Taylor Morrison reports $59 million Q2 profit

For the second quarter, net sales orders were 2,342 with an average community count of 297.

By Leah Demirjian | Builder

Taylor Morrison Home Corporation (NYSE: TMHC) today reported second quarter total revenue of $981 million and home closings gross margin, inclusive of capitalized interest, of 18% leading to diluted earnings per share of $0.52.

Among the Q2 2018 highlights:

  • Sales per outlet were 2.6
  • Net sales orders were 2,342
  • Home closings were 1,992
  • Total revenue was $981 million
  • Home closings gross margin, inclusive of capitalized interest, was 18%
  • Net income was $59 million with diluted earnings per share of $0.52

“Our teams across the country once again delivered a solid quarter meeting or exceeding all points of our guidance,” says chairman and CEO, Sheryl Palmer. “We closed 1,992 homes, nearly a 7% increase over the prior year and above our guidance range of 1,800-1,900. Our home closings gross margin was 18%, in line with guidance, and especially encouraging knowing we didn’t sacrifice margin for the additional closings.”

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