Taylor Morrison Q1 net income flat at $190M, sales orders up 29%, raises FY2024 guidance

Taylor Morrison Home Corp

2024-Q1 EPS reported $1.75 revenue$1,699,752,000

Net income $190M ($1.75 diluted EPS) vs $191M ($1.74) a year ago, essentially flat.
Net sales orders rose 29% to 3,686; monthly absorption pace of 3.7 per community vs 2.9.
Home closings gross margin improved 10 bps to 24.0%; FY2024 guidance raised to ~12,500 closings at 23.5-24.0% GM.
Repurchased 1.5M shares for $92M; Moody's upgraded credit rating to BA1 from BA2.
Expanded into Indianapolis with acquisition of ~1,500 lots from Pyatt Builders.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Taylor Morrison Home Corp reported the first quarter ended March 31, 2024 results: revenue $1.6 billion, net income $190 million, EPS $1.75 per diluted share. Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $1.6 billion
Net income: $190 million
EPS: $1.75 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

the first quarter of 2023: • Net sales orders increased 29% to 3,686, driven by a monthly absorption pace of 3.7 per community versus 2.9 a year ago • Home closings revenue of $1.6 billion, driven by 2,731 home closings at an average price of $599,000 • Home closings gross margin of 24.0% • 74,182 homebuilding lots owned and controlled, representing 6.5 years of

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Source: SEC EDGAR

accession 0001193125-24-123618

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