Tri Pointe Homes Inc down 3.20% to $18.78 after earnings beat

Tri Pointe Homes Inc (TPH) said before opening Thursday that it earned $1.33 per share in the second quarter of 2022.

As for revenue, the company reported $1 billion, beating estimates of $7.7 million.

In the same quarter a year ago, the company earned $1 a share on revenue of $1 billion.

The stock is down 3.20% at $18.78 after the report.

Although Tri Pointe Homes Inc reported a decline in revenue, profits rose, signaling an increase in profit margins.

Wall Street analysts had an average buy rating on the stock ahead of the report.

InvestorsObserver gives the stock a bullish sentiment score at the moment based on recent trades.

Before the report InvestorsObserver gave the stock an overall rating of 55. Meanwhile, the average Wall Street analyst rated the stock as a buy.

Tri Pointe Homes Inc is an American construction company that focuses on residential construction. The company designs and builds single-family homes and condominiums across its portfolio of six regional housing brands. Its largest regional brands include Maracay Homes, which operates in Arizona, and TRI Pointe and Pardee Homes, which operate in California, Nevada and Colorado. Geographically, California is TRI Pointe’s largest source of revenue, followed by Arizona and Nevada. The company also operates in Texas, Oregon and Virginia. TRI Pointe completes approximately 4,000 homes per year with an average sale price of approximately $500,000. TRI Pointe is also involved in the sale and development of land.

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