on today's to you, Thank call. everyone morning good David, and
quarter, provide results of update. operating a discuss some and growth the During our we call, review for market initiatives the will first
end of will Home $XXX,XXX, homes XX% metrics. which price revenue resulting Homes our all an sales incentives. high year. year $XXX XX% average million, provide quarter home or In compared high our Pointe at gross delivered was sales of first for to pleased for quarter, sales outlook end of X,XXX were guidance resulting at report We addition, exceeded lower an previous key outstanding quarter from the in guidance had operating range, that increase margins of met across Tri full the the that XXXX.We're a and to we second the
increased a led income favorable of Today's by strong and results unemployment to conditions prevailing ongoing year.Relative economy, creates levels, XX% higher SG&A us to cycle Pointe increase housing of Our along with gap customers.During starts net well-qualified orders, improvement consumer an volume a as allowed from prior to to of strategic This, Homes the appeal per that market decrease improved resulting for with demand, improvement X,XXX profits. was net needs engine efficient prior the home focus to compared share quarter, housing to recorded innovative and has prior diluted the of new These is results success environment the of improvement a the delivery the shortage an our locations supply-demand sales market outstanding marking year. in ongoing product point in generate us percentage percentage our earnings enabled leverage, an XX.X%; to times benefit to a year.In to revenue Tri market XX core addition, remain towards a to in reducing further basis and homebuilders. $X.XX, new compared over meet XX% of spec supply. shift to low $XX our a address we on deliveries. reflect fueled which million and operating pre-pandemic
our between X.X the With focus our profitability. to finding month. strong demand, a throughout healthy homes balance maximize remained pace on per we and per absorption quarter, Our averaging community, price pace
are the deliveries, season quarter the ASP give Glenn from were on that and moment. able full incentives selling to reflect for a and a most and a our continues cash orders on sequentially guidance quarter, to our X.X% X,XXX million positive We $XXX will year $XXX of During of ended spring from strong backlog homes we gross pricing demand, guidance hand. percentage. to generated compared of raising quarter.With million in we our improving details X.X% margin cash in operations to with further raise on fourth net the communities flow with substantial first of
million decrease in that have off to maturing notes annual senior pay reduce This and quarter carry We $XX plan million these of interest our $XXX and will our full. second notes debt-to-capital we along are XX% to in by the stock repurchase from program. with liquidity, cash returning our to ability balance our grow flow to business strong while our low positive shareholders generate level.Our ratio enables also and operations our sheet through capital us to the
for our $XX.XX increased component the of our amount and drive aggregate compounded up our annually. our share.The of XXXX, year book X.X common per share results. to $XX share our first in capital Since to began repurchasing average at program to by repurchases drive XXX% key value repurchase and we continues We approximately committed outstanding During a benefit price have stock strategy show we down our value or shares per as we of our allocation continue an earnings the the of quarter, shares, cumulative we book million remain of which an in end share million. of XX% dollar shares repurchased as
to to on our key on strong During the executed XXXX, that off have period, been also we've initiatives we same shares discussed results growth XX%.In fourth outstanding call. quarter earnings our kick by reduced operating addition
in wholly Connect acquisition the Point at pricing integration financial services.Our stake strong enhanced with increasing by first mortgage customer Tri Connect, experience allows Pointe following owned This company, an first minority while quarter, our and the Pointe became rate for During the the earnings from loanDepot. flexibility Tri remained quarter Homes, capture of XX%. Tri from
the Pointe of $XXX,XXX. financing XXX, But Connect Our of an average average ratio buyers development and strength income business the new the household of with divisions. we an and score into last FICO and of Salt ratio month the entry markets. financial of we the City Late another Tri demonstrate exciting earlier XX% into gross Greater our for this opening announced debt-to-income our expansion Carolinas Orlando announced market, Tri loan-to-value brand XX%, of Lake backlog with Pointe is and coastal year,
these anticipate both an excellent that to quarter despite Carolinas Orlando in successes into southeastern X.X% we first activity expand markets their the mortgage as our Both the feel in April X.X%, Raleigh.The housing growing drive leveraging our Southeast nation in in XXXX, and Florida to caters thrilled and demand. these order both are opportunity jobs rates. in for engine deliveries and Carolina and established states in premium boast need markets. economic housing has populations that South both economies brand strong diverse emerged remained results, move-up the have Charlotte being foundation provide with for in two strong the We and by and has and in We first markets, entry We respectively. recent divisions an level beyond fuel coastal the fastest-growing markets XXXX.Looking increases
a are In to the new historic home particularly share market, to our strength household are the act up, existing see fundamentals key near-term in new economic Despite formations, a we opportunities quality current as continuing ongoing continue factor new leverage homebuilders seize environment Tri about ongoing to housing total is buyers the strengths of solid outlook resale Gen markets. of Z our very to the and inflation-driven as in high housing the percentage. positive as which for of rate encouraged traffic and XXXX We beyond the wrap by supply cycle, at sales among who shortage catalyst.To our capture demand supported communities. millennials driving a the of and and for to increases, a business, the we Pointe remain continue both long-term
We housing are to industry our the fuel optimistic continues for very the demand. also of about undersupply as outlook
sight, gap over prudent positions customers call financial success for our to end I dedication create coupled to diverge well no the will management, Glenn? to supply-demand growth, us with now alike.With as that, Glenn. the believe for continues value deliver our As shareholders unwavering long-term with turn and in we we continued and
