Tri Pointe Homes, Inc. (NYSE:TPH) Q3 2023 Earnings Call Transcript October 26, 2023 10:00 AM ET
Company Participants
David Lee - Investor Relations
Douglas Bauer - Chief Executive Officer
Glenn Keeler - Chief Financial Officer
Linda Mamet - CMO
Tom Mitchell - President & Chief Operating Officer
Conference Call Participants
Joe Ahlersmeyer - Deutsche Bank
Stephen Kim - Evercore ISI
Truman Patterson - Wolfe Research
Alan Ratner - Zelman & Associates
Tyler Batory - Oppenheimer
Carl Reichardt - BTIG
Jay McCanless - Wedbush
Mike Dahl - RBC Capital Markets
Alex Barron - Housing Research Center
Operator
Greetings and welcome to the Tri Pointe Homes Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, David Lee, General Counsel of TRI Pointe Homes. Please go ahead.
David Lee
Good morning, and welcome to TRI Pointe Homes' earnings conference call. Earlier this morning, the Company released its financial results, results for the third quarter of 2023. Documents detailing these results, including a slide deck are available at www.tripointehomes.com through the Investors link and under the Events and 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 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.
Douglas Bauer
Thank you, David and good morning to everyone on today's call. During the call, we will review operating results for the third quarter, provide a market update, and discuss key operating highlights. In addition, we will update our fourth quarter outlook. Tri Pointe delivered another strong quarter, achieving 1,223 deliveries and the average sales price of $675,000, leading to home sales revenue of $825 million. We exceeded the high end of our delivery guidance for the quarter, which is a testament to the success, we've achieved in efficiently converting our backlog, and to our ability to sell and close move-in ready homes during the quarter.