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) has appointed Lou Steffens as its new Chief Financial Officer effective January 1, 2022. Steffens, previously the President of Mergers and Acquisitions, brings over 30 years of industry experience, having led significant acquisitions that have increased the company's operational scale. He succeeds Dave Cone, who is retiring after nine years in the role. Chairwoman and CEO Sheryl Palmer expressed confidence in Steffens' ability to drive the company forward, emphasizing operational excellence in their strategic journey.
Taylor Morrison Home Corporation (NYSE: TMHC) reported a strong third quarter for 2021, with net income rising to $168 million ($1.34 per diluted share) from $115 million ($0.87 per share) in Q3 2020. Home closings gross margin improved by 400 basis points to 21.2%. Backlog surged 32% to 10,273 homes valued at $6.1 billion. Despite industry challenges causing delays, management forecasts home closings at approximately 14,000 for 2021 and anticipates gross margins above 22% in 2022. The company emphasizes capital efficiency, returning $92 million to shareholders via share repurchases.
Taylor Morrison Home Corporation, the fifth largest homebuilder in the U.S., will release its third quarter 2021 results on October 27, 2021, before the market opens. The company will host a conference call at 8:30 a.m. ET on the same day to discuss the results. Participants can access the call via a provided dial-in number or through a live audio webcast available on Taylor Morrison's investor relations website.
Taylor Morrison Home Corporation (TMHC) reported strong second-quarter results for 2021, with net income rising to $124 million or $0.95 per diluted share, compared to $65 million or $0.50 per share in Q2 2020. Gross margin on home closings increased by 370 basis points to 19.1%. Backlog surged 50% to 10,228 homes valued at $5.7 billion, marking a 78% increase. The company expects home closings to reach between 14,500 and 15,000 for the year and raised its gross margin guidance to the high-19 to 20 percent range amid ongoing supply challenges.
Taylor Morrison Home Corporation (TMHC), the fifth largest homebuilder in the U.S., will announce its second quarter 2021 results before the market opens on July 29, 2021. A conference call will follow at 8:30 a.m. ET on the same day, during which they will discuss the financial performance and results. Interested parties can access the audio webcast on Taylor Morrison's investor website, and a recording will also be available afterward. This timely update underlines Taylor Morrison's commitment to transparency and investor communication.
Taylor Morrison Home Corporation (NYSE: TMHC) announced the retirement of Dave Cone, Executive Vice President and Chief Financial Officer, expected later this year. Cone, who joined the company in 2012, has played a significant role in its growth, including completing an IPO and six acquisitions. The company is searching for his successor to maintain momentum and drive operational efficiency. Leadership expressed confidence in continued growth in the housing market, emphasizing the importance of strategic management in ensuring future shareholder value.
Taylor Morrison (NYSE: TMHC) has launched a new digital configuration and reservation system, enabling customers to purchase to-be-built homes online. This innovative tool allows buyers to select floor plans, customize homes, and make reservations entirely online, enhancing the homebuying experience. Since its launch, over 130 reservations have been made, demonstrating strong market interest. Taylor Morrison emphasizes that this system is not just a response to current market conditions but reflects evolving consumer preferences in eCommerce. The company remains committed to seamless homebuying, with expansion plans for the system nationwide.
Taylor Morrison (NYSE: TMHC) has made its debut on the Fortune 500 list, ranking No. 452, a jump of 115 spots from last year. This marks the company's first appearance on the prestigious list, highlighting its strategic growth over recent years. Chairman and CEO Sheryl Palmer expressed pride in the achievement, citing the company's commitment to quality and customer service. Taylor Morrison has also expanded into the build-to-rent market and received several accolades, including the recognition as America's Most Trusted® Home Builder for six consecutive years.
Taylor Morrison Home Corporation (NYSE: TMHC) has announced an increase of up to $250 million for its stock repurchase program, extending it through December 31, 2022. This move reflects the company's commitment to long-term value creation and is supported by a strong outlook for operating cash flow. Since 2015, Taylor Morrison has repurchased around 37 million shares for approximately $735 million, representing 31% of its outstanding shares. Future repurchases will depend on market conditions and various financial considerations.
Taylor Morrison Home Corp. (NYSE: TMHC) will participate in a fireside chat at the J.P. Morgan Homebuilding & Building Products Conference on May 20, 2021, at 11:40 AM EDT. CEO Sheryl Palmer and CFO Dave Cone will represent the company. Investors can view the presentation on the Company's Investor Relations website. Taylor Morrison operates various brands across the U.S. and has been recognized as America's Most Trusted® Builder from 2016-2021. The company emphasizes sustainability and community commitment in its operations.
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?
