Taylor Morrison Home (TMHC) Tops Q2 EPS by 4c, Offers Outlook

Taylor Morrison Home (NYSE: TMHC) reported Q2 EPS of $0.37, $0.04 better than the analyst estimate of $0.33. Revenue for the quarter came in at $854.3 million versus the consensus estimate of $793.63 million.

Third Quarter and Full Year 2016 Business Outlook

Third Quarter 2016:

• Average community count – expected to be flat sequentially to the second quarter of 2016
• Home closings – expected to be between 1,700 and 1,800
• GAAP home closings gross margin, including capitalized interest – expected to be about 18%

Full Year 2016:

• Average community count – expected to be between 310 and 320
• Home closings – year-over-year growth expected to be between 10% and 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% of homebuilding revenue
• 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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