Taylor Morrison Q4 net income $173M ($1.58 EPS); FY2023 EPS $6.98; guides FY2024 closings ≥12,000 at 23-23.5% margin

Taylor Morrison Home Corp

2023-FY EPS reported $6.98 revenue$7,417,831,000

Q4 home closings revenue $1.9B, down 19% YoY; net sales orders up 30% to 2,361 at 2.4/month absorption.
Adjusted diluted EPS $2.05 in Q4, $7.54 for FY2023; reported EPS $1.58 and $6.98 respectively.
FY2024 guidance: at least 12,000 closings, avg price ~$600K, gross margin 23.0-23.5%, land spend $2.3-2.5B.
Board authorized ~$300M share repurchase in 2024; $494M remaining on prior authorization; 2.8M shares repurchased for $128M in FY2023.
Homebuilding debt-to-capital improved to 26.0% gross and 16.8% net; total liquidity $1.8B.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Taylor Morrison Home Corp reported the fourth quarter and year ended December 31, 2023 results: net income $173 million, or $1.58 per diluted share, EPS $1.58 per diluted share. Guidance reaffirmed.

Period: the fourth quarter and year ended December 31, 2023
Net income: $173 million, or $1.58 per diluted share
EPS: $1.58 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reported net income in the fourth quarter was $173 million, or $1.58 per diluted share while adjusted net income was $223 million, or $2.05 per diluted share. For the full year 2023, reported net income was $769 million, or $6.98 per diluted share, while adjusted net income was $830 million, or $7.54 per diluted share.

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Source: SEC EDGAR

accession 0001193125-24-034849

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