Taylor Morrison Home (TMHC) Tops Q3 EPS by 3c; Guides FY17
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Taylor Morrison Home (NYSE: TMHC) reported Q3 EPS of $0.49, $0.03 better than the analyst estimate of $0.46. Revenue for the quarter came in at $853 million versus the consensus estimate of $863.09 million.
Full Year 2016 Business Outlook
- Average community count is expected to be about 310
- Monthly absorption pace is expected to be between 2.0 and 2.2
- Home closings are expected to be between 7,100 and 7,300
- GAAP home closings gross margin, inclusive of capitalized interest, is expected to be in the low to mid 18% range
- SG&A as a % of homebuilding revenue is expected to be in the mid 10% range
- Income from unconsolidated joint ventures is expected to be between $7 million and $8 million
- Land and development spend is expected to be approximately $800 million
- Effective tax rate – expected to be between 34% and 35%
For earnings history and earnings-related data on Taylor Morrison Home (TMHC) click here.
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