Taylor Morrison Home (NYSE: TMHC) reported Q1 EPS of $0.41, $0.04 better than the analyst estimate of $0.37. Revenue for the quarter came in at $752 million versus the consensus estimate of $785.62 million.

First Quarter 2018 Highlights:

• Sales per outlet were 2.8
• Net sales orders were 2,443
• Home closings were 1,547
• Total revenue was $752 million
• Home closings gross margin, inclusive of capitalized interest, was 18.8 percent
• Net income was $47 million with diluted earnings per share of $0.41

Second Quarter and Full Year 2018 Business Outlook

Second Quarter 2018:

• Average active community count is expected to be between 295 to 300
• Home closings are expected to be between 1,800 to 1,900
• Home closings margin, inclusive of capitalized interest is expected to be approximately 18 percent

Full Year 2018:

• Average active community count is expected to be flat compared 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 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 to $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.