TMHC (22.43) posts another nice beat for Q2 -
briefing -
Taylor Morrison Home beats by $0.11, beats on revs; guides Q3, FY19; announces entry into single-family build-to-rent community space with Christopher Todd Communities partnership (22.43 ) :
Reports Q2 (Jun) earnings of $0.76 per share, $0.11 better than the S&P Capital IQ Consensus of $0.65; revenues rose 29.0% year/year to $1.26 bln vs the $1.2 bln S&P Capital IQ Consensus.
Q3: Average active community count is expected to be between 345 and 355 Home closings are expected to be between 2,200 and 2,400. Net sales orders were 2,810, a 20% increase over the prior year quarter Home closings were 2,594, a 30% increase over the prior year quarter
FY19: Average active community count is expected to be between 350 and 360 Monthly absorption pace is expected to be consistent with 2018 performance. Home closings are expected to be between 9,600 and 10,100.
Today the Company is also announcing its entry into the single-family build-to-rent community space through a partnership with Christopher Todd Communities. "With more than 16 million single-family rental homes in the U.S. today and only five percent of that share represented by new home production, it signals an early and exciting time for this new growing segment," shared Palmer.
