Taylor Morrison Home — Jul 24, 2024 release

Palmer continued, “Our balanced and diversified approach offers improved production efficiency, enhanced gross margin and return potential, which we expect will contribute to strong results that exceed our historic performance. Our confidence in this outlook is reflected in the long-term targets that we introduced last quarter. These include: 10%-plus annual home closings growth, an annualized low-three sales pace, low-to-mid 20% home closings gross margins and mid-to-high teens returns on equity. Supported by our capital-efficient investing model, we also expect to generate sufficient cash to continue to grow our business while maintaining our strong balance sheet position and returning capital to shareholders in the form of share repurchases.”   “Our long-term targets are based on the evolution of our business to a strategically diversified, well-scaled operating platform that we believe is exceptionally well positioned to take advantage of strong housing fundamentals in the years ahead. Since expanding our company’s breadth and depth through smart and accretive growth and refining our operational capabilities through product and process optimization, I am immensely proud of our team’s execution and confident in our ability to achieve these targets on a consistent go-forward basis to deliver attractive results for our shareholders. As we head into the remainder of the year and into 2025, while we are awaiting more clarity from the Federal Reserve after next week’s meeting, we are cautiously optimistic that lower interest rates and a continuation of positive housing fundamentals has