3Q deliveries up 9%, orders up 36%, backlog up 32%
Builder
TRI Pointe Group, Inc., Irvine (NYSE:TPH) early Wednesday reported a profit of $72.3 million, or $0.48 per diluted share, for the third quarter ended Sept. 30, up from $34.8 million, or $0.22 per diluted share, for the third quarter of 2016. Analysts were expecting a gain of $0.45 per share.
The increase in net income available to common stockholders was primarily due to an increase in land and lot sales gross margin of $55.4 million due primarily to the sale of a parcel consisting of 69 home building lots located in the Pacific Highlands Ranch community in San Diego, California.
