Homebuilder Taylor Morrison beats Q2 revenue estimates
Overview
Taylor Morrison Q2 revenue rises 2% yr/yr, beating analyst expectations, per LSEG data
Adjusted EPS for Q2 beats consensus, reflecting effective cost management
Co repurchased 1.7 mln shares for $100 mln, indicating financial stability
Outlook
Taylor Morrison expects Q3 home closings between 3,200 to 3,300
Company sees Q3 average closing price at approximately $600,000
Taylor Morrison expects FY2025 home closings between 13,000 to 13,500
Company projects FY2025 average closing price between $595,000 to $600,000
Result Drivers
DIVERSIFIED PORTFOLIO - Co attributes performance to a diversified product portfolio serving a broad consumer base, per CEO Sheryl Palmer
PRICING STRATEGY - Focus on pricing over pace in competitive markets supports margin and returns, according to CEO Palmer
LAND POSITION - Strong land positions and customer-centric approach contribute to financial resilience, says Palmer
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $2.03 bln | $1.90 bln (9 Analysts) |
Q2 Adjusted EPS | Beat | $2.02 | $1.94 (9 Analysts) |
Q2 EPS |
| $1.92 |
|
Q2 Adjusted Net Income | Beat | $204 mln | $197 mln (9 Analysts) |
Q2 Net Income |
| $194 mln |
|
Q2 Home Closings Gross Margin |
| 22.3% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the homebuilding peer group is "buy"
Wall Street's median 12-month price target for Taylor Morrison Home Corp is $74.00, about 9.7% above its July 22 closing price of $66.82
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago
Press Release: ID:nPncxs14a
