-GAAP ratio of net homebuilding debt-to-net capital. We believe that the ratio of net homebuilding debt-to-net capital is a relevant financial measure for management and investors to understand the leverage employed in our operations and as an indicator of the Company’s ability to obtain financing.


	June 30, 2026			December 31, 2025
Loans payable	$	450,600		$	456,468
Senior notes		648,135			647,586
Mortgage repurchase facilities		77,459			90,570
Total debt		1,176,194			1,194,624
Less: mortgage repurchase facilities		(77,459	)		(90,570	)
Total homebuilding debt		1,098,735			1,104,054
Stockholders’ equity		3,140,839			3,315,834
Total capital	$	4,239,574		$	4,419,888
Ratio of homebuilding debt-to-capital(1)		25.9	%		25.0	%

Total homebuilding debt	$	1,098,735		$	1,104,054
Less: Cash and cash equivalents		(462,085	)		(982,814	)
Net homebuilding debt		636,650			121,240
Stockholders’ equity		3,140,839			3,315,834
Net capital	$	3,777,489		$	3,437,074
Ratio of net homebuilding debt-to-net capital(2)		16.9	%		3.5	%

__________

⁽¹⁾The ratio of homebuilding debt-to-capital is computed as the quotient obtained by dividing total homebuilding debt by the sum of total homebuilding debt plus stockholders’ equity.

⁽²⁾The ratio of net homebuilding debt-to-net capital is computed as the quotient obtained by dividing net homebuilding debt (which is total homebuilding debt less cash and cash equivalents) by the sum of net homebuilding debt plus stockholders’ equity.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued)

(dollars in thousands)

(unaudited)

The following tables present certain non-GAAP financial measures reflecting adjustments for inventory-related impairment charges and costs associated with the Sumitomo Forestry transaction, including transaction-related compensation costs and professional fees. We believe reflecting these adjustments is useful to investors in understanding our recurring operations by eliminating the effects of certain non-routine events, and may be helpful in comparing the Company to other homebuilders to the extent they provide similar information.


	Three Months Ended June 30, 2026										Six Months Ended June 30, 2026
Gross Margin Reconciliation	As Reported			Adjustments				Adjusted			As Reported			Adjustments				Adjusted
Home sales revenue	$	685,118		$	—			$	685,118		$	1,191,614		$	—			$	1,191,614
Cost of home sales		562,022			(19,734	)			542,288			973,088			(20,802	)			952,286
Homebuilding gross margin	$	123,096		$	19,734			$	142,830		$	218,526		$	20,802			$	239,328
Homebuilding gross margin percentage		18.0	%						20.8	%		18.3	%						20.1	%

	Three Months Ended June 30, 2026										Six Months Ended June 30, 2026
SG&A Reconciliation	As Reported			Adjustments				Adjusted			As Reported			Adjustments				Adjusted
Sales and marketing	$	45,333		$	—			$	45,333		$	83,220		$	—			$	83,220
General and administrative (G&A)		177,205			(122,112	)	(1)		55,093			230,164			(122,112	)	(1)		108,052
Total sales and marketing and G&A	$	222,538		$	(122,112	)		$	100,426		$	313,384		$	(122,112	)		$	191,272
As a percentage of home sales revenue		32.5	%						14.7	%		26.3	%						16.1	%

(Loss) Income Before Income Taxes Reconciliation	Three Months Ended June 30, 2026				Six Months Ended June 30, 2026
(Loss) income before income taxes (as reported)	$	(165,332	)		$	(158,441	)
Add: inventory impairment charges and land and lot option abandonments and pre-acquisition charges included in cost of home sales		19,734				20,802
Add: transaction-related expenses included in G&A		122,112		(1)		122,112		(1)
Add: transaction-related expenses included in financial services		907		(1)		907		(1)
Add: transaction-related expenses included in other expense, net		73,779		(2)		79,656		(2)
Adjusted income before income taxes	$	51,200			$	65,036

__________

⁽¹⁾Comprises costs incurred due to accelerated RSU vestings and other compensation costs incurred in connection with the Sumitomo Forestry transaction.

⁽²⁾Comprises investment banking, legal, advisory, and other professional fees incurred in connection with the Sumitomo Forestry transaction.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued)

(unaudited)

The following table calculates the non-GAAP financial measures of EBITDA and Adjusted EBITDA and reconciles those amounts to net income available to common stockholders, as reported and prepared in accordance with GAAP. EBITDA means net income available to common stockholders before (a) interest expense, (b) expensing of previously capitalized interest included in costs of home sales, (c) income taxes and (d) depreciation and amortization. Adjusted EBITDA means EBITDA before (e) amortization of stock-based compensation, (f) impairments and lot option abandonments, (g) Sumitomo Forestry transaction-related expenses included in general and administrative expenses, (h) Sumitomo Forestry transaction-related expenses included in financial services, and (i) other transaction expenses incurred in connection with the Sumitomo Forestry transaction. Other companies may calculate EBITDA and Adjusted EBITDA (or similarly titled measures) differently. We believe EBITDA and Adjusted EBITDA are useful measures of the Company’s ability to service debt and obtain financing.

	Three Months Ended June 30,							Six Months Ended June 30,
	2026				2025			2026				2025
	(in thousands)
Net (loss) income available to common stockholders	$	(157,698	)		$	60,748		$	(150,912	)		$	124,784
Interest expense:
Interest incurred		18,326				20,374			36,911				41,693
Interest capitalized		(18,326	)			(20,374	)		(36,911	)			(41,693	)
Amortization of interest in cost of sales		21,263				25,578			37,733				48,731
Provision for income taxes		(7,646	)			23,640			(7,565	)			46,133
Depreciation and amortization		7,585				7,657			15,203				15,044
EBITDA		(136,496	)			117,623			(105,541	)			234,692
Amortization of stock-based compensation		3,032				8,603			4,989				16,159
Impairments and lot option abandonments		19,734				13,096			20,802				14,169
Transaction-related expenses included in G&A		122,112		(1)		—			122,112		(1)		—
Transaction-related expenses included in financial services		907		(1)		—			907		(1)		—
Transaction expenses		73,779		(2)		—			79,656		(2)		—
Adjusted EBITDA	$	83,068			$	139,322		$	122,925			$	265,020