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SCOTTSDALE, Ariz. - Taylor Morrison Home Corporation (NYSE:TMHC) reported fourth quarter earnings that surpassed analyst estimates, sending shares up 1.62% in early trading.
The homebuilder posted adjusted earnings per share of $2.64, beating the consensus forecast of $2.40. Revenue came in at $2.36 billion, topping expectations of $2.11 billion.
Home closings revenue increased 12% YoY to $2.2 billion, driven by a 12% rise in closings to 3,571 homes. The average closing price edged up 0.2% to $608,000.
"I am proud to share the strong results of our fourth quarter, which I believe once again distinguished our team’s execution and the merits of our diversified consumer and geographic strategy," said Sheryl Palmer, Taylor Morrison CEO and Chairman.
For the full year 2024, Taylor Morrison reported adjusted earnings of $8.72 per share on revenue of $8.17 billion.
Looking ahead, the company expects 2025 home closings between 13,500 to 14,000 units, with an average closing price of $590,000 to $600,000. Home closings gross margin is forecast at 23% to 24%.
Taylor Morrison ended 2024 with a total liquidity of $1.4 billion and a net homebuilding debt-to-capital ratio of 20%.
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