Taylor Morrison Home (NYSE: TMHC) reported Q1operating EPS of $0.33, $0.06 better than the analyst estimate of $0.27. Revenue for the quarter came in at $509 million versus the consensus estimate of $531.17 million.

Highlights:

• Average community count increased 22% to 228 average communities from 187 in the prior year quarter
• Net sales orders increased over 14% to 1,729
• Home closings were 1,063
• Backlog of homes under contract was 2,918 units, with a sales value of $1.4 billion as of March 31, 2015
• Cancellations as a percentage of gross sales orders were 11.9%, compared to 11.4% in the prior year quarter
• Average price of homes closed increased 7% to $464,000
• Average monthly absorption pace was 2.5
• Mortgage operations reported gross profit of $2.6 million on revenue of $7.6 million

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