Q2 2025 Operating & Financial Results July 22, 2025 Forward-looking statements This presentation includes "forward-looking statements." These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to ma ...

Core Insights - LGI Homes, Inc. is launching a new phase at Atherstone in Angier, North Carolina, with a Grand Opening scheduled for July 26, 2025, featuring six new floor plans and limited-time discounts [1][2] Company Overview - LGI Homes is headquartered in The Woodlands, Texas, and operates in 36 markets across 21 states, having closed over 75,000 homes since its founding in 2003 [8] - The company has consistently delivered profitable financial results and has been recognized for its quality construction and customer service, including being named to Newsweek's list of the World's Most Trustworthy Companies [8] New Development Details - The new section at Atherstone includes six spacious layouts with three to four bedrooms and over 2,000 square feet of living space, starting from the low-$300s [3] - Each home features oversized lots, two-car garages, and fully upgraded kitchens, with the CompleteHome™ package offering premier upgrades at no additional cost [5][3] Community Features - Atherstone is located three miles from US-401, combining small-town charm with big-city convenience, and includes amenities such as a children's playground, dog park, picnic area, and barbecue pits [6] Floor Plan Highlights - The new floor plans include: - Aaron: 3 bed / 2 bath / 1,172 sq. ft. [11] - Blanco: 3 bed / 2 bath / 1,316 sq. ft. [11] - Cary: 3 bed / 2 bath / 1,552 sq. ft. [11] - Birch: 3 bed / 2.5 bath / 1,742 sq. ft. [11] - Avery: 3 bed / 2.5 bath / 1,800 sq. ft. [11] - Camden: 4 bed / 2.5 bath / 2,002 sq. ft. [11]

Core Insights - Taylor Morrison published its seventh annual Sustainability and Belonging Report, emphasizing its commitment to sustainable business practices and corporate responsibility [1][2] - The report introduces an online edition for enhanced interactivity and navigation [3] - The company conducted its first materiality assessment to identify key sustainability issues and climate-related risks, which will guide future strategies [3] Sustainability Initiatives - Taylor Morrison's disclosures align with standards from SASB, GRI, UN SDGs, and TCFD, showcasing its commitment to sustainability [4] - The company has achieved a 47% lower average home energy consumption compared to the HERS® benchmark, with an average home score of 53 [5] - The partnership with the National Wildlife Federation has led to the establishment of over 150 Certified Natural Open Spaces™ and the protection of over 9,200 acres of Certified Wildlife Habitat® [5] Corporate Governance and Community Engagement - The report highlights the company's focus on construction quality and climate resiliency, resulting in lower average insurance premiums for homeowners [5] - Taylor Morrison emphasizes inclusion, belonging, and equal opportunity within its workforce, ensuring team members are equipped to serve a diverse consumer base [5] - The company has been recognized as America's Most Trusted® Builder from 2016-2025, reflecting its strong commitment to sustainability and community [6]

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].

Core Insights - Toll Brothers, Inc. has launched two new collections of luxury townhomes at Overlook at Lenox Park in Brookhaven, Georgia, with sales now open [1][2] Group 1: Product Offerings - The Briarwood Collection features three-story townhomes with 3 bedrooms, 3.5 bathrooms, and 2-car garages, priced from the mid-$900,000s [2] - The Skyland Collection offers modern four-story townhomes with 3 to 4 bedrooms, 4 to 4.5 bathrooms, and 2-car garages, including rooftop terraces and private elevators [2] Group 2: Customer Experience - Toll Brothers provides a state-of-the-art Design Studio for home personalization, allowing customers to select from a wide array of options with professional assistance [4] - The community includes luxury amenities such as a serene pool, cabana, pavilion, and common spaces for socializing and relaxation [5] Group 3: Location and Accessibility - Overlook at Lenox Park is situated near Atlanta's best shopping, dining, and entertainment in Buckhead, as well as major commuter routes including the Downtown Connector [5] Group 4: Company Background - Toll Brothers, Inc. is a Fortune 500 Company and the leading builder of luxury homes in the United States, operating in over 60 markets across 24 states [8] - The company has received multiple accolades, including being named one of Fortune magazine's World's Most Admired Companies for over 10 years [9]

Core Insights - NVR, Inc. is anticipated to report lower earnings and homebuilding revenues in Q2 2025 due to soft demand, high inventories, and margin pressures [1][10] Financial Performance - The Zacks Consensus Estimate for NVR's Q2 EPS has decreased to $106.33, reflecting an 11.9% decline from the previous year's EPS of $120.69 [3] - Revenue estimates for the quarter are set at $2.40 billion, indicating a 5.8% decrease from the year-ago figure of $2.55 billion [3][10] - In the last reported quarter, NVR's earnings and homebuilding revenues missed the Zacks Consensus Estimate by 12.1% and 1%, respectively [1] Market Conditions - The homebuilding industry is experiencing ongoing softness, with the spring 2025 selling season underperforming due to affordability issues and weakened consumer confidence [4] - High and fluctuating mortgage rates, along with economic uncertainties, have negatively impacted homebuyer activity during the peak sales period [4] Revenue and Settlement Predictions - Homebuilding revenues are expected to decline by 5.6% year-over-year to $2.4 billion, with the average selling price of settlements projected to decrease by 1.5% to $443,500 [5] - Total settlements are anticipated to drop by 4.2% to 5,422 units year-over-year [5] Cost and Margin Outlook - The company's gross margin for homebuilding is expected to decrease to 22.1%, down 150 basis points from the previous year [6][10] - Selling, general, and administrative expenses are projected to rise by 2.7% year-over-year for the homebuilding segment [6][10] Order and Backlog Trends - Total new orders are predicted to increase by 3.6% year-over-year to 6,287 units, while the backlog is expected to decline to 11,030 units from 11,597 units reported a year ago [7] - The value of the backlog is estimated to be $5.3 billion, down from $5.45 billion in the same quarter last year [7] Earnings Prediction Model - The current model does not predict an earnings beat for NVR, as it lacks the necessary combination of a positive Earnings ESP and a favorable Zacks Rank [8] - NVR has an Earnings ESP of +3.25% [9]

Core Viewpoint - PulteGroup Inc. is expected to report a decline in earnings and revenues for the second quarter of 2025, primarily due to ongoing affordability challenges in the housing market and high mortgage rates impacting homebuyers [1][2][3]. Revenue Summary - The Zacks Consensus Estimate for Q2 2025 EPS has decreased to $2.93, reflecting an 18.2% decline from the previous year's EPS of $3.58 [2]. - Revenue is projected at $4.39 billion, indicating a 4.5% year-over-year decline [2]. - Home closings are expected to be between 7,400 and 7,800 units, down from 8,097 units a year ago, with a predicted decline of 6.6% year over year to 7,561 units [3][4]. Segment Performance - Homebuilding revenues, which contributed 97.4% to total revenues in Q1 2025, are expected to decrease by 4.3% year over year to $4.3 billion due to lower home closings [4]. - Financial services revenues, contributing 2.6% to total revenues in Q1, are expected to increase by 1.4% year over year to $113.2 million [4]. Pricing and Margins - The average selling price (ASP) for homes is expected to rise between $560,000 and $570,000, compared to $549,000 a year ago, with a predicted increase of 2.4% year over year to $562,200 [5][6]. - Gross margin is anticipated to shrink to 26.7% from 29.9% last year, impacted by higher buyer incentives and cost pressures [6][7]. Orders and Backlogs - Net new orders are expected to increase by 2.1% year over year to 7,811 units, while total backlog is projected to decline by 10.8% to 11,585 units, with the total backlog value decreasing by 7.3% year over year to $7.51 billion [8]. Earnings Prediction - The model indicates that PulteGroup may not achieve an earnings beat this quarter, with an Earnings ESP of -1.27% and a Zacks Rank of 4 (Sell) [9].

US housing starts rebounded in June on the strength of multifamily building, while weakness in the larger single-family market pointed to ongoing struggles with bloated inventories and affordability constraints https://t.co/TBLVg7vGte ...

Core Insights - Toll Brothers, Inc. is launching a new luxury home community named Toll Brothers at Thornebrook in Bulverde, Texas, expected to open for sale in fall 2025 [1][2] - The community will feature modern single-family homes on one-acre lots, with prices starting from the upper $900,000s [2][5] - Residents will have access to 90 acres of open space, a six-acre park, and over four miles of trails, along with being served by the highly regarded Comal Independent School District [3][5] Company Overview - Toll Brothers, Inc. is recognized as the leading builder of luxury homes in the United States and is a Fortune 500 company [7][9] - The company operates in over 60 markets across 24 states and offers a variety of home types for different buyer segments [7][8] - Toll Brothers has received multiple accolades, including being named one of Fortune magazine's World's Most Admired Companies for over 10 years [9]

Core Points - Toll Brothers, Inc. has announced a new phase of home sites in its Point Hope community located in Charleston, South Carolina, featuring luxury homes with extensive amenities [1][4] - The homes in Point Hope range from 2,135 to over 3,922 square feet, with prices starting from the mid-$700,000s, and include various modern features [2][4] - The community offers a variety of amenities such as an onsite pool, nature trails, and access to future recreational facilities, enhancing the lifestyle of its residents [4][5] Company Overview - Toll Brothers, Inc. is recognized as the nation's leading builder of luxury homes and is a Fortune 500 Company, founded in 1967 and publicly traded since 1986 [9][10] - The company operates in over 60 markets across 24 states and offers a wide range of home types for various buyer demographics [9] - Toll Brothers has received multiple accolades, including being named one of Fortune magazine's World's Most Admired Companies for over 10 years [10]