PART I. FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The unaudited consolidated financial statements show a decline in assets, revenue, and net income for the period [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased to $4.80 billion, driven by a significant reduction in cash and cash equivalents Balance Sheet Summary | Balance Sheet Item | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $622,642 | $970,045 | | Real estate inventories | $3,301,302 | $3,153,459 | | Total assets | $4,797,842 | $4,891,115 | | **Liabilities & Equity** | | | | Total liabilities | $1,507,748 | $1,555,393 | | Total stockholders' equity | $3,289,961 | $3,335,710 | | Total liabilities and equity | $4,797,842 | $4,891,115 | - Cash and cash equivalents decreased by approximately **36%** from **$970.0 million** at the end of 2024 to **$622.6 million** as of June 30, 2025[13](index=13&type=chunk) - Real estate inventories increased from **$3.15 billion** to **$3.30 billion** during the first six months of 2025[13](index=13&type=chunk) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) The company reported a significant year-over-year decline in revenue and net income for Q2 and YTD 2025 Operations Summary | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YTD 2025 (in thousands) | YTD 2024 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Home sales revenue | $879,832 | $1,133,008 | $1,600,618 | $2,051,361 | | Total revenues | $884,010 | $1,137,950 | $1,607,437 | $2,064,158 | | Income before income taxes | $84,350 | $159,229 | $170,860 | $289,809 | | Net income available to common stockholders | $60,748 | $118,002 | $124,784 | $217,057 | | Diluted EPS | $0.68 | $1.25 | $1.38 | $2.28 | [Consolidated Statements of Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Equity) Stockholders' equity decreased to $3.29 billion, impacted by net income and significant share repurchases - For the six months ended June 30, 2025, the company recorded net income of **$124.7 million** and repurchased shares for a total cost of **$176.7 million**[18](index=18&type=chunk) - The number of common shares outstanding decreased from **92,451,729** at December 31, 2024, to **87,506,511** at June 30, 2025, primarily due to share repurchases[18](index=18&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was $105.4 million, a reversal from cash provided in the prior-year period Cash Flow Summary (Six Months Ended June 30) | Cash Flow Activity | 2025 (in thousands) | 2024 (in thousands) | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(105,416) | $167,894 | | Net cash used in investing activities | $(39,549) | $(15,410) | | Net cash used in financing activities | $(202,438) | $(528,497) | | **Net decrease in cash and cash equivalents** | **$(347,403)** | **$(376,013)** | - Share repurchases (excluding excise tax) amounted to **$175.1 million** in the first six months of 2025, compared to **$86.7 million** in the prior-year period[21](index=21&type=chunk) [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail segment information, inventory impairments, debt structure, and stock compensation plans - The company operates in two principal businesses: **homebuilding** and **financial services**, with homebuilding further divided into West, Central, and East segments[41](index=41&type=chunk)[42](index=42&type=chunk) - A real estate inventory impairment charge of **$11.0 million** was recorded in Q2 2025 related to one active community in the West reporting segment[54](index=54&type=chunk) - As of June 30, 2025, the company had **$647.1 million** in senior notes and **$262.9 million** in loans payable outstanding[75](index=75&type=chunk)[79](index=79&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=30&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses challenging market conditions, declining operational results, and long-term positive fundamentals [Overview and Outlook](index=31&type=section&id=Overview%20and%20Outlook) Q2 2025 market softness led to a 22% revenue decline, though long-term demand drivers remain intact - The U.S. housing market in Q2 2025 was challenged by **policy uncertainty**, leading to greater price sensitivity and a more measured approach from homebuyers[136](index=136&type=chunk) - Long-term housing demand fundamentals remain strong, supported by **Millennial and Gen Z demographics** and a persistent undersupply of housing[137](index=137&type=chunk) Q2 2025 Key Metrics | Metric | Value | YoY Change | | :--- | :--- | :--- | | Home Sales Revenue | $879.8 million | -22% | | Net Income | $60.7 million | -49% | | Diluted EPS | $0.68 | -46% | | New Home Deliveries | 1,326 | - | | Net New Home Orders | 1,131 | - | [Results of Operations](index=32&type=section&id=Results%20of%20Operations) Operational metrics, including new orders, backlog, and gross margins, declined year-over-year - Net new home orders for Q2 2025 decreased **31% YoY** to 1,131, driven by a **30%** decrease in monthly absorption rates[142](index=142&type=chunk) - Backlog as of June 30, 2025, was down **44%** in units to 1,520 and **41%** in dollar value to **$1.2 billion** compared to the prior year[146](index=146&type=chunk) - Q2 2025 homebuilding gross margin percentage fell to **20.8%** from 23.6% in Q2 2024, primarily due to an **$11.0 million** land impairment charge and higher incentives[151](index=151&type=chunk) - For the six months ended June 30, 2025, home sales revenue decreased **22%** to **$1.6 billion**, and homebuilding gross margin percentage decreased to **22.2%** from 23.3% YoY[163](index=163&type=chunk)[167](index=167&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity of $1.4 billion while actively repurchasing shares - Total liquidity as of June 30, 2025, was **$1.4 billion**, consisting of **$622.6 million** in cash and **$785.7 million** of availability under the Credit Facility[178](index=178&type=chunk) - In April 2025, the company amended its credit agreement, increasing the revolving facility from $750 million to **$850 million** and extending its maturity to April 2030[185](index=185&type=chunk) - During the six months ended June 30, 2025, the company repurchased **5,458,694 shares** of common stock for **$175.0 million**[191](index=191&type=chunk) Leverage Ratios | Ratio | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Ratio of homebuilding debt-to-capital | 21.7% | 21.6% | | Ratio of net homebuilding debt-to-net capital | 8.0% | (1.6)% | [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuations on its debt, with no derivatives used for hedging - The primary market risk exposure is related to **interest rate fluctuations** on outstanding debt[206](index=206&type=chunk) - The company did not utilize any **derivative financial instruments** for hedging or speculative purposes during the six months ended June 30, 2025[206](index=206&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material internal control changes - The Principal Executive Officer and Principal Financial Officer concluded that the company's **disclosure controls and procedures were effective** as of the end of the period[207](index=207&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's **internal control over financial reporting**[208](index=208&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course lawsuits and claims but held zero legal reserves as of June 30, 2025 - Details on legal matters are referenced in **Note 13, Commitments and Contingencies**[210](index=210&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the company's 2024 Annual Report on Form 10-K - No material changes to risk factors were reported since the last **Annual Report on Form 10-K** and subsequent quarterly report[211](index=211&type=chunk) [Issuer Purchases of Equity Securities](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company repurchased $100.0 million of shares in Q2 2025 and increased its repurchase authorization in July - In Q2 2025, the company repurchased **3,187,982 shares** of its common stock for **$100.0 million** at an average price of **$31.37** per share[212](index=212&type=chunk)[213](index=213&type=chunk) - On July 23, 2025, the board of directors increased the total share repurchase authorization from $250 million to **$300 million**[213](index=213&type=chunk) [Other Information](index=48&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated any Rule 10b5-1 trading arrangements during the quarter - No directors or officers adopted or terminated **Rule 10b5-1 trading plans** during the second quarter of 2025[214](index=214&type=chunk) [Exhibits](index=49&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including a credit facility modification and required CEO/CFO certifications - Key exhibits filed include the **Fifth Modification Agreement** to the company's credit facility and **CEO/CFO certifications** under Sarbanes-Oxley Sections 302 and 906[215](index=215&type=chunk)

Core Viewpoint - Tri Pointe Homes, Inc. reported its financial results for the second quarter of 2025 during an earnings conference call, highlighting key performance metrics and future outlook [3]. Financial Results - The company released its financial results for Q2 2025, which are detailed in documents available on its website [3]. - The earnings call included discussions on future financial and operational performance, which are considered forward-looking statements [3]. Participants - The earnings call featured various company participants, including the CEO, CFO, and other executives, as well as analysts from different research firms [1].

Financial Data and Key Metrics Changes - In Q2 2025, the company delivered 1,326 homes at an average sales price of $664,000, generating $880 million in home sales revenue [5][12] - Adjusted net income was $69 million or $0.77 per diluted share, reflecting a stable financial performance despite market challenges [6][13] - Homebuilding gross margin, adjusted to exclude an inventory-related charge, was 22.1% [5][13] - The company ended the quarter with $1.4 billion in total liquidity, including $623 million in cash [7][16] Business Line Data and Key Metrics Changes - The company generated 1,131 net new home orders in the quarter, with a monthly absorption rate of 2.5 homes per average selling community [6][12] - The absorption pace varied by region, with the East showing a stronger pace of 3.1 homes per community per month, while the Central region had a pace of 2.3 [13][14] Market Data and Key Metrics Changes - The company noted that the Inland Empire, San Diego, and Seattle markets showed stronger demand, while Sacramento and Arizona experienced softer markets [13][14] - In the Central region, Austin, Dallas, and Denver showed softer demand due to increased supply of both new and resale homes [14] Company Strategy and Development Direction - The company is focusing on balancing pace and price on a community-by-community basis, moderating start pace to normalize spec inventory [6][10] - New market expansions in Utah, Florida, and the Coastal Carolinas are expected to contribute to meaningful growth over time [10] - The company plans to continue prioritizing price over pace to maintain margins and profitability [50][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the housing market, citing favorable demographics and a persistent supply-demand imbalance [19][88] - The near-term outlook remains challenging due to policy uncertainty and geopolitical tensions affecting buyer confidence [6][10] Other Important Information - The company returned $100 million to shareholders through share repurchases, reducing its share count by 3.5% in Q2 [8][9] - The company has a disciplined land investment strategy, focusing on opportunities that yield the strongest returns in core markets [8][10] Q&A Session Summary Question: Confidence in hitting fourth quarter volume guide - Management indicated confidence in hitting the implied fourth quarter volume guide, supported by sufficient move-in ready and spec homes [21][23] Question: Expectations for incentives and gross margin - Incentives were reported at 7.1% in Q2, with a slight increase expected in the back half of the year [25][26] Question: Details on the impairment charge - The $11 million impairment charge was related to a Bay Area project that failed the impairment test due to challenging market conditions [31][32] Question: Absorption trends throughout the quarter - Absorption started strong in April, peaked in May, and trended down in June, following seasonal patterns [38][39] Question: Strategic approach to pace and price - The company will continue to favor price over pace, citing consumer confidence as a key driver [49][50] Question: Current build time and improvement opportunities - The average build time is currently 115 working days, with ongoing initiatives to reduce cycle times [94][95]

Financial Data and Key Metrics Changes - In Q2 2025, the company delivered 1,326 homes at an average sales price of $664,000, generating $880 million in home sales revenue [4][12] - Adjusted net income was $69 million, or $0.77 per diluted share, reflecting a disciplined pricing strategy and cost control [5][13] - Homebuilding gross margin, adjusted to exclude an inventory-related charge, was 22.1% [4][13] - The company ended the quarter with $1.4 billion in total liquidity, including $623 million in cash [6][15] Business Line Data and Key Metrics Changes - The company generated 1,131 net new home orders in the quarter, with a monthly absorption rate of 2.5 homes per average selling community [5][12] - The absorption pace varied by region, with the East showing a stronger pace of 3.1 homes per community per month, while the Central region had a pace of 2.3 [14][15] Market Data and Key Metrics Changes - The company noted that several markets are experiencing rising housing inventory levels and a softer pricing environment, particularly in Sacramento and Arizona [5][14] - In contrast, the Inland Empire, San Diego, and Seattle markets showed stronger demand [14][61] Company Strategy and Development Direction - The company is focusing on balancing pace and price on a community-by-community basis, moderating its start pace to normalize spec inventory [6][10] - New market expansions in Utah, Florida, and the Coastal Carolinas are expected to contribute to meaningful growth over time [10] - The company plans to continue favoring price over pace, citing consumer confidence as a critical factor [49][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the housing market, driven by favorable demographics and a persistent supply-demand imbalance [19][20] - The near-term environment remains challenging due to policy uncertainty and geopolitical tensions affecting buyer confidence [5][10] Other Important Information - The company returned $100 million to shareholders through share repurchases, reducing its share count by 3.5% in Q2 [8][9] - The company has a disciplined land investment strategy, focusing on opportunities that yield the strongest returns in core markets [7][10] Q&A Session Summary Question: Confidence in hitting fourth-quarter volume guidance - Management indicated confidence in meeting the implied fourth-quarter volume guidance, stating they have sufficient move-in ready and spec homes [22][23] Question: Expectations for incentives and gross margin - Incentives were 7.1% in Q2 and are expected to trend slightly up, which is factored into the gross margin guidance [24][26] Question: Details on the impairment charge - The $11 million impairment charge was related to a challenging Bay Area project, with a watch list for projects with margins around 10% [30][31][32] Question: Absorption trends throughout the quarter - Absorption started strong in April, peaked in May, and trended down in June, following seasonal patterns [38] Question: Strategic approach to pace and price - The company will continue to favor price over pace, citing consumer confidence as a driving force [49][50] Question: Current build time and improvement opportunities - The average build time is currently 115 working days, with ongoing initiatives to reduce cycle times [92][93]

Second Quarter 2025 Performance - Orders decreased by 32% from 1,651 in 2Q24 to 1,131 in 2Q25[20] - Deliveries decreased by 22% from 1,700 in 2Q24 to 1,326 in 2Q25[20] - Home sales revenue decreased by 22% from $1,133 million in 2Q24 to $880 million in 2Q25[20] - Net income available to common stockholders decreased by 49% from $118 million in 2Q24 to $61 million in 2Q25[20] - Diluted EPS decreased by 46% from $1.25 in 2Q24 to $0.68 in 2Q25[20] Backlog and Active Communities - Backlog units decreased by 44% from 2,692 in 2Q24 to 1,520 in 2Q25[20] - Backlog dollar value decreased by 41% from $2 billion in 2Q24 to $1.2 billion in 2Q25[20] - Ending active selling communities decreased by 1% from 153 in 2Q24 to 151 in 2Q25[20] Financial Metrics - Homebuilding gross margin decreased by 280 bps to 20.8% in 2Q25[20] - Adjusted homebuilding gross margin decreased by 190 bps to 25.2% in 2Q25[20] - SG&A expense as a percentage of home sales revenue increased by 160 bps to 12.6% in 2Q25[20] Land Supply - Total lots owned or controlled as of June 30, 2025, were 34,025, with 16,523 owned (49%) and 17,502 controlled (51%)[62,72]

Exhibit 99.1 TRI POINTE HOMES, INC. REPORTS 2025 SECOND QUARTER RESULTS AND ANNOUNCES $50 MILLION INCREASE TO ITS STOCK REPURCHASE PROGRAM -New Home Deliveries of 1,326- -Home Sales Revenue of $879.8 Million- -Repurchased $100 Million of Common Stock- -Homebuilding Debt-to-Capital Ratio of 21.7%- -Increased Credit Facility to a Total of $850 Million and Extended Revolver Maturity to 2030- INCLINE VILLAGE, Nev., July 24, 2025 / Tri Pointe Homes, Inc. (the "Company") (NYSE:TPH) today announced results for the ...

Core Insights - Tri Pointe Homes, Inc. reported solid financial results for Q2 2025, achieving home sales revenue of $879.8 million and delivering 1,326 homes despite macroeconomic challenges [1][3][4]. Financial Performance - Home sales revenue decreased by 22.3% compared to Q2 2024, down from $1.1 billion to $879.8 million [4][14]. - New home deliveries fell to 1,326 homes from 1,700 homes year-over-year, a decline of 22% [4][25]. - The average sales price of homes delivered was $664,000, slightly down from $666,000 in the previous year [4][25]. - Net income available to common stockholders was $60.7 million, or $0.68 per diluted share, compared to $118.0 million, or $1.25 per diluted share in Q2 2024 [4][22]. - Adjusted net income, excluding an inventory-related charge, was $68.7 million, or $0.77 per diluted share [4][22]. Operational Metrics - Homebuilding gross margin percentage was 20.8%, down from 23.6% in Q2 2024; adjusted gross margin was 22.1% when excluding the inventory-related charge [4][15]. - The cancellation rate increased to 13% from 9% year-over-year [4][25]. - The backlog at the end of the quarter consisted of 1,520 homes valued at $1.2 billion, down from 2,692 homes valued at $2.0 billion in the previous year [4][25]. Capital Management - The company repurchased $100 million of common stock during the quarter and increased its stock repurchase program authorization to $300 million [1][8]. - Tri Pointe Homes ended the quarter with total liquidity of $1.4 billion, including cash and cash equivalents of $622.6 million [4][18]. Future Outlook - For Q3 2025, the company anticipates delivering between 1,000 and 1,100 homes at an average sales price between $675,000 and $685,000 [6]. - The full-year guidance includes delivering between 4,800 and 5,200 homes at an average sales price between $665,000 and $675,000 [7].

Core Viewpoint - Tri Pointe Homes (TPH) is expected to report a significant decline in quarterly earnings and revenues, indicating challenges in the homebuilding sector [1][4]. Financial Performance Estimates - Analysts predict TPH will post quarterly earnings of $0.66 per share, a decrease of 47.2% year-over-year [1]. - Revenue is forecasted at $790.57 million, reflecting a year-over-year decline of 30.2% [1]. - The consensus estimate for 'Total revenues- Homebuilding- Home sales revenue' is $790.56 million, also down 30.2% from the previous year [4]. - 'Total revenues- Financial Service' is expected to be $18.89 million, showing an increase of 11.3% year-over-year [4]. Key Operational Metrics - 'New homes delivered' is estimated at 1,154, down from 1,700 in the same quarter last year [5]. - 'Net new home orders' are projected at 1,316, compared to 1,651 in the previous year [5]. - 'Selling communities at end of period' is expected to remain at 153, unchanged from the same quarter last year [5]. Pricing and Backlog Insights - The 'Average sales price in backlog' is anticipated to reach $757.80, up from $743.00 in the same quarter last year [6]. - The 'Average sales price of homes delivered' is projected at $686.14, compared to $666.00 in the previous year [6]. - The estimated 'Backlog (estimated dollar value)' is $1.42 billion, down from $2.00 billion in the same quarter last year [7]. - 'Backlog (homes)' is expected to be 1,876, a decrease from 2,692 in the previous year [7]. Income Projections - 'Income before income taxes- Financial services' is forecasted at $5.76 million, down from $6.08 million in the same quarter last year [8]. - 'Income before income taxes- Homebuilding' is expected to be $74.45 million, significantly lower than $153.15 million reported in the previous year [8]. Market Performance - TPH shares have increased by 8.1% over the past month, outperforming the Zacks S&P 500 composite, which rose by 5.4% [8].

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Core Viewpoint - Tri Pointe Homes, Inc. will release its financial results for Q2 2025 on July 24, 2025, before market opening, followed by a conference call to discuss the results [1] Company Overview - Tri Pointe Homes is one of the largest homebuilders in the U.S., operating in 12 states and the District of Columbia, recognized for customer experience, innovative design, and environmentally responsible practices [4] - The company builds premium homes and communities with strong community ties, some lasting for over a century [4] - Tri Pointe Homes has received multiple awards, including Builder of the Year and Developer of the Year for 2024, and has been listed among Fortune's Most Admired Companies and Best Companies to Work For [4]