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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We operate two principal businesses: homebuilding and financial services.
Tri Pointe Homes is engaged in the business of acquiring and developing land and constructing and selling single-family detached and attached homes. In accordance with ASC Topic 280, Segment Reporting, we have aggregated our geographical homebuilding segments under the aggregation criteria outlined. In determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply. In addition, our determination of reporting segments considered how our chief operating decision maker evaluates operating performance and capital allocation. Based upon these factors and in consideration of the geographical layout of our homebuilding markets, we have identified three homebuilding reporting segments which are reported under the following hierarchy:
West region: Arizona, California, Nevada and Washington
Central region: Colorado, Texas and Utah
East region: District of Columbia, Florida, Maryland, North Carolina, South Carolina and Virginia
In April 2024, we announced our expansion into the Coastal Carolinas region, which includes parts of South Carolina and Georgia. While we have an established presence in South Carolina, we have not yet commenced operations in Georgia as of June 30, 2025.
Our Tri Pointe Solutions financial services operation is a reportable segment and is comprised of our Tri Pointe Connect mortgage financing operations, our Tri Pointe Assurance title and escrow services operations, and our Tri Pointe Advantage property and casualty insurance agency operations. These financial services businesses have been aggregated in accordance with the criteria outlined in ASC 280, considering their similar economic and operational characteristics. For further details, see Note 1, Organization and Summary of Significant Accounting Policies.
Corporate is a non-operating segment that develops and implements company-wide strategic initiatives and provides support to our homebuilding reporting segments by centralizing certain administrative functions, such as marketing, legal, accounting, treasury, insurance, internal audit and risk management, information technology and human resources, to benefit from economies of scale. Our Corporate non-operating segment also includes general and administrative expenses related to operating our corporate headquarters.
The reportable segments follow the same accounting policies used for our consolidated financial statements, as described in Note 1, Organization and Summary of Significant Accounting Policies. Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented.
Our Chief Executive Officer (CEO) is our Chief Operating Decision Maker (CODM) and reviews segment performance to make resource allocation decisions. The CODM evaluates each segment based on revenue, operating profit, and other key homebuilding metrics to guide strategic decisions.
Total revenues, significant expenses and income before income taxes for each of our reportable segments were as follows (in thousands):
Three Months Ended June 30, 2025
WestCentralEastHomebuilding OperationsFinancial ServicesCorporateConsolidated
Home sales revenue$470,305 $262,593 $146,934 $879,832 $— $— $879,832 
Land and lot sales revenue3,364 — — 3,364 — — 3,364 
Other operations revenue805 8 1 814 — — 814 
Financial services revenue— — — — 18,403 — 18,403 
Total revenues474,474 262,601 146,935 884,010 18,403 — 902,413 
Cost of home sales(372,305)(208,977)(113,536)(694,818)— (1,812)(696,630)
Cost of land and lot sales(3,253)— — (3,253)— — (3,253)
Other operations expense(793)— — (793)— — (793)
Sales and marketing(24,560)(17,227)(7,833)(49,620)— (551)(50,171)
General and administrative(18,647)(9,285)(8,134)(36,066)— (24,737)(60,803)
Financial services expense— — — — (14,058)— (14,058)
Income from operations54,916 27,112 17,432 99,460 4,345 (27,100)76,705 
Equity in income (loss) of unconsolidated entities65 406 — 471 — — 471 
Other income, net148 146 — 294 — 6,880 7,174 
Income (loss) before income taxes$55,129 $27,664 $17,432 $100,225 $4,345 $(20,220)$84,350 
Three Months Ended June 30, 2024
WestCentralEastHomebuilding OperationsFinancial ServicesCorporateConsolidated
Home sales revenue$674,391 $299,910 $158,707 $1,133,008 $— $— $1,133,008 
Land and lot sales revenue2,480 1,680 — 4,160 — — 4,160 
Other operations revenue778 4 — 782 — — 782 
Financial services revenue— — — — 16,974 — 16,974 
Total revenues677,649 301,594 158,707 1,137,950 16,974 — 1,154,924 
Cost of home sales(519,000)(222,313)(122,057)(863,370)— (2,311)(865,681)
Cost of land and lot sales(2,324)(1,517)— (3,841)— — (3,841)
Other operations expense(765)— — (765)— — (765)
Sales and marketing(30,579)(17,987)(8,003)(56,569)— (235)(56,804)
General and administrative(20,928)(9,659)(7,038)(37,625)— (30,122)(67,747)
Financial services expense— — — — (10,890)— (10,890)
Income from operations104,053 50,118 21,609 175,780 6,084 (32,668)149,196 
Equity in income (loss) of unconsolidated entities(9)164 (56)99 — — 99 
Other income, net159 5 51 215 — 9,719 9,934 
Income (loss) before income taxes$104,203 $50,287 $21,604 $176,094 $6,084 $(22,949)$159,229 
Six Months Ended June 30, 2025
WestCentralEastHomebuilding OperationsFinancial ServicesCorporateConsolidated
Home sales revenue$870,827 $473,115 $256,676 $1,600,618 $— $— $1,600,618 
Land and lot sales revenue3,785 1,400 — 5,185 — — 5,185 
Other operations revenue1,611 18 5 1,634 — — 1,634 
Financial services revenue— — — — 35,904 — 35,904 
Total revenues876,223 474,533 256,681 1,607,437 35,904 — 1,643,341 
Cost of home sales(677,931)(369,014)(194,676)(1,241,621)— (3,282)(1,244,903)
Cost of land and lot sales(3,806)(1,188)— (4,994)— — (4,994)
Other operations expense(1,587)— — (1,587)— — (1,587)
Sales and marketing(47,329)(30,564)(14,206)(92,099)— (1,014)(93,113)
General and administrative(36,973)(18,086)(15,888)(70,947)— (47,531)(118,478)
Financial services expense— — — — (26,675)— (26,675)
Income from operations108,597 55,681 31,911 196,189 9,229 (51,827)153,591 
Equity in income (loss) of unconsolidated entities67 899 — 966 — — 966 
Other income, net238 450 4 692 — 15,611 16,303 
Income (loss) before income taxes$108,902 $57,030 $31,915 $197,847 $9,229 $(36,216)$170,860 
Six Months Ended June 30, 2024
WestCentralEastHomebuilding OperationsFinancial ServicesCorporateConsolidated
Home sales revenue$1,221,812 $572,449 $257,100 $2,051,361 $— $— $2,051,361 
Land and lot sales revenue7,869 3,359 — 11,228 — — 11,228 
Other operations revenue1,558 10 1 1,569 — — 1,569 
Financial services revenue— — — — 30,168 — 30,168 
Total revenues1,231,239 575,818 257,101 2,064,158 30,168 — 2,094,326 
Cost of home sales(944,732)(426,368)(197,576)(1,568,676)— (4,309)(1,572,985)
Cost of land and lot sales(6,920)(2,678)— (9,598)— — (9,598)
Other operations expense(1,530)— — (1,530)— — (1,530)
Sales and marketing(57,818)(34,383)(14,233)(106,434)— (594)(107,028)
General and administrative(39,027)(16,716)(12,926)(68,669)— (50,406)(119,075)
Financial services expense— — — — (19,617)— (19,617)
Income from operations181,212 95,673 32,366 309,251 10,551 (55,309)264,493 
Equity in income (loss) of unconsolidated entities(18)169 5 156 — — 156 
Other income, net712 139 54 905 — 24,255 25,160 
Income (loss) before income taxes$181,906 $95,981 $32,425 $310,312 $10,551 $(31,054)$289,809 


 
Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands):
June 30, 2025December 31, 2024
Real estate inventories
West$2,011,316 $1,928,257 
Central813,730 791,171 
East476,256 434,031 
Total$3,301,302 $3,153,459 
Total assets(1)
West$2,324,244 $2,186,696 
Central1,066,876 1,014,811 
East531,875 473,874 
Corporate697,258 1,041,646 
Total homebuilding assets4,620,253 4,717,027 
Financial services177,589 174,088 
Total$4,797,842 $4,891,115 
__________
(1)    Total assets as of June 30, 2025 and December 31, 2024 includes $139.3 million of goodwill, with $125.4 million included in the West segment, $8.3 million included in the Central segment and $5.6 million included in the East segment. Total Corporate assets as of June 30, 2025 and December 31, 2024 includes our Tri Pointe Homes trade name. For further details on goodwill and our intangible assets, see Note 8, Goodwill and Other Intangible Assets.