Welcome to our dedicated page for Taylor Morrison Home news (Ticker: TMHC), a resource for investors and traders seeking the latest updates and insights on Taylor Morrison Home stock.
Taylor Morrison Home Corporation reports developments as a national land and community developer and homebuilder serving first-time, move-up and resort lifestyle homebuyers and renters. Its updates commonly cover home closings, average sales prices, gross margins, sales orders, community sales pace, backlog, land owned and controlled, and guidance across its homebuilding and financial services activities.
Company news also includes activity tied to the Taylor Morrison, Esplanade and Yardly brands, including consumer-segment commentary, marketing campaigns, partnerships, share repurchase authorizations and board composition updates.
The Building Talent Foundation (BTF) launched to enhance education and career opportunities in construction for underrepresented groups, aiming to fill the labor shortage in the sector. Founded by the Leading Builders of America, BTF's mission is to recruit 100,000 individuals by 2030. This initiative responds to the industry's recovery with over 260,000 open positions and aims to address workforce challenges through collaboration with educators, employers, and community organizations. BTF's strategy focuses on building a talent pipeline, connections, and engagement, promoting fair treatment and diversity within the industry.
Taylor Morrison Home Corporation, the fifth largest homebuilder in the U.S., will announce its third quarter 2020 financial results before market open on October 28, 2020. A conference call to discuss these results is scheduled for the same day at 8:30 a.m. ET. Investors can access a live audio webcast and an archived version on the company's website. The company, recognized as America's Most Trusted® Home Builder from 2016-2020, operates under brands like Taylor Morrison and Darling Homes, catering to a broad range of buyers across the country.
Taylor Morrison Home Corporation (TMHC) reported a significant increase in net sales orders for August 2020, up 74% year-over-year. The company also achieved an average sales pace growth of over 50% per community during the same month. In a bid to strengthen its financial position, TMHC announced a cash paydown of approximately $187 million in senior notes, contributing to a total debt reduction of around $335 million since its acquisition of William Lyon Homes in February 2020. This reflects strong housing demand despite ongoing economic challenges.
Taylor Morrison (NYSE:TMHC) has announced TM LiveWell, a new standard offering for all new homes starting August 1, 2020. This initiative aims to enhance home health and wellness, responding to increased consumer demand for safer living environments amid COVID-19. The program includes features like a Whole-House Air Filtration System and antibacterial bath fans at no additional cost. A survey revealed that over one-third of home shoppers prefer new homes for health benefits, with significant interest from younger generations.
Taylor Morrison Home Corporation (TMHC) reported strong second quarter 2020 results with adjusted diluted EPS of $0.80 and GAAP diluted EPS of $0.50. Key highlights include a 23% year-over-year increase in net sales orders to 3,453 and total revenue of $1.53 billion, up 20.6%. Home closings rose 24% to 3,212. The company successfully refinanced debt with a $500 million bond offering, saving $10 million annually in interest. The backlog grew 35% year-over-year, valued at approximately $3.2 billion. Despite a decline in gross margin percentages, the company remains optimistic about future growth.
Taylor Morrison Home Corporation will release its second quarter 2020 results on July 30, 2020, before the market opens. A conference call to discuss these results will take place at 8:30 a.m. ET on the same day. Interested participants can join the call using the provided dial-in numbers or via a live audio webcast accessible on Taylor Morrison's investor relations website. The company is recognized as a leading homebuilder in the U.S., known for its commitment to sustainability and community-focused initiatives.
Taylor Morrison Home Corporation (NYSE: TMHC) has announced a pricing increase for its senior notes offering, raising the aggregate principal amount from $400 million to $500 million. The Senior Notes, set to mature in 2030 and bearing an interest rate of 5.125% annually, will have semi-annual payments starting February 1, 2021. The offering closes on July 22, 2020, and proceeds will be used to redeem $266.9 million of its 6.00% Senior Notes due 2023 and $333.1 million of its 5.875% Senior Notes due 2025.
Taylor Morrison Home Corporation (TMHC) announced plans to offer $400 million of senior notes due 2030, aiming to utilize proceeds along with cash to redeem approximately $222.4 million of 6.00% senior notes due 2023 and $277.6 million of 5.875% senior notes due 2025. The new senior notes will be unsecured, guaranteed by TMHC's subsidiaries, and offered to qualified institutional buyers under Rule 144A. The issuance has not been registered under the Securities Act, and this announcement does not constitute an offer to sell or buy the notes.
Taylor Morrison Home Corp. (NYSE: TMHC) reported record-breaking net sales orders of 1,715 in June 2020, reflecting a 94% year-over-year increase. The company achieved a monthly sales pace of 4.3, making it the best in its history. For Q2 2020, net sales orders rose approximately 23% year-over-year, with closings at 3,212, a 24% increase from 2019. The sales order backlog reached 6,805 homes valued at $3.2 billion. The company attributes its success to a swift transition to virtual selling and historically low interest rates in the housing market.