Taylor Morrison Home Corporation
Taylor Morrison Announces Fourth Quarter and Fiscal Year 2023 Financial Results
Summary
Taylor Morrison Home Corporation reported financial results for the fourth quarter and full year of 2023. The company posted reported net income of $173 million or $1.58 per diluted share for the fourth quarter, and $769 million or $6.98 per diluted share for the full year. Adjusted net income was $223 million or $2.05 per diluted share for the fourth quarter and $830 million or $7.54 per diluted share for the full year. The company's home closings revenue decreased by 18.5% in the fourth quarter and 9.3% for the full year. Home closings gross margin increased slightly in the fourth quarter but decreased for the full year. Non-GAAP financial measures were also reported, including adjusted net income and EBITDA.
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About Taylor Morrison Home Corporation
Taylor Morrison Home Corporation is a residential homebuilder and land developer, primarily focused on providing innovative residential properties throughout the United States. As one of the country's leading public homebuilders, it specializes in the construction and sale of single-family detached and attached homes. Its portfolio caters to various segments, including first-time, move-up, and luxury homebuyers, offering them a range of housing options tailored to different life stages and budgets. Headquartered in Scottsdale, Arizona, Taylor Morrison operates under a strong brand reputation, supported by a commitment to quality craftsmanship and sustainable design. The company significantly influences the housing market in numerous states, predominantly in the South, West, and Central regions of the U.S. In addition to homebuilding, Taylor Morrison provides financial services that facilitate the homeownership process, including mortgage financing, title insurance, and closing services. The corporation plays a crucial role in the broader residential construction sector, responding to the fluctuating demands of the housing market while contributing to community developments and economic growth.
Official SEC Documents
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