Taylor Morrison Home Corporation (TMHC) surged to 7.85% in the aftermarket. However, the last trading session closed at $27.1 with a decline of 0.51%.
Dallas Business Journal’s Best Real Estate Deals Award
On 30th September 2021, TMHC announced that Green Brick Partners, Inc. Taylor Morrison, and Dallas-based Davidson Bogel Real Estate (DB2RE) won the Best Land Transaction award for the Madero residential development. Moreover, the 895-acre master-planned society will feature a variety of amenities. Not only this but there will be two amenity centers with resort-style pools, expansive green spaces with walking trails, parks, and a neighborhood retail area.
Furthermore, Madero is located between I-35W, HWY 287, and SH-114 in north Fort Worth, in one of DFW’s fastest expanding neighborhoods. TMHC had excellent success in adjacent Cibolo Hills, and they expect a similar response from Madero purchasers. However, the company is ecstatic to be recognized by the Dallas Business Journal, and they look forward to offering excellent homes in the amenity-rich community under our Trophy Signature Homes brand.
Third Quarter 2021 Results to be released soon
TMHC announced on 29th September 2021 that the company is about to release the third-quarter 2021 earnings report on 27th October 2021. On the same day, at 8:30 a.m. ET, Taylor Morrison will host a conference call to announce its third-quarter results. Taylor Morrison’s website, investors.taylormorrison.com, will include a live audio webcast as well as a conference call archive.
TMHC reported Second Quarter 2021 Results
TMHC reported second-quarter 2021 results on 29th July 2021. In the second quarter of 2020, the company reported a net income of $124 million, or $0.95 per diluted share, up from $65 million, or $0.50 per diluted share, in the first quarter.
In comparison to the prior-year quarter, the Company’s second-quarter results were as follows:
- The number of net sales orders per community grew by 23% to 3.4 each month.
- The gross margin on home sales grew by 370 basis points to 19.1%.
- The overall number of homebuilding lots owned and controlled grew by 13% to almost 76,000.
- The proportion of controlled lots in overall supply grew by 700 basis points to 35 percent. The backlog grew by 50% to 10,228 sold properties for $5.7 billion, a 78 percent rise.
TMHC tactfully handled its sales activity during the quarter by delaying the release of lots to maximize its profitability opportunity. Moreover, they also accelerated the production schedule pace by over 140 percent to a record 4.8 starts per community. Despite the well-known supply-side issues confronting the sector, they are confident enough in their rigorous strategy to boost the 2021 home closings gross margin projection to the high-19 to 20% range. Lastly, they worked hard to confirm their closings target of 14,500 to 15,000 deliveries.
