February 20, 2018 / 11:21 AM / 7 months ago

BRIEF-Tri Pointe Group Q4 Revenue Rose 46 Percent To $1.1 Bln

Feb 20 (Reuters) - Tri Pointe Group Inc:

* TRI POINTE GROUP, INC. REPORTS 2017 FOURTH QUARTER AND FULL YEAR RESULTS AND ANNOUNCES NEW STOCK REPURCHASE PROGRAM

* Q4 REVENUE ROSE 46 PERCENT TO $1.1 BILLION

* ‍BACKLOG UNITS AT QUARTER END OF 1,571 HOMES COMPARED TO 1,193, AN INCREASE OF 32%​

* QTRLY ‍HOME SALES REVENUE OF $1.1 BILLION COMPARED TO $770.7 MILLION, AN INCREASE OF 46%​

* QTRLY ‍NEW HOME DELIVERIES OF 1,757 HOMES COMPARED TO 1,427 HOMES, AN INCREASE OF 23%​

* ‍BOARD APPROVED NEW STOCK REPURCHASE PROGRAM AUTHORIZING REPURCHASE OF UP TO $100 MILLION OF CO COMMON STOCK THROUGH MARCH 31, 2019​

* ‍NEW HOME ORDERS INCREASED 17% TO 1,063 HOMES FOR Q4 OF 2017, AS COMPARED TO 909 HOMES FOR SAME PERIOD IN 2016​

* ‍FOR FULL YEAR 2018, COMPANY EXPECTS TO GROW AVERAGE SELLING COMMUNITIES BY 5% COMPARED TO 2017​

* ‍EXPECTS ITS HOMEBUILDING GROSS MARGIN PERCENTAGE FOR FULL YEAR 2018 TO BE IN RANGE OF 20.5% TO 21.5%​

* ‍FOR Q1 OF 2018, COMPANY EXPECTS TO OPEN 8 NEW COMMUNITIES AND CLOSE OUT OF 11 COMMUNITIES​

* ‍ANTICIPATES DELIVERING ABOUT 55% OF 1,571 HOMES IN BACKLOG AS OF DEC 31, 2017 AT AVERAGE SALES PRICE OF $630,000 TO $640,000​

* ‍ANTICIPATES ITS HOMEBUILDING GROSS MARGIN PERCENTAGE TO BE IN A RANGE OF 21.5% TO 22.5% FOR Q1 OF 2018​

* ‍EXPECTS ITS SG&A EXPENSE AS A PERCENTAGE OF HOME SALES REVENUE TO BE IN RANGE OF 13.0% TO 13.5% FOR Q1 OF 2018​

* Q4 EARNINGS PER SHARE VIEW $0.63, REVENUE VIEW $1.11 BILLION -- THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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