Quarterly Financial Comparison
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Dollars in thousands) |
|
Q1 2025 |
|
|
Q1 2024 |
|
|
Q1 2025 vs. Q1 2024 |
|
| Total Revenue |
|
$ |
1,896,019 |
|
|
$ |
1,699,752 |
|
|
|
11.5 |
% |
| Home Closings Revenue, Net |
|
$ |
1,830,068 |
|
|
$ |
1,636,255 |
|
|
|
11.8 |
% |
| Home Closings Gross Margin |
|
$ |
438,708 |
|
|
$ |
393,046 |
|
|
|
11.6 |
% |
|
|
|
24.0 |
% |
|
|
24.0 |
% |
|
|
0 bps change |
|
| Adjusted Home Closings Gross Margin |
|
$ |
453,586 |
|
|
$ |
393,046 |
|
|
|
15.4 |
% |
|
|
|
24.8 |
% |
|
|
24.0 |
% |
|
|
80 bps increase |
|
| SG&A |
|
$ |
176,624 |
|
|
$ |
170,164 |
|
|
|
3.8 |
% |
| % of Home Closings Revenue |
|
|
9.7 |
% |
|
|
10.4 |
% |
|
|
70 bps decrease |
|
Earnings Conference Call Webcast
Taylor Morrison will hold a conference call to discuss its results today at 8:30 a.m. ET. A live audio webcast of the conference call will be available
on Taylor Morrison’s website at www.taylormorrison.com on the Investor Relations portion of the site under the Events tab. Call participants are asked to register for the event here to receive a unique passcode and dial-in information. The call will be recorded and available for replay on the Company’s website.
About
Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We
serve a wide array of consumers from coast to coast, including first-time, move-up and resort lifestyle homebuyers and renters under our family of brands—including Taylor Morrison, Esplanade and Yardly.
From 2016 to 2025, Taylor Morrison has been recognized as America’s Most Trusted® Builder by Lifestory Research. Our long-standing commitment to sustainable operations is highlighted
in our annual Sustainability and Belonging Report.
For more information about Taylor Morrison, please visit www.taylormorrison.com.
Forward-Looking Statements
This earnings summary
includes “forward-looking statements.” These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we
serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally
discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words ““anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,”
“believe,” “may,” “will,” “can,” “could,” “might,” “should” and similar expressions identify forward-looking statements, including statements related to expected financial,
operating and performance results, planned transactions, planned objectives of management, future developments or conditions in the industries in which we participate and other trends, developments and uncertainties that may affect our business in
the future.
Such risks, uncertainties and other factors include, among other things: inflation or deflation; changes in general and local economic
conditions; slowdowns or severe downturns in the housing market; homebuyers’ ability to obtain suitable financing; increases in interest rates, taxes or government fees; shortages in, disruptions of and cost of labor; higher cancellation rates
of existing agreements of sale; competition in our industry; any increase in unemployment or underemployment; the seasonality of our business; the physical impacts of climate change and the increased focus by third-parties on sustainability issues;
our ability to obtain additional performance, payment and completion surety bonds and letters of credit; significant home warranty and construction defect claims; our reliance on subcontractors; failure to manage land acquisitions, inventory and
development and construction processes; failure to develop and maintain relationships with suitable land banks; availability of land and lots at competitive prices; decreases in the market value of our land inventory; new or changing government
regulations and legal challenges; our compliance with environmental laws and regulations regarding climate change; our ability to sell mortgages we originate and claims on loans sold to third parties; governmental regulation applicable to our
financial services and title services business; the loss of any of our important commercial lender relationships; our ability to use deferred tax assets; raw materials and building supply shortages and price fluctuations, including as a result of
tariffs; our concentration of significant operations in certain geographic areas; risks associated with our unconsolidated joint venture arrangements; information technology failures and data security breaches; costs to engage in and the success of
future growth or expansion of our operations or acquisitions or disposals of businesses; costs associated with our defined benefit and defined contribution pension schemes; damages associated with any major health and safety incident; our ownership,
leasing or occupation of land and the use of hazardous materials; existing or future litigation, arbitration or other claims; negative publicity or poor relations with the residents of our communities; failure to recruit, retain and develop highly
skilled, competent people; utility and resource shortages or rate fluctuations; constriction of the capital markets; risks related to instability in the banking system; risks associated with civil unrest, acts of terrorism, threats to national
security, the conflicts in Eastern Europe and the Middle East and other geopolitical events; the scale and scope of current and future public health events, including pandemics and epidemics; any failure of lawmakers to agree on a budget or
appropriation legislation to fund the federal government’s operations (also known as a government shutdown), and financial markets’ and businesses’ reactions to any such failure; risks related to our substantial debt and the
agreements governing such debt, including restrictive covenants contained in such agreements; our ability to access the capital markets; the risks associated with maintaining effective internal controls over financial reporting; provisions in our
charter and bylaws that may delay or prevent an acquisition by a third party; and our ability to effectively manage our expanded operations.
In addition,
other such risks and uncertainties may be found in our most recent annual report on Form 10-K and our subsequent quarterly reports filed with the Securities and Exchange Commission (SEC) as such factors may be
updated from time to time in our periodic filings with the SEC. We undertake no duty to update any forward-looking statement, whether as a result of new information, future events or changes in our expectations, except as required by applicable law.
