Tri Pointe Homes, Inc. (NYSE:TPH) Q3 2022 Results Conference Call October 27, 2022 10:00 AM ET
Company Participants
David Lee - Investor Relations
Doug Bauer - Chief Executive Officer
Glenn Keeler - Chief Financial Officer and Chief Accounting Officer
Linda Mamet - Chief Marketing Officer
Tom Mitchell - President and Chief Operating Officer
Conference Call Participants
Stephen Kim - Evercore
Alan Ratner - Zelman & Associates
Carl Reichardt - BTIG
Alex Rygiel - B Riley
Jay McCanless - Wedbush
Truman Patterson - Wolfe Research
Alex Barron - Housing Research Center
Operator
Ladies and gentlemen, greetings and welcome to the TRI Pointe Homes Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
I will now turn the conference over to David Lee, General Counsel. Please go ahead, sir.
David Lee
Good morning, and welcome to TRI Pointe Homes Earnings Conference Call. Earlier this morning, the company released its financial results for the third quarter of 2022. Documents detailing these results, including a slide deck are available at www.tripointehomes.com through the Investors link and under the Events & Presentations tab.
Before the call begins, I would like to remind everyone that certain statements made on this call which are not historical facts, including statements concerning future financial and operating performance are forward-looking statements that involve risks and uncertainties. A discussion of risks and uncertainties and other factors that could cause actual results to differ materially are detailed in the company's SEC filings. Except as required by law, the company undertakes no duty to update these forward-looking statements.
Additionally, reconciliations of non-GAAP financial measures discussed on this call to the most comparable GAAP measures can be accessed through TRI Pointe's website and in its SEC filings.
Hosting the call today are Doug Bauer, the company's Chief Executive Officer; Glenn Keeler, the company's Chief Financial Officer;
Tom Mitchell, the company's Chief Operating Officer and President; and Linda Mamet, the Company's Chief Marketing Officer.
With that, I will now turn the call over to Doug.
Doug Bauer
Good morning, and thank you for joining us today as we go over our results for the third quarter of 2022 and provide an update on current business conditions and our strategic plan. Tri Pointe Homes produced outstanding results in the third quarter. We delivered 1,463 homes with an average gross margin of 27.1%, generated net income of $149 million or $1.45 per diluted share. This represented a 24% increase in earnings per share compared to the third quarter of 2021.