Loading...
•
Sep 30, 2020
Taylor Morrison Q3 2020 Earnings Report
Taylor Morrison reported strong Q3 2020 results, driven by a 53% year-over-year increase in net sales pace per community.
Key Takeaways
Taylor Morrison reported a robust third quarter with a 53% increase in total revenue to $1.70 billion and a 38% increase in net income to $115 million, or $0.87 per diluted share. Monthly absorptions increased 53% to 3.8 net sales per community, the highest level in the company's public history.
Monthly absorptions increased 53% to 3.8 net sales per community.
Total revenue increased 54% to $1.70 billion.
GAAP home closings gross margin equaled 17.2 percent.
Net sales orders increased 74 percent to 4,425.
Taylor Morrison
Taylor Morrison
Forward Guidance
Taylor Morrison provided guidance for the fourth quarter of 2020, including average active community count, home closings, GAAP home closings gross margin, effective tax rate, and diluted share count.
Positive Outlook
- Average active community count is expected to be approximately 375 to 380
- Home closings are expected to be about 3,050
- GAAP home closings gross margin, inclusive of capitalized interest and purchase accounting, is expected to be approximately 18 percent
- Effective tax rate is expected to be approximately 23.0 percent
- Diluted share count is expected to be approximately 131 million