By Builder
Taylor Morrison Home Corp. reported third-quarter profit of $201 million, or $2.01 per diluted share, as the builder navigated a still-challenging housing market with a disciplined focus on pricing, incentives, and land strategy. Adjusted profit reached $211 million, or $2.11 per share.
Third-quarter home-closing revenue totaled $2 billion on 3,324 closings at an average price of $602,000, with an adjusted gross margin of 22.4%, slightly ahead of guidance. The company also gained 80 basis points of SG&A leverage, bringing expenses down to 9.0% of home-closing revenue.
“We are pleased to report strong third-quarter results despite the continuation of challenging market conditions,” said Sheryl Palmer, chairman and CEO. “Driven by our diversified portfolio and careful calibration of inventory, pricing, and pace across well-located communities, we once again met or exceeded our guidance on all key metrics.”
