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Standard Pacific Corp. (SPF)

- NYSE
  • Thu, Feb. 5, 4:21 PM
    • Standard Pacific (NYSE:SPF): Q4 EPS of $0.16 beats by $0.01.
    • Revenue of $753.6M (+24.3% Y/Y) beats by $66.89M.
    • Press Release
    | Comment!
  • Thu, Jan. 15, 11:31 AM
    • The company earlier reported bottom-line results which beat estimates, but the top line slightly missed.
    • FQ4 (ending Nov. 30) deliveries of 6,950 homes gained 23% from a year ago. New orders of 5,492 homes up 22%, up 24% in dollar terms. ASP of $329K vs. $307K a year ago. Incentives of 23.1K per home, or 6.6% of home sales revenue vs. $20.6K and 6.3% a year ago.
    • Backlogs of 5,832 homes up 21%, up 22% in dollar terms.
    • Gross margins of 25.6% fell 120 basis points from a year ago. Operating margin of 16% down 90 bps.
    • Like KB Home earlier this week, Lennar (LEN -4%) warns of lower gross margins for fiscal 2015.
    • ITB -2.9%, XHB -2.2%
    • Toll Brothers (TOL -2.7%), Hovnanian (HOV -5.3%), D.R. Horton (DHI -4.9%), Ryland (RYL -4.7%), KB Home (KBH -5.5%), Pulte (PHM -4.3%) M.D.C. Holdings (MDC -5.9%), NVR (NVR -2.5%), Standard Pacific (SPF -3.2%)
    • Previously: Lennar beats by $0.11, misses on revenue (Jan. 15)
    | 3 Comments
  • Mon, Jan. 12, 11:05 AM
    • Following an upgrade from JPMorgan, Standard Pacific (SPF +5.3%) shares are heading higher.
    • The firm upgraded the stock to Neutral from Underweight, but left its PT unchanged at $8.00.
    | Comment!
  • Mon, Jan. 12, 8:02 AM
    • The president's announcement of significantly lower FHA mortgage premiums indicates easier home loan financing is on the way - a game-changer for the housing industry, says Raymond James, upgrading D.R. Horton (NYSE:DHI), KB Home (NYSE:KBH), MDC Holdings (NYSE:MDC), Ryland (NYSE:RYL), and Standard Pacific (NYSE:SPF) to Outperform from Neutral.
    • Previously: Homebuilders welcome report of lower FHA fees (Jan. 7)
    | 2 Comments
  • Tue, Jan. 6, 6:56 AM
    • Standard Pacific (NYSE:SPF) will report Q4 results on Feb. 5. The conference call is scheduled to begin at 12:00 p.m. ET on Feb. 6.
    • Consensus view is EPS of $0.15 on revenues of $693M.
    | Comment!
  • Nov. 21, 2014, 9:08 AM
    • KB Homes (NYSE:KBH), D.R. Horton (NYSE:DHI), are M.D.C. Holdings (NYSE:MDC) all have their Underperform ratings pulled, and are now Market Perform.
    • The team, however, loses patience with Standard Pacific (NYSE:SPF) after a 16% decline YTD, and downgrades to Market Perform from Outperform.
    • KBH, DHI, and MDC are all higher by more than 1% in premarket action.
    | 3 Comments
  • Oct. 30, 2014, 4:06 PM
    • Standard Pacific (NYSE:SPF): Q3 EPS of $0.14 misses by $0.01.
    • Revenue of $603.8M (+18.1% Y/Y) misses by $19.69M.
    • Press Release
    | Comment!
  • Sep. 17, 2014, 10:04 AM
    • Lennar's sizable earnings beat included a 23% gain in new orders - a strong result given the slowdown seen from some other builders.
    • Previously: Lennar up 4.3% after reporting big quarter
    • ETFs: ITB +2.6%, XHB +1.8%
    • Individual players: Ryland (RYL +4.8%) Pulte (PHM +3.8%), Toll Bros. (TOL +3.2%), D.R. Horton (DHI +4%), Hovnanian (HOV +5.8%), KB Home (KBH +4.4%), Comstock (CHCI +4.2%), Standard Pacific (SPF +3.8%).
    | 2 Comments
  • Sep. 9, 2014, 7:39 AM
    • Lennar (NYSE:LEN) and D.R. Horton (NYSE:DHI) are upgraded to Overweight, while PulteGroup (NYSE:PHM) is upgraded to Neutral following a near-9% drop YTD.
    • Downgrades from Overweight to Neutral: M/I Homes (NYSE:MHO), Meritage Homes (NYSE:MTH). Downgrades from Neutral to Underweight: M.D.C. Holdings (NYSE:MDC) and Standard Pacific (NYSE:SPF).
    | Comment!
  • Sep. 3, 2014, 10:16 AM
    • The homebuilders are lower in early action following Toll Brothers beating earnings estimates, but expressing caution on pricing power, and cutting guidance for full-year home deliveries.
    • ITB -0.8%, XHB -0.5%.
    • Individual names: Hovnanian (HOV -0.9%), Lennar (LEN -1.5%), KB Home (KBH -1.8%), PulteGroup (PHM -1.4%), D.R. Horton (DHI -1.1%), Ryland (RYL -1.5%), NVR (NVR -1.1%), Standard Pacific (SPF -1.1%).
    | 1 Comment
  • Jul. 31, 2014, 4:11 PM
    • Standard Pacific (NYSE:SPF): Q2 EPS of $0.14 misses by $0.01.
    • Revenue of $592.5M (+35.1% Y/Y) beats by $29.15M.
    • Press Release
    | Comment!
  • Jul. 24, 2014, 10:09 AM
    • The ITB is lower by 1.5% and the XHB by 0.7% with earlier earnings misses from Pulte (PHM -1.5%) and D.R. Horton (DHI -5%). and just-released disappointing new home sales data weighing. Also reporting this morning was M/I Homes (MHO -3.2%), and that company beat estimates.
    • June single-family new home sales of 406K fell 8.1% from May's rate of 442K (which was revised down from 504K). Expectations for June sales were 479K.
    • The supply of new homes rises to 5.8 months at June's sales pace from 5.2 months previously.
    • Other names: Lennar (LEN -1.6%), Ryland (RYL -2.3%), Standard Pacific (SPF -2%), Hovnanian (HOV -0.9%), Toll Brothers (TOL -2.2%).
    | 15 Comments
  • Jun. 20, 2014, 10:38 AM
    • The averages are nudging higher, but not the homebuilder names after Owens Corning cuts 2014 guidance on continued weakness in its roofing business.
    • Soft action in Q1 continued through April and May, says the company, which now sees H1 roofing volumes as much as 20% lower than 2013. Owens still expects H2 to be better, but is less confident of that forecast today than it was a few months ago.
    • ETFs: ITB -1.3%, XHB -1.2%
    • Toll Bros. (TOL -1.6%),  TriPointe Homes (TPH -1.3%), Lennar (LEN -1.6%), Ryland (RYL -1.8%), Hovnanian (HOV -0.9%), PulteGroup (PHM -1.2%), D.R. Horton (DHI -0.8%), Standard Pacific (SPF -1.8%)
    | 10 Comments
  • May 1, 2014, 4:33 PM
    • Standard Pacific Corp. (SPF): Q1 EPS of $0.09 misses by $0.04.
    • Revenue of $465.1M (+28.0% Y/Y) in-line.
    • Press Release
    | Comment!
  • Apr. 25, 2014, 4:43 AM
    • The amount that lenders originated in mortgage loans plunged 58% on year Q1 to a 14-year low of $235B, almost entirely due to drop in refinancing. The figures are from industry newsletter Inside Mortgage Finance.
    • Loans for acquisitions were flat on year and lower than in Q4.
    • The trend is the latest indication that increasing interest rates are hampering the housing recovery. The average 30-year fixed-rate mortgage was 4.5% last week, up from 3.6% in May last year, when rates spiked after the Fed indicated it would scale back its QE program.
    • Tickers: DHI, PHM, RYL, MHO, NVR, LEN, SPF, MDC, HOV, TOL ORI, NLY, AGNC, MTGE, ARR, TWO, IVR, CMO, MFA, WMC, FMCC, FNMA, RDN, NMIH, ESNT, GNW
    • ETFs/ETNs: ITB, XHB, MORT, MORL, REM, MORT, MORT
    | 9 Comments
  • Apr. 24, 2014, 1:21 PM
    • The iShares DJ U.S. Home Construction ETF (ITB +2.7%) gains as earnings roll in from D.R. Horton, PulteGroup, Ryland, and M/I Homes. While PulteGroup saw slowdowns in closings and new orders, but offsetting increases in prices, D.R. Horton reported sales, new orders, and prices all on the rise. DHI is ahead 8%, Pulte 3%, Ryland (RYL +2.2%), M/I Homes (MHO +5.9%).
    • The SPDR S&P Homebuilders ETF (XHB +1.2%) is more of a homebuilding supply play.
    • Other builders: NVR (NVR +3.4%), Lennar (LEN +3.5%) Standard Pacific (SPF +2.8%), M.D.C. Holdings (MDC +3.2%), Hovnanian (HOV +2.5%), Toll Bros (TOL +4.2%).
    | Comment!
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Company Description
Standard Pacific Corp is engaged in the business of constructing single-family attached and detached homes with operations in the metropolitan markets in California, Florida, Arizona, Texas, the Carolinas and Colorado.