Taylor Morrison Home (TMHC) Tops Q2 EPS by 3c

Taylor Morrison Home (NYSE: TMHC) reported Q2 EPS of $0.52, $0.03 better than the analyst estimate of $0.49. Revenue for the quarter came in at $981 million versus the consensus estimate of $923.68 million.

Third Quarter and Full Year 2018 Business Outlook for Taylor Morrison Only

Third Quarter 2018:

• Average active community count is expected to be between 270 and 275
• Home closings are expected to be between 2,050 to 2,150
• Home closings margin, inclusive of capitalized interest, is expected to be in the mid-to-high 18 percent range

Full Year 2018:

• Average active community count is expected to be between 280 and 285
• Monthly absorption pace is expected to be between 2.4 to 2.5 per outlet on average
• Home closings are expected to be between 8,400 and 8,800
• Home closings gross margin, inclusive of capitalized interest, is expected to be accretive to 2017 and be in the mid to high 18 percent range
• SG&A as a percentage of homebuilding revenue is expected to be in the low 10 percent range
• Income from unconsolidated joint ventures is expected to be between $8 million and $10 million
• Land and development spend is expected to be approximately $1.1 billion
• Effective tax rate is expected to be between 24 and 26 percent
• Diluted share count is expected to be about 114 million

For earnings history and earnings-related data on Taylor Morrison Home (TMHC) click here.

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