Taylor Morrison Home Corporation
Taylor Morrison Reports Second Quarter 2024 Financial Results
Summary
Taylor Morrison Home Corporation reported its second quarter 2024 financial results, revealing a net income of $199 million, or $1.86 per diluted share, with adjusted net income at $211 million, or $1.97 per diluted share. The company saw an increase in net sales orders by 3% and home closings revenue slightly decreased by 4%. Gross margin for home closings remained relatively stable at 23.8%. Taylor Morrison also repurchased 1.7 million common shares for $105 million during the quarter. The company's balance sheet showed total liquidity of $1.3 billion, including $247 million of unrestricted cash.
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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.
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