Taylor Morrison Q3 adj. EPS $1.62 beats; raises FY home closings guidance to ~11,250

Taylor Morrison Home Corp

2023-Q3 EPS reported $5.40 revenue$5,397,966,000

Net income $171M ($1.54 diluted EPS); adjusted net income $180M ($1.62 adj. EPS).
Home closings revenue $1.6B on 2,639 closings at avg price $611K; gross margin 23.1% (23.9% adj.).
Net sales orders up 25% YoY to 2,592; cancellation rate improved to 11.4% from 15.6%.
Book value per share rose 21% YoY to $46.78; S&P upgraded credit rating to BB+ with stable outlook.
Raised FY 2023 guidance: home closings ~11,250, adj. gross margin ~23.7%; repurchased 2.2M shares for $100M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Taylor Morrison Home Corp reported third quarter ended September 30, 2023 results: revenue $1.6 billion, net income $171 million, EPS $1.54 per diluted share. Guidance raised.

Period: third quarter ended September 30, 2023
Revenue: $1.6 billion
Net income: $171 million
EPS: $1.54 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

the impact of an inventory impairment and charge related to an extinguishment of debt. Third quarter 2023 highlights included the following: • Home closings revenue of $1.6 billion, driven by 2,639 home closings at an average price of $611,000. • GAAP home closings gross margin of 23.1% and 23.9% excluding an inventory impairment. • Net sales orders of

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Source: SEC EDGAR

accession 0001193125-23-262226

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