Taylor Morrison Home (NYSE: TMHC) reported Q4 EPS of $0.77, $0.07 better than the analyst estimate of $0.70. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.28 billion.

Fourth Quarter 2017 Highlights:

• Sales per outlet were 2.1, an 11% increase from the prior year quarter
• Net sales orders were 1,835, an 8% increase from the prior year quarter
• Home closings were 2,697, an 11% increase from the prior year quarter
• Total revenue was $1.3 billion, a 9% increase from the prior year quarter
• Home closings gross margin, inclusive of capitalized interest, was 19.0%
• Net income was $31 million with diluted earnings per share of $0.26
• Excluding the impact of tax reform changes, adjusted net income was $91 million and adjusted diluted earnings per share was $0.77

First Quarter and Full Year 2018 Business Outlook

First Quarter 2018:

• Average active community count is expected to be between 285 to 290
• Home closings are expected to be between 1,550 to 1,650
• Home closings margin, inclusive of capitalized interest, is expected to be accretive to 2017 and be in the mid 18% range

Full Year 2018:

• Average active community count is expected to be flat to 2017
• 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 to 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% range
• SG&A as a percentage of homebuilding revenue is expected to be in the low 10% range
• Income from unconsolidated joint ventures is expected to be between $8 million to $10 million
• Land and development spend is expected to be approximately $1.1 billion
• Effective tax rate is expected to be between 25% and 27%
• Diluted share count is expected to be about 114 million

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