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Tuesday, Mar 24, 2026
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Standard Pacific Slumps

Irvine-based homebuilder Standard Pacific Corp. saw its shares drop more than 6% on Friday, after reporting worse-than-expected third quarter results.

After the market closed on Thursday, Standard Pacific reported third-quarter earnings of $30.8 million, down from $96.4 million a year earlier.

Most analysts were expecting profits of up to $44 million.

Earnings were hit by an 18% decrease in completed new home sales, including a 7% decline in California.

Net new home orders for the company totaled 1,200 homes; that’s a 58% decrease from a year ago.

In Southern California, orders were off 72%.

Besides the disappointing third quarter, Standard Pacific also projected fourth-quarter and full-year earnings below analysts’ targets.

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Mark Mueller
Mark Mueller
Mark is the former Editor-in-Chief and current Community Editor of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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