Taylor Morrison Home (NYSE: TMHC) reported Q3 EPS of $1.01, $0.40 better than the analyst estimate of $0.61. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.44 billion.

Business Outlook:

Fourth Quarter 2020

• Average active community count is expected to be approximately 375 to 380
• Home closings are expected to be about 3,050
• GAAP home closings gross margin, inclusive of capitalized interest and purchase accounting, is expected to be approximately 18 percent
• Effective tax rate is expected to be approximately 23.0 percent
• Diluted share count is expected to be approximately 131 million

Full Year 2020

• Average active community count is expected to be approximately 385 to 390
• Home closings are expected to be approximately 12,500
• GAAP home closings gross margin, inclusive of capitalized interest and purchase accounting, is expected to be in the mid-16 percent range
• SG&A as a percentage of home closings revenue is expected to be in the high-nine percent range
• Effective tax rate is expected to be approximately 24.5 percent
• Diluted share count is expected to be approximately 129 million
• Land and development spend is expected to be approximately $1.4 billion to $1.5 billion

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