Tri Pointe Homes reported first-quarter 2026 net income available to common stockholders of $6.8 million, down from $64.0 million a year earlier, with diluted earnings per share falling to $0.08 from $0.70.
Home sales revenue dropped to $506.5 million from $720.8 million in the first quarter of 2025, as home deliveries declined to 736 homes from 1,040. The average sales price of homes delivered edged down to $688,000 from $693,000.
Homebuilding gross margin narrowed to 18.8% from 23.9%. SG&A expense rose to 17.9% of home sales revenue from 14.0% a year ago.
Net new home orders were essentially flat at 1,234, compared with 1,238 in the prior-year quarter, while active selling communities increased to 158.0 from 145.5. Orders per average selling community slipped to 7.8 from 8.5, and the cancellation rate improved slightly to 9% from 10%.
Backlog at quarter-end fell to 1,360 homes from 1,715, and the dollar value of backlog declined to $989.9 million from about $1.3 billion. The average sales price of homes in backlog decreased to $728,000 from $763,000.
The company ended the quarter with total liquidity of $1.7 billion, including $847.9 million in cash and cash equivalents and $827.5 million available under its revolving credit facility. As a result of these announcements, the company's shares have moved 0.02% on the market, and are now trading at a price of $46.90. For the full picture, make sure to review Tri Pointe Homes's 8-K report.
