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 (GLOBE NEWSWIRE) -- Tri Pointe Homes, Inc. (the “Company”) (NYSE:TPH) today announced results for the second quarter ended June 30, 2025. The Company also announced that its Board of Directors has authorized the repurchase of up to an additional $50 million of common stock under its existing stock repurchase program (“Repurchase Program”), increasing the aggregate authorization under the Repurchase Program from $250 million to $300 million. Results and Operational Data for Second Quarter 2025 and Comparisons to Second Quarter 2024 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. Excluding an inventory-related charge of $11.0 million, our net income available to common stockholders was $68.7 million, or $0.77* per diluted share.Home sales revenue of $879.8 million compared to $1.1 billion New home deliveries of 1,326 homes compared to 1,700 homesAverage sales price of homes delivered of $664,000 compared to $666,000 Homebuilding gross margin percentage of 20.8% compared to 23.6%. Excluding an inventory-related charge of $11.0 million, our homebuilding gross margin percentage was 22.1%*. Excluding interest and impairments and lot option abandonments, adjusted homebuilding gross margin percentage was 25.2%* SG&A expense as a percentage of home sales revenue of 12.6% compared to 11.0%Net new home orders of 1,131 compared to 1,651Active selling communities averaged 149.8 compared to 152.5 Net new home orders per average selling community were 7.6 orders (2.5 monthly) compared to 10.8 orders (3.6 monthly)Cancellation rate of 13% compared to 9% Backlog units at quarter end of 1,520 homes compared to 2,692 Dollar value of backlog at quarter end of $1.2 billion compared to $2.0 billionAverage sales price of homes in backlog at quarter end of $776,000 compared to $743,000 Ratios of homebuilding debt-to-capital and net homebuilding debt-to-net capital of 21.7% and 8.0%*, respectively, as of June 30, 2025Repurchased 3,187,982 shares of common stock at a weighted average price per share of $31.37 for an aggregate dollar amount of $100.0 million in the three months ended June 30, 2025Increased the maximum amount of our revolving credit facility from $750 million to $850 million and extended the maturity date of our revolving credit facility to June 2030Ended the second quarter of 2025 with total liquidity of $1.4 billion, including cash and cash equivalents of $622.6 million and $785.7 million of availability under our revolving credit facility “Tri Pointe Homes delivered another solid quarter, meeting our revenue and earnings guidance despite ongoing macroeconomic headwinds,” said Doug Bauer, Tri Pointe Homes Chief Executive Officer. “In the second quarter, we closed 1,326 homes at an average sales price of $664,000, generating $880 million in home sales revenue. Our homebuilding gross margin of 22.1%*, adjusted to exclude the impact of an inventory-related charge, reflects continued pricing discipline, product strength, and cost control. These results highlight our team’s ability to execute in a complex market environment. Adjusted net income and diluted EPS, also excluding the inventory-related charge, were $68.7 million* and $0.77*, respectively.” Mr. Bauer continued, “While policy uncertainty and geopolitical tensions continue to impact buyer sentiment, the long-term outlook for housing remains constructive, supported by structural undersupply and favorable demographics. We are actively managing through near-term volatility with targeted incentives, balanced spec inventory, and disciplined land investments. Our strong balance sheet, with $1.4 billion in liquidity and a net homebuilding debt-to-net capital ratio of only 8.0%*, enables us to advance our growth initiatives without compromising our financial strength. With an experienced team, a scalable platform, and a differentiated brand, Tri Pointe is well-positioned to drive long-term growth and deliver lasting value to our stockholders.” “We remain confident in the resilience of housing demand and in our long-term business strategy,” said Tom Mitchell, Tri Pointe Homes President and Chief Operating Officer. “Our operational focus, centered on margin discipline, capital efficiency, and customer satisfaction, is enabling us to navigate today’s environment while positioning for future upside. Our expansion into Utah, Florida, and the Coastal Carolinas continues to progress on schedule, and we are deploying capital into these high-potential markets with scalable, efficient operating models. Coupled with opportunistic share repurchases and strategic land investments, we are driving returns and laying the foundation for sustained growth.” *See “Reconciliation of Non-GAAP Financial Measures” Outlook For the third quarter, the Company anticipates delivering between 1,000 and 1,100 homes at an average sales price between $675,000 and $685,000. The Company expects homebuilding gross margin percentage to be in the range of 20.0% to 21.0% for the third quarter and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 13.0% to 14.0%. Finally, the Company expects its effective tax rate for the third quarter to be approximately 27.0%. For the full year, the Company anticipates delivering between 4,800 and 5,200 homes at an average sales price between $665,000 and $675,000. The Company expects homebuilding gross margin percentage to be in the range of 20.5% and 22.0% (excluding an $11.0 million inventory-related charge recorded in the second quarter) for the full year and anticipates its SG&A expense as a percentage of home sales revenue will be in the range of 12.0% and 13.0%. Finally, the Company expects its effective tax rate for the full year to be approximately 27.0%. Stock Repurchase Program On July 23, 2025, the Company’s Board of Directors approved the repurchase of up to an additional $50 million of Company common stock pursuant to its Repurchase Program. As of July 23, 2025, the Company had purchased an aggregate of 3,187,982 shares of common stock for approximately $175.0 million pursuant to the Repurchase Program. Under the Repurchase Program as amended, the Company may repurchase shares of its outstanding common stock with an aggregate value of up to $300 million through December 31, 2025. Purchases of common stock pursuant to the Repurchase Program may be made in open market transactions effected through a broker-dealer at prevailing market prices, in block trades, or by other means in accordance with federal securities laws, including pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The Company is not obligated under the Repurchase Program to repurchase any specific number or amount of shares of common stock, and it may modify, suspend or discontinue the program at any time. Company management will determine the timing and amount of repurchase in its discretion based on a variety of factors, such as the market price of the Company’s common stock, corporate requirements, general market economic conditions and legal requirements. Earnings Conference Call The Company will host a conference call via live webcast for investors and other interested parties beginning at 10:00 a.m. Eastern Time on Thursday, July 24, 2025. The call will be hosted by Doug Bauer, Chief Executive Officer, Tom Mitchell, President and Chief Operating Officer, Glenn Keeler, Chief Financial Officer, and Linda Mamet, Executive Vice President and Chief Marketing Officer. Interested parties can listen to the call live and view the related slides on the Internet under the Events & Presentations heading in the Investors section of the Company’s website at www.TriPointeHomes.com. Listeners should go to the website at least fifteen minutes prior to the call to download and install any necessary audio software. The call can also be accessed toll free at (877) 407-3982, or (201) 493-6780 for international participants. Participants should ask for the Tri Pointe Homes Second Quarter 2025 Earnings Conference Call. Those dialing in should do so at least ten minutes prior to the start of the call. A replay of the call will be available for two weeks following the call toll free at (844) 512-2921, or (412) 317-6671 for international participants, using the reference number 13754565. An archive of the webcast will also be available on the Company’s website for a limited time. About Tri Pointe Homes, Inc. One of the largest homebuilders in the U.S., Tri Pointe Homes, Inc. (NYSE: TPH) is a publicly traded company operating in 12 states and the District of Columbia, and is a recognized leader in customer experience, innovative design, and environmentally responsible business practices. The company builds premium homes and communities with deep ties to the communities it serves—some for as long as a century. Tri Pointe Homes combines the financial resources, technology platforms and proven leadership of a national organization with the regional insights, longstanding community connections and agility of empowered local teams. Tri Pointe has won multiple Builder of the Year awards and was named 2024 Developer of the Year. The company was also named to the 2024 Fortune World’s Most Admired Companies™ list, is one of the 2023 and 2025 Fortune 100 Best Companies to Work For® and was designated as one of the PEOPLE Companies That Care® in 2023 and 2024. The company was also named as a Great Place To Work-Certified™ company for four consecutive years, and was named on several Great Place To Work® Best Workplaces list (2022 through 2024). For more information, please visit TriPointeHomes.com. Forward-Looking Statements Various statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may include, but are not limited to, statements regarding our strategy, projections and estimates concerning the timing and success of specific projects and our future production, land and lot sales, operational and financial results, including our estimates for growth, financial condition, sales prices, prospects, and capital spending. Forward-looking statements that are included in this press release are generally accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “future,” “goal,” “guidance,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “strategy,” “target,” “will,” “would,” or other words that convey future events or outcomes. The forward-looking statements in this press release speak only as of the date of this press release, and we disclaim any obligation to update these statements unless required by law, and we caution you not to rely on them unduly. These forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. The following factors, among others, may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements: the effects of general economic conditions, including employment rates, housing starts, interest rate levels, home affordability, inflation, consumer sentiment, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such parcels; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the successful execution of our internal performance plans, including restructuring and cost reduction initiatives; the prices and availability of supply chain inputs, including raw materials, labor and home components; oil and other energy prices; the effects of U.S. trade policies, including the imposition of tariffs and duties on homebuilding products and retaliatory measures taken by other countries; the effects of weather, including the occurrence of drought conditions in parts of the western United States; the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, and shortages and price increases in labor or materials associated with such natural disasters; the risk of loss from acts of war, terrorism, civil unrest or public health emergencies, including outbreaks of contagious disease, such as COVID-19; transportation costs; federal and state tax policies; the effects of land use, environment and other governmental laws and regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness, financial condition, losses and future prospects; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our homebuyers’ confidential information or other forms of cyber-attack; and additional factors discussed under the sections captioned “Risk Factors” included in our annual and quarterly reports filed with the Securities and Exchange Commission. The foregoing list is not exhaustive. New risk factors may emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risk factors on our business. Investor Relations Contact:InvestorRelations@TriPointeHomes.com, 949-478-8696 Media Contact: Carol Ruiz, cruiz@newgroundco.com, 310-437-0045 KEY OPERATIONS AND FINANCIAL DATA (dollars in thousands) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 Change % Change 2025 2024 Change % ChangeOperating Data:(unaudited)Home sales revenue$879,832 $1,133,008 $(253,176) (22.3)% $1,600,618 $2,051,361 $(450,743) (22.0)%Homebuilding gross margin$183,202 $267,327 $(84,125) (31.5)% $355,715 $478,376 $(122,661) (25.6)%Homebuilding gross margin % 20.8% 23.6% (2.8)% 22.2% 23.3% (1.1)% Adjusted homebuilding gross margin %* 25.2% 27.1% (1.9)% 26.1% 26.8% (0.7)% SG&A expense$110,974 $124,551 $(13,577) (10.9)% $211,591 $226,103 $(14,512) (6.4)%SG&A expense as a % of home sales revenue 12.6% 11.0% 1.6% 13.2% 11.0% 2.2% Net income available to common stockholders$60,748 $118,002 $(57,254) (48.5)% $124,784 $217,057 $(92,273) (42.5)%Adjusted EBITDA*$139,322 $215,998 $(76,676) (35.5)% $265,020 $391,891 $(126,871) (32.4)%Interest incurred$20,374 $30,378 $(10,004) (32.9)% $41,693 $66,534 $(24,841) (37.3)%Interest in cost of home sales$25,578 $38,994 $(13,416) (34.4)% $48,613 $69,643 $(21,030) (30.2)% Other Data: Net new home orders 1,131 1,651 (520) (31.5)% 2,369 3,465 (1,096) (31.6)%New homes delivered 1,326 1,700 (374) (22.0)% 2,366 3,093 (727) (23.5)%Average sales price of homes delivered$664 $666 $(2) (0.3)% $677 $663 $14 2.1%Cancellation rate 13% 9% 4% 12% 8% 4% Average selling communities 149.8 152.5 (2.7) (1.8)% 147.7 152.7 (5.0) (3.3)%Selling communities at end of period 151 153 (2) (1.3)% Backlog (estimated dollar value)$1,179,715 $1,999,852 $(820,137) (41.0)% Backlog (homes) 1,520 2,692 (1,172) (43.5)% Average sales price in backlog$776 $743 $33 4.4% June 30, December 31, 2025 2024 Change % Change Balance Sheet Data:(unaudited) Cash and cash equivalents$622,642 $970,045 $(347,403) (35.8)% Real estate inventories$3,301,302 $3,153,459 $147,843 4.7% Lots owned or controlled 34,025 36,490 (2,465) (6.8)% Homes under construction (1) 2,798 2,386 412 17.3% Homes completed, unsold 422 464 (42) (9.1)% Total homebuilding debt$909,974 $917,504 $(7,530) (0.8)% Stockholders’ equity$3,289,961 $3,335,710 $(45,749) (1.4)% Book capitalization$4,199,935 $4,253,214 $(53,279) (1.3)% Ratio of homebuilding debt-to-capital 21.7% 21.6% 0.1% Ratio of net homebuilding debt-to-net capital* 8.0% (1.6)% 9.6% __________ (1)Homes under construction included 59 and 43 models as of June 30, 2025 and December 31, 2024, respectively.*See “Reconciliation of Non-GAAP Financial Measures” CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) June 30, December 31, 2025 2024Assets(unaudited) Cash and cash equivalents$622,642 $970,045Receivables 165,716 111,613Real estate inventories 3,301,302 3,153,459Investments in unconsolidated entities 194,089 173,924Mortgage loans held for sale 104,862 115,001Goodwill and other intangible assets, net 156,603 156,603Deferred tax assets, net 45,975 45,975Other assets 206,653 164,495Total assets$4,797,842 $4,891,115 Liabilities Accounts payable$81,448 $68,228Accrued expenses and other liabilities 417,304 465,563Loans payable 262,921 270,970Senior notes 647,053 646,534Mortgage repurchase facilities 99,022 104,098Total liabilities 1,507,748 1,555,393 Commitments and contingencies Equity Stockholders’ equity: Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively — —Common stock, $0.01 par value, 500,000,000 shares authorized; 87,506,511 and 92,451,729 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 875 925Additional paid-in capital — —Retained earnings 3,289,086 3,334,785Total stockholders’ equity 3,289,961 3,335,710Noncontrolling interests 133 12Total equity 3,290,094 3,335,722Total liabilities and equity$4,797,842 $4,891,115 CONSOLIDATED STATEMENT OF OPERATIONS (in thousands, except share and per share amounts) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Homebuilding: Home sales revenue$879,832 $1,133,008 $1,600,618 $2,051,361 Land and lot sales revenue 3,364 4,160 5,185 11,228 Other operations revenue 814 782 1,634 1,569 Total revenues 884,010 1,137,950 1,607,437 2,064,158 Cost of home sales 696,630 865,681 1,244,903 1,572,985 Cost of land and lot sales 3,253 3,841 4,994 9,598 Other operations expense 793 765 1,587 1,530 Sales and marketing 50,171 56,804 93,113 107,028 General and administrative 60,803 67,747 118,478 119,075 Homebuilding income from operations 72,360 143,112 144,362 253,942 Equity in income of unconsolidated entities 471 99 966 156 Other income, net 7,174 9,934 16,303 25,160 Homebuilding income before income taxes 80,005 153,145 161,631 279,258 Financial Services: Revenues 18,403 16,974 35,904 30,168 Expenses 14,058 10,890 26,675 19,617 Financial services income before income taxes 4,345 6,084 9,229 10,551 Income before income taxes 84,350 159,229 170,860 289,809 Provision for income taxes (23,640) (41,227) (46,133) (72,811)Net income 60,710 118,002 124,727 216,998 Net loss attributable to noncontrolling interests 38 — 57 59 Net income available to common stockholders$60,748 $118,002 $124,784 $217,057 Earnings per share Basic$0.68 $1.25 $1.38 $2.29 Diluted$0.68 $1.25 $1.38 $2.28 Weighted average shares outstanding Basic 88,914,413 94,059,037 90,269,159 94,645,676 Diluted 89,234,359 94,740,019 90,648,492 95,305,469 MARKET DATA BY REPORTING SEGMENT & GEOGRAPHY(dollars in thousands) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 NewHomesDelivered AverageSalesPrice NewHomesDelivered AverageSalesPrice NewHomesDelivered AverageSalesPrice NewHomesDelivered AverageSalesPriceArizona152 $773 140 $712 291 $773 277 $724California345 698 570 762 633 721 987 766Nevada82 593 117 646 124 586 230 665Washington61 1,036 74 875 113 1,030 127 886West total640 735 901 748 1,161 750 1,621 754Colorado50 635 53 675 68 647 95 703Texas431 536 475 556 790 543 915 553Central total481 546 528 568 858 551 1,010 567Carolinas(1)120 498 208 489 205 507 382 477Washington D.C. Area(2)85 1,025 63 904 142 1,076 80 937East total205 717 271 586 347 740 462 556Total1,326 $664 1,700 $666 2,366 $677 3,093 $663 Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net NewHomeOrders AverageSellingCommunities Net NewHomeOrders AverageSellingCommunities Net NewHomeOrders AverageSellingCommunities Net NewHomeOrders AverageSellingCommunitiesArizona84 16.5 182 15.2 207 15.3 338 13.6California309 36.5 576 42.2 662 37.2 1,189 44.1Nevada75 10.0 118 8.3 175 10.0 272 8.9Washington55 5.8 77 5.8 123 5.3 184 5.7West total523 68.8 953 71.5 1,167 67.8 1,983 72.3Colorado37 9.8 25 10.5 69 9.9 72 10.7Texas386 51.2 441 52.5 767 50.7 924 52.4Central total423 61.0 466 63.0 836 60.6 996 63.1Carolinas(1)109 13.0 130 11.5 215 11.9 309 11.4Washington D.C. Area(2)76 7.0 102 6.5 151 7.4 177 5.9East total185 20.0 232 18.0 366 19.3 486 17.3Total1,131 149.8 1,651 152.5 2,369 147.7 3,465 152.7 (1)Carolinas comprises North Carolina and South Carolina.(2)Washington D.C. Area comprises Maryland, Virginia and the District of Columbia. MARKET DATA BY REPORTING SEGMENT & GEOGRAPHY, continued(dollars in thousands) (unaudited) As of June 30, 2025 As of June 30, 2024 BacklogUnits BacklogDollarValue AverageSalesPrice BacklogUnits BacklogDollarValue AverageSalesPriceArizona221 $179,643 $813 320 $245,870 $768California370 267,974 724 900 724,667 805Nevada112 75,837 677 173 100,881 583Washington110 158,796 1,444 147 138,919 945West total813 682,250 839 1,540 1,210,337 786Colorado16 11,459 716 25 18,664 747Texas434 260,516 600 715 428,420 599Central total450 271,975 604 740 447,084 604Carolinas(1)97 50,724 523 209 115,638 553Washington D.C. Area(2)160 174,766 1,092 203 226,793 1,117East total257 225,490 877 412 342,431 831Total1,520 $1,179,715 $776 2,692 $1,999,852 $743 June 30, December 31, 2025 2024 Lots Owned or Controlled: Arizona1,810 2,099 California9,652 10,291 Nevada1,204 1,437 Washington484 597 West total13,150 14,424 Colorado1,342 1,561 Texas12,885 12,711 Utah405 1,006 Central total14,632 15,278 Carolinas(1)4,279 5,004 Florida542 252 Washington D.C. Area(2)1,422 1,532 East total6,243 6,788 Total34,025 36,490 June 30, December 31, 2025 2024 Lots by Ownership Type: Lots owned16,523 16,609 Lots controlled (3)17,502 19,881 Total34,025 36,490 (1)Carolinas comprises North Carolina and South Carolina.(2)Washington D.C. Area comprises Maryland, Virginia and the District of Columbia.(3)As of June 30, 2025 and December 31, 2024, lots controlled included lots that were under land option contracts or purchase contracts. As of June 30, 2025 and December 31, 2024, lots controlled for Central include 5,739 and 5,816 lots, respectively, and lots controlled for East include zero and 14 lots, respectively, which represent our expected share of lots owned by our investments in unconsolidated land development joint ventures. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited) In this press release, we utilize certain financial measures that are non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they and similar measures are useful to management and investors in evaluating the Company’s operating performance and financing structure. We also believe these measures facilitate the comparison of our operating performance and financing structure with other companies in our industry. Because these measures are not calculated in accordance with Generally Accepted Accounting Principles (“GAAP”), they may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. The following tables reconcile the homebuilding gross margin percentage, as reported and prepared in accordance with GAAP, to the non-GAAP measure adjusted homebuilding gross margin percentage. We believe this information is meaningful as it isolates the impact that leverage has on homebuilding gross margin and permits investors to make better comparisons with our competitors, who adjust gross margins in a similar fashion. Three Months Ended June 30, 2025 % 2024 % (dollars in thousands)Home sales revenue$879,832 100.0% $1,133,008 100.0%Cost of home sales 696,630 79.2% 865,681 76.4%Homebuilding gross margin 183,202 20.8% 267,327 23.6%Add: interest in cost of home sales 25,578 2.9% 38,994 3.4%Add: impairments and lot option abandonments 13,096 1.5% 968 0.1%Adjusted homebuilding gross margin$221,876 25.2% $307,289 27.1%Homebuilding gross margin percentage 20.8% 23.6% Adjusted homebuilding gross margin percentage 25.2% 27.1% Six Months Ended June 30, 2025 % 2024 %Home sales revenue$1,600,618 100.0% $2,051,361 100.0%Cost of home sales 1,244,903 77.8% 1,572,985 76.7%Homebuilding gross margin 355,715 22.2% 478,376 23.3%Add: interest in cost of home sales 48,613 3.0% 69,643 3.4%Add: impairments and lot option abandonments 14,169 0.9% 1,370 0.1%Adjusted homebuilding gross margin(1)$418,497 26.1% $549,389 26.8%Homebuilding gross margin percentage 22.2% 23.3% Adjusted homebuilding gross margin percentage(1) 26.1% 26.8% RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued)(unaudited) The following table reconciles the Company’s ratio of homebuilding debt-to-capital to the non-GAAP ratio of net homebuilding debt-to-net capital. We believe that the ratio of net homebuilding debt-to-net capital is a relevant financial measure for management and investors to understand the leverage employed in our operations and as an indicator of the Company’s ability to obtain financing. June 30, 2025 December 31, 2024Loans payable$262,921 $270,970 Senior notes 647,053 646,534 Mortgage repurchase facilities 99,022 104,098 Total debt 1,008,996 1,021,602 Less: mortgage repurchase facilities (99,022) (104,098)Total homebuilding debt 909,974 917,504 Stockholders’ equity 3,289,961 3,335,710 Total capital$4,199,935 $4,253,214 Ratio of homebuilding debt-to-capital(1) 21.7% 21.6% Total homebuilding debt$909,974 $917,504 Less: Cash and cash equivalents (622,642) (970,045)Net homebuilding debt 287,332 (52,541)Stockholders’ equity 3,289,961 3,335,710 Net capital$3,577,293 $3,283,169 Ratio of net homebuilding debt-to-net capital(2) 8.0% (1.6)% __________ (1)The ratio of homebuilding debt-to-capital is computed as the quotient obtained by dividing total homebuilding debt by the sum of total homebuilding debt plus stockholders’ equity.(2)The ratio of net homebuilding debt-to-net capital is computed as the quotient obtained by dividing net homebuilding debt (which is total homebuilding debt less cash and cash equivalents) by the sum of net homebuilding debt plus stockholders’ equity. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued)(unaudited) The following table contains information about our operating results reflecting certain adjustments to homebuilding gross margin, income before income taxes, provision for income taxes, net income, net income available to common stockholders and earnings per share (diluted). We believe reflecting these adjustments is useful to investors in understanding our recurring operations by eliminating the effects of certain non-routine events, and may be helpful in comparing the Company to other homebuilders to the extent they provide similar information. Three Months Ended June 30, 2025 Six Months Ended June 30, 2025 As Reported Adjustments Adjusted As Reported Adjustments AdjustedGross Margin Reconciliation(in thousands, except share and per share amounts)Home sales revenue$879,832 $— $879,832 $1,600,618 $— $1,600,618 Cost of home sales 696,630 (11,000)(1) 685,630 1,244,903 (11,000)(1) 1,233,903 Homebuilding gross margin$183,202 $11,000 $194,202 $355,715 $11,000 $366,715 Homebuilding gross margin percentage 20.8% 1.3% 22.1% 22.2% 0.7% 22.9% Income Reconciliation Income before income taxes$84,350 $11,000 (1)$95,350 $170,860 $11,000 (1)$181,860 Provision for income taxes (23,640) (3,083)(2) (26,723) (46,133) (2,970)(2) (49,103)Net income 60,710 7,917 68,627 124,727 8,030 132,757 Net loss attributable to noncontrolling interests 38 — 38 57 — 57 Net income available to common stockholders$60,748 $7,917 $68,665 $124,784 $8,030 $132,814 Earnings per share Diluted$0.68 $0.09 $0.77 $1.38 $0.09 $1.47 Weighted average shares outstanding Diluted 89,234,359 89,234,359 90,648,492 90,648,492 Effective tax rate 28.0% 28.0% 27.0% 27.0% __________ (1)Comprises an $11.0 million inventory impairment charge.(2) Comprises the impact on provision for income taxes related to the inventory impairment charge described in footnote (1). RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued)(unaudited) The following table calculates the non-GAAP financial measures of EBITDA and Adjusted EBITDA and reconciles those amounts to net income available to common stockholders, as reported and prepared in accordance with GAAP. EBITDA means net income available to common stockholders before (a) interest expense, (b) expensing of previously capitalized interest included in costs of home sales, (c) income taxes and (d) depreciation and amortization. Adjusted EBITDA means EBITDA before (e) amortization of stock-based compensation and (f) impairments and lot option abandonments. Other companies may calculate EBITDA and Adjusted EBITDA (or similarly titled measures) differently. We believe EBITDA and Adjusted EBITDA are useful measures of the Company’s ability to service debt and obtain financing. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (in thousands)Net income available to common stockholders$60,748 $118,002 $124,784 $217,057 Interest expense: Interest incurred 20,374 30,378 41,693 66,534 Interest capitalized (20,374) (30,378) (41,693) (66,534)Amortization of interest in cost of sales 25,578 39,164 48,731 70,010 Provision for income taxes 23,640 41,227 46,133 72,811 Depreciation and amortization 7,657 7,697 15,044 15,024 EBITDA 117,623 206,090 234,692 374,902 Amortization of stock-based compensation 8,603 8,940 16,159 15,619 Impairments and lot option abandonments 13,096 968 14,169 1,370 Adjusted EBITDA$139,322 $215,998 $265,020 $391,891

Tri Pointe Homes, Inc. Reports 2025 Second Quarter Results and Announces $50 Million Increase to Its Stock Repurchase Program

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