Taylor Morrison Home (NYSE: TMHC) reported Q1 EPS of $0.30, $0.01 better than the analyst estimate of $0.29. Revenue for the quarter came in at $769 million versus the consensus estimate of $744.85 million.
Second Quarter and Full Year 2017 Business Outlook
Second Quarter 2017:
- Average active community count is expected to be generally flat sequentially from the first quarter 2017
- Home closings are expected to be between 1,700 to 1,800
- GAAP home closings gross margin, inclusive of capitalized interest, is expected to be in the low 18% range
Full Year 2017:
- Average active community count is expected to be generally flat relative to 2016
- Monthly absorption pace is expected to be 2.3
- Home closings are expected to be between 7,600 and 8,100
- GAAP home closings gross margin, inclusive of capitalized interest, is expected to be accretive to 2016 and be in the low to mid 18% range
- SG&A as a percentage of homebuilding revenue is expected to leverage year-over-year and be in the low to mid 10% range
- Income from unconsolidated joint ventures is expected to be about $10 million
- Land and development spend is expected to be approximately $1 billion
- Effective tax rate expected to be between 34% and 35%
For earnings history and earnings-related data on Taylor Morrison Home (TMHC) click here.
