Taylor Morrison Home Earnings: Here’s Why Shares are Up Now
Taylor Morrison Home Corp(NYSE:TMHC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.05%.
Taylor Morrison Home Corp Earnings Cheat Sheet
Revenue: Decreased 0% to $508.86 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Taylor Morrison Home Corp reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $-0.28. It beat the average revenue estimate of $491.08 million.
Quoting Management: “We are delighted to report improvement in virtually all key operational metrics, adding to more than three years of profitability. The results we’re releasing today continue to reflect a reward for years of diligence in managing the business during the downturn,” said Sheryl Palmer, President and CEO. “The quality of our locations and our land development capability drives the strength of our backlog, home revenue and margin growth. Our team’s conscientious implementation of our strategy and superior execution has allowed us to capitalize on the improvement in the housing market in the first half of 2013.”
Key Stats (on next page)…