Tri Pointe Homes (TPH) reported Q1 earnings Thursday of $0.70 per diluted share, down from $1.03 a year earlier.
Analysts polled by FactSet expected $0.49.
Revenue for the quarter ended March 31 was $723.4 million, compared with $926.2 million a year earlier.
Analysts surveyed by FactSet expected $711.2 million.
Shares of the company rose 1.4% in premarket activity.