By Mike Sunnucks | Phoenix Business Journal
Scottsdale-based homebuilder Taylor Morrison Home Corp. reported a first-quarter rise in profits and home sales.
Taylor Morrison (NYSE: TMHC) posted a $24.3 million first-quarter profit up from $10.3 million in 1Q 2012, according to company’s earnings released today.
The homebuilder had 1Q revenue of $381.5 million up from $239.4 million for the same quarter a year ago.
“We started the year in a position of strength, with a 136 percent increase in net income, continuing our track record of solid financial performance and adding to our trend of more than three consecutive years of profitability,” said company president and CEO Sheryl Palmer in a statement.
Taylor Morrison’s home closing revenue was $366.8 million during 1Q 2013 compared to $220.9 million in 1Q 2012.
The company’s stock was down Wednesday at trading just under $26 per share.
Taylor Morrison has developments in Arizona, California, Colorado, Florida and Texas. Its local developments include communities in Goodyear, Gilbert, Mesa and Surprise.
If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com
