Taylor Morrison Q3 2022 Earnings Report
Key Takeaways
Taylor Morrison reported a net income of $310 million, or $2.72 per diluted share, for the third quarter ended September 30, 2022. This represents an increase of 84 percent and 103 percent, respectively, compared to the third quarter of 2021. The company's performance was driven by a 12 percent increase in home closings revenue to $2.0 billion and a 630 basis points improvement in home closings gross margin to 27.5 percent.
Home closings revenue increased 12 percent to $2.0 billion.
Home closings gross margin improved 630 basis points to 27.5 percent.
SG&A as a percentage of home closings revenue improved 210 basis points to 7.4 percent.
Return on equity improved 1,300 basis points to 25.8 percent.
Taylor Morrison
Taylor Morrison
Taylor Morrison Revenue by Segment
Forward Guidance
Due to the significant level of uncertainty in the current housing market, ongoing material and labor supply issues as well as the added complexity and production delays stemming from Hurricane Ian, the company is not providing fourth quarter operational guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income