Welcome to our dedicated page for Taylor Morrison Home Corporation news (Ticker: TMHC), a resource for investors and traders seeking the latest updates and insights on Taylor Morrison Home Corporation stock.
Taylor Morrison Home Corporation (NYSE: TMHC) is a premier national homebuilder and land developer, headquartered in Scottsdale, Arizona. Recognized as America’s Most Trusted™ Home Builder from 2016 to 2024 by Lifestory Research, Taylor Morrison builds and sells a diverse range of single-family and multi-family homes across various price points, catering to different consumer demographics including first-time buyers, move-up buyers, luxury homebuyers, and the 55-plus segment.
Operating under the well-regarded brands of Taylor Morrison and Darling Homes, the company is dedicated to creating homes and communities that elevate the quality of life for residents. In Texas, Darling Homes is known for its focus on individuality and custom details, maintaining the high standards set by Taylor Morrison. The company's homes range in price from the low $100,000s to over $1,000,000, designed to meet the needs and preferences of a broad consumer base.
Recent achievements include strong financial performance, with reported net income for the third quarter of 2023 at $171 million, or $1.54 per diluted share. The company closed over 2,600 homes with an adjusted home closings gross margin of 23.9%. Additionally, Taylor Morrison has been actively investing in land, retiring debt, and repurchasing shares, ending the quarter with a substantial liquidity position of $1.6 billion.
The company’s diverse business model includes four reportable segments: East, Central, West, and Financial Services, with the majority of its revenue coming from the East Segment. Taylor Morrison's strategic approach includes a balanced product portfolio and a focus on high-quality community locations. Recent expansions, such as the acquisition of 1,500 lots in Indianapolis, Indiana, emphasize the company's commitment to growth and geographic diversification.
In addition to homebuilding, Taylor Morrison is recognized for its robust commitment to sustainability and community engagement, as detailed in its annual Environmental, Social, and Governance (ESG) Report. The company’s focus on operational efficiency, strategic land investments, and financial strength positions it well for continued success in a competitive market.
Taylor Morrison Home Corporation (TMHC) and Värde Partners have rapidly expanded their Build-to-Rent joint venture, closing nine assets across Texas, Florida, North Carolina, and Arizona in just weeks. The venture includes $850 million in equity commitments, with funding split 60% from Värde and 40% from Taylor Morrison. This initiative is expected to enhance Taylor Morrison's Build-to-Rent program, which aims to meet the growing demand for quality rental housing in suburban areas. The firms previously established a land banking facility agreement, acquiring 6,800 lots across 11 markets.
Taylor Morrison Home Corporation (NYSE: TMHC) has initiated a cash tender offer to purchase all outstanding 6.625% senior notes due 2027, totaling $290.4 million. The offer includes a consent solicitation for amendments to the indenture, aiming to alter the notice period for optional redemption from 15 days to a minimum of 3 business days and to eliminate certain covenants. The expiration date for the tender offer is July 12, 2022, with early tender benefits available until June 27, 2022. Accrued interest will be paid on notes accepted for purchase.
Taylor Morrison Home Company (NYSE: TMHC) has acquired a +/- 15-acre parcel in Anna, Texas, in collaboration with Christopher Todd Communities. The site, positioned at a key intersection near national retailers, will feature innovative single-story rental homes and amenities such as a resort-style pool, outdoor event space, and a dog park. The approval of this project involved cooperative efforts with local stakeholders, enhancing housing options in the area.
Taylor Morrison Home Corporation (NYSE: TMHC) has announced a significant increase in its stock repurchase program, raising the available amount for repurchases from $250 million to $500 million until December 31, 2023. This decision, endorsed by the Board of Directors, aims to enhance shareholder value and reflects the company's strong cash flow and solid balance sheet. The repurchase strategy will be conducted in open market purchases and negotiated deals, factoring in market conditions, liquidity, and planned investments.
Taylor Morrison Home Corporation (TMHC) reported robust Q1 2022 results with net income rising to $177 million, or $1.44 per diluted share, marking increases of 80% and 92% from Q1 2021. Home closings revenue grew 21% to $1.6 billion, bolstered by improved gross margins at 23.1%. Despite a 7% decrease in backlog to 9,400 homes, the average sales price surged 24% to $659,000. The company reaffirmed its 2022 guidance, projecting home closings between 14,000 to 15,000, and raising gross margin expectations to over 24.5%. Liquidity remains strong at $1.4 billion.
Taylor Morrison Home Corporation (NYSE: TMHC) is set to release its first quarter 2022 results on April 27, 2022, before market opening. Following the announcement, a conference call will be held at 8:30 a.m. ET to discuss the results. The call will be accessible via a live audio webcast on the company's investor relations website, with a recording available for replay later. Taylor Morrison serves diverse consumers across the U.S., with brands catering to various homebuyer needs.
Taylor Morrison (NYSE: TMHC) is making significant strides in enhancing gender diversity within its workforce, achieving near parity with 54% male and 46% female representation. The company has seen a 21% increase in women in construction roles and earned a spot in Bloomberg's Gender-Equality Index for the fourth year. Collaborating with the Building Talent Foundation, Taylor Morrison aims to improve education and career progression for young individuals in the trades, with women making up 5.7% of placements compared to the industry average of 3.1%.
Taylor Morrison Home Corporation (TMHC) reported strong fourth-quarter results for 2021, with net income of $273 million and $2.19 per diluted share, marking year-over-year increases of 189% and 204%, respectively. Homes closed surged by 39% to 4,283, and total revenue rose 61% to $2.4 billion. Despite a 16% decline in net sales orders, backlog grew 9% to 9,114 sold homes. For 2022, the company anticipates gross margin of at least 23.5% and plans to deliver between 14,000 to 15,000 homes.
Taylor Morrison Home Company (NYSE: TMHC) has finalized the acquisition of approximately 20 acres of land in Melissa, Texas, in collaboration with Christopher Todd Communities. This site will be developed as a mixed-use project, featuring residential and commercial spaces, including a private amenity center and retail components. The project received unanimous approval from the City of Melissa and supports the extension of Melissa Road for improved access to the 2,000-acre Trinity Falls community.
FAQ
What is the current stock price of Taylor Morrison Home Corporation (TMHC)?
What is the market cap of Taylor Morrison Home Corporation (TMHC)?
What does Taylor Morrison Home Corporation do?
Where is Taylor Morrison Home Corporation headquartered?
What are the main brands under Taylor Morrison Home Corporation?
How has Taylor Morrison performed financially recently?
What consumer segments does Taylor Morrison serve?
What is Taylor Morrison's approach to sustainability?
What recent expansions has Taylor Morrison undertaken?
How does Taylor Morrison ensure high quality in its homes?
What are Taylor Morrison's financial service offerings?
How does Taylor Morrison cater to different price points in the housing market?
