Taylor Morrison Home (TMHC) Tops Q1 EPS by 1c

Taylor Morrison Home (NYSE: TMHC) reported Q1 EPS of $0.30, $0.01 better than the analyst estimate of $0.29. Revenue for the quarter came in at $769 million versus the consensus estimate of $744.85 million.

Second Quarter and Full Year 2017 Business Outlook

Second Quarter 2017:

• Average active community count is expected to be generally flat sequentially from the first quarter 2017
• Home closings are expected to be between 1,700 to 1,800
• GAAP home closings gross margin, inclusive of capitalized interest, is expected to be in the low 18% range

Full Year 2017:

• Average active community count is expected to be generally flat relative to 2016
• Monthly absorption pace is expected to be 2.3
• Home closings are expected to be between 7,600 and 8,100
• GAAP home closings gross margin, inclusive of capitalized interest, is expected to be accretive to 2016 and be in the low to mid 18% range
• SG&A as a percentage of homebuilding revenue is expected to leverage year-over-year and be in the low to mid 10% range
• Income from unconsolidated joint ventures is expected to be about $10 million
• Land and development spend is expected to be approximately $1 billion
• Effective tax rate expected to be between 34% and 35%

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

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