Tri Pointe Homes, Inc. (the “Company”) (NYSE:TPH) today announced
that its Board of Directors has approved a new stock repurchase
program authorizing the repurchase of up to $250 million of common
stock through December 31, 2025 (the “Repurchase Program”), which
succeeds the stock repurchase program that the Board of Directors
authorized in December 2023 (the “2024 Repurchase Program”). For
the fourth quarter through December 17, 2024, under the 2024
Repurchase Program, the Company repurchased 1,202,913 shares of
common stock at a weighted average price per share of $41.57 for an
aggregate dollar amount of $50.0 million. For the full year through
December 17, 2024, under the 2024 Repurchase Program, the Company
repurchased 3,964,537 shares of common stock at a weighted average
price per share of $36.97 for an aggregate dollar amount of $146.6
million.
Purchases of common stock pursuant to the
Repurchase Program may be made in open market transactions effected
through a broker-dealer at prevailing market prices, in block
trades, or by other means in accordance with federal securities
laws, including pursuant to any trading plan that may be adopted in
accordance with Rule 10b5-1 under the Securities Exchange Act of
1934, as amended. The Company is not obligated under the Repurchase
Program to repurchase any specific number or dollar amount of
shares of common stock, and it may modify, suspend, or discontinue
the Repurchase Program at any time. Company management will
determine the timing and amount of any repurchases in its
discretion based on a variety of factors, such as the market price
of the Company’s common stock, corporate requirements, general
market economic conditions, legal requirements, and applicable tax
effects.
About Tri Pointe Homes®
One of the largest homebuilders in the U.S., Tri
Pointe Homes, Inc. (NYSE: TPH) is a publicly traded company
operating in 12 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. Tri
Pointe has won multiple Builder of the Year awards, was named to
the 2024 Fortune World’s Most Admired Companies™ list, is one of
the 2023 Fortune 100 Best Companies to Work For® and was designated
as one of the PEOPLE Companies That Care® in 2023 and 2024. The
company was also named as a Great Place To Work-Certified™ company
for four years in a row (2021 through 2024), and was named on
several Great Place to Work® Best Workplaces lists (2022 through
2024). 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,” “believe,” “could,” “estimate,”
“expect,” “future,” “goal,” “guidance,” “intend,” “likely,” “may,”
“might,” “outlook,” “plan,” “potential,” “predict,” “project,”
“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 disease, 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; 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
Media Contact:Carol Ruiz,
cruiz@newgroundco.com, 310-437-0045
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