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Jun 30, 2021
Taylor Morrison Q2 2021 Earnings Report
Taylor Morrison reported strong second quarter results, including year-over-year growth in net sales orders per community and home closings gross margin.
Key Takeaways
Taylor Morrison reported a net income of $124 million, or $0.95 per diluted share, for the second quarter ended June 30, 2021. Monthly absorptions increased 23 percent to 3.4 net sales orders per community. Home closings gross margin increased 370 basis points to 19.1 percent. Backlog increased 50 percent to 10,228 sold homes with a sales value of $5.7 billion, up 78 percent.
Monthly absorptions increased 23 percent to 3.4 net sales orders per community.
Home closings gross margin increased 370 basis points to 19.1 percent.
Backlog increased 50 percent to 10,228 sold homes with a sales value of $5.7 billion, up 78 percent.
Homebuilding lot supply increased 13 percent to approximately 76,000 total lots owned and controlled.
Taylor Morrison
Taylor Morrison
Forward Guidance
Taylor Morrison expects average active community count to be approximately 330 to 335, home closings to be between 3,300 to 3,500, and GAAP home closings gross margin to be about 20 percent for the third quarter of 2021. For the full year 2021, the company expects average active community count to be approximately 330 to 335, home closings to be between 14,500 to 15,000, and GAAP home closings gross margin to be in the high-19 to 20 percent range.
Positive Outlook
- Average active community count is expected to be approximately 330 to 335 for Q3 2021.
- Home closings are expected to be between 3,300 to 3,500 for Q3 2021.
- GAAP home closings gross margin is expected to be about 20 percent for Q3 2021.
- Average active community count is now expected to be approximately 330 to 335 for full year 2021.
- Home closings are expected to be between 14,500 to 15,000 for full year 2021.