(Disclosure: Rose Law Group represents Taylor Morrison.)
By Vincent Salandro | Builder
Taylor Morrison’s record levels of profitability and operational performance were highlights of a strong fourth quarter and a “historic year,” chairman and CEO Sheryl Palmer shared during the home builder’s latest earnings call.
“Having expanded our market footprint and product position in recent years through our acquisitions and smart organic growth, we serve a broad range of customers in the entry-level, first and second move-up, and resort lifestyle segments across the country,” Palmer told investors. “We have a dynamic and flexible operating strategy that allows us to best serve each of these segments and respond quickly to market conditions community by community to maximize our performance.”
Taylor Morrison’s flexible strategic approach allowed the company to adjust its pricing strategies, starts volume, and land investments to minimize risk throughout 2022 as interest rates began to rise, according to Palmer. The firm—ranked No. 5 on the 2022 Builder 100 list—reported home closings revenue declined less than 1% on a year-over-year basis to $2.4 billion in the fiscal fourth quarter, driven by an 11% decrease in home closings and offset by a 12% increase in the average closing price. For the full fiscal year, home closings revenue was $7.9 billion, a 10% increase on a year-over-year basis compared with the 2021 fiscal year.
