Taylor Morrison Home (NYSE: TMHC) reported Q1 EPS of $1.75, $0.13 better than the analyst estimate of $1.62. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.65 billion.

Business Outlook

Second Quarter 2024

Home closings are expected to be approximately 3,000
Average closing price is expected to be around $605,000
Home closings gross margin is expected to be at least 23.5%
Ending active community count is expected to be between 330 to 340
Effective tax rate is expected to be approximately 25%
Diluted share count is expected to be approximately 108 million

Full Year 2024

Home closings are now expected to be approximately 12,500
Average closing price is now expected to be between $600,000 to $610,000
Home closings gross margin is now expected to be between 23.5% to 24.0%
Ending active community count is now expected to be between 330 to 340
SG&A as a percentage of home closings revenue is expected to be in the high-9% range
Effective tax rate is expected to be approximately 25%
Diluted share count is now expected to be approximately 108 million
Land and development spend is expected to be between $2.3 billion to $2.5 billion
Share repurchases are expected to total approximately $300 million

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