Taylor Morrison Home (NYSE: TMHC) reported Q1 EPS of $1.44, $0.18 better than the analyst estimate of $1.26. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.61 billion.

Business Outlook:

Second Quarter 2022

• Ending active community count is expected to be between 310 to 315
• Home closings are expected to be between 3,000 to 3,200
• GAAP home closings gross margin is expected to be approximately 24 percent
• Effective tax rate is expected to be approximately 24 percent
• Diluted share count is expected to be approximately 122 million

Full Year 2022

• Ending active community count is expected to be around 350
• Home closings are expected to be between 14,000 to 15,000
• GAAP home closings gross margin is now expected to be at least 24.5 percent
• Average sales price is now expected to be at least $625,000
• SG&A as a percentage of home closings revenue is now expected to be in the mid-to-high eight percent range
• Effective tax rate is now expected to be approximately 24 percent
• Diluted share count is now expected to be approximately 122 million
• Homebuilding land and development spend is expected to be between $2.3 to 2.4 billion

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