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Sep 30, 2024
Taylor Morrison Q3 2024 Earnings Report
Taylor Morrison's financial performance improved with increased EPS and net sales orders.
Key Takeaways
Taylor Morrison reported a strong third quarter in 2024, with net income of $251 million and diluted EPS of $2.37, driven by top-line growth and improved margins. Net sales orders increased by 9%, and home closings revenue reached $2.0 billion.
Diluted EPS increased 54% to $2.37.
Net sales orders increased 9% to 2,830.
Home closings revenue reached $2.0 billion with 3,394 closings.
Home closings gross margin improved to 24.8%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Taylor Morrison provided guidance for the fourth quarter and full year 2024, anticipating continued growth and strong financial performance.
Positive Outlook
- Home closings are expected to be approximately 3,400 in Q4 2024.
- Average closing price is expected to be approximately $610,000 in Q4 2024.
- Home closings gross margin is expected to be around 24.5% in Q4 2024.
- Ending active community count is expected to be between 330 to 340 in Q4 2024.
- Home closings are now expected to be approximately 12,725 for full year 2024.
Challenges Ahead
- Effective tax rate is expected to be approximately 25% in Q4 2024.
- Diluted share count is expected to be approximately 106 million in Q4 2024.
- Average closing price is now expected to be approximately $600,000 for full year 2024.
- Home closings gross margin is now expected to be approximately 24.3% for full year 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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