Taylor Morrison Home (TMHC) Misses Q1 EPS by 1c

Taylor Morrison Home (NYSE: TMHC) reported Q1 EPS of $0.21, $0.01 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $645.3 million versus the consensus estimate of $605.58 million.

Second Quarter and Full Year 2016 Business Outlook

Second Quarter 2016:

• Average community count – expected to be generally flat sequentially to Q1 2016
• Home closings – year-over-year growth of between 10% to 15%
• GAAP home closings gross margin, including capitalized interest – expected to be in the mid 17% range

Full Year 2016:

• Average community count – expected to be between 310 to 320
• Home closings – year-over-year growth of between 10% to 15%
• GAAP home closings gross margin, including capitalized interest – expected to be in the low-to-mid 18% range
• SG&A – expected to be around 10%
• Income from unconsolidated joint ventures – expected to be between $10 million and $15 million
• Land and development spend – expected to be at or just below $1 billion
• Effective tax rate – expected to be between 33% and 35%

For earnings history and earnings-related data on Taylor Morrison Home (TMHC) click here.

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