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.
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Taylor Morrison Home Corporation (TMHC) reported its Q1 2023 results, with net income rising to $191 million, or $1.74 per diluted share, up from $177 million, or $1.44 a year prior. Home closings fell 8% to 2,541 units, generating $1.6 billion in revenue. While revenues decreased by 2.4%, home closings gross margin improved by 80 basis points to 23.9%. Net sales orders dipped 7% to 2,854, though the cancellation rate decreased to 14%. The company ended the quarter with about $2 billion in liquidity and a record low net debt-to-capital ratio of 21%. For Q2 2023, TMHC expects home closings between 2,600 to 2,700 units and a gross margin of 23.0% to 23.5%. Additionally, CFO Louis Steffens will step down effective May 1, transitioning to an EVP role.
Taylor Morrison (TMHC) is enhancing its Esplanade brand by launching the Esplanade Resort Experiences and forming a strategic partnership with Troon, a leader in hospitality management. This initiative aims to provide concierge-level services across Esplanade communities, starting in Florida and Charlotte. The focus is on delivering a superior resort-lifestyle experience with high-quality amenities and services. Since its inception in Florida a decade ago, Esplanade has expanded to nearly 30 communities nationwide. The new team, composed of hospitality experts, is dedicated to curating unique experiences for residents, aiming to elevate the lifestyle offerings significantly. This partnership is expected to bolster growth and resources for Esplanade, enhancing overall community amenities.
On April 6, 2023, Taylor Morrison (NYSE: TMHC) was recognized on the Wall Street Journal's 2022 Management Top 250 list, ranking No. 167 among homebuilders, an impressive climb of 88 spots from the previous year. This acclaim reflects the company's strength in customer satisfaction and employee engagement. As the company celebrates its 10-year anniversary as a public entity, CEO Sheryl Palmer emphasized their commitment to creating long-term value for homebuyers and shareholders. Taylor Morrison achieved over 12,600 closings in 2022, a significant increase from 4,700 at its IPO in 2013, and reached a 24% return on equity. The company is advancing its DEIB strategy and enhancing governance transparency while focusing on sustainability and community initiatives.