Taylor Morrison Home (NYSE: TMHC) reported Q3 EPS of $0.45, $0.02 better than the analyst estimate of $0.43. Revenue for the quarter came in at $908 million versus the consensus estimate of $906.31 million.

Third Quarter 2017 Highlights:

• Home closings were 1,842, a 6% increase from the prior year quarter
• Total revenue was $908 million, a 6% increase from the prior year quarter
• GAAP home closings gross margin, inclusive of capitalized interest, was 18.6%
• Net income for the quarter was $54 million with diluted earnings per share of $0.45
• Backlog units at the end of the quarter were 4,359 with a sales value of $2.1 billion, a 13% increase from the prior year quarter

Full Year 2017 Business Outlook

• Average active community count is expected to be about 300
• Monthly absorption pace is expected to be at least 2.3 per outlet on average
• Home closings remains unchanged but on the lower end of the range at 7,850
• GAAP home closings gross margin, inclusive of capitalized interest, is expected to be accretive to 2016 and be in the 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.