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Taylor Morrison Home — Oct 23, 2024 release

Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001193125-24-241415
Open on SEC.gov ↗
Showing in the filing
Diluted share count
“approximately 106 million”
Period
Q4 FY2024
Measure
GAAP-tied
Source
Prose
All guidance in this release · 21
Annual home closings growth for FY2024
“10%”
Annual home closings growth for the long term
“10%”
Absorption pace for the long term
“an annualized low-three absorption pace”
Absorption pace
“annualized low-three”
Home closings gross margins
“low-to-mid 20%”
Home closings gross margins for the long term
“low-to-mid 20%”
Returns on equity
“mid-to-high teens”
Returns on equity for the long term
“mid-to-high teens”
Share repurchase authorization for FY2026
“up to $1 billion”
Home closings for Q4 FY2024
“approximately 3,400”
Average closing price for Q4 FY2024
“approximately $610,000”
Home closings gross margin for Q4 FY2024
“around 24.5%”
Ending active community count for Q4 FY2024
“between 330 to 340”
Effective tax rate for Q4 FY2024
“approximately 25%”
Diluted share count for Q4 FY2024
“approximately 106 million”
Home closings gross margin for FY2024
“approximately 24.3%”
SG&A as a percentage of home closings revenue for FY2024
“high-9% range”
Effective tax rate for FY2024
“between 24.5% to 25.0%”
Diluted share count for FY2024
“approximately 107 million”
Land and development spend for FY2024
“around $2.5 billion”
Share repurchases for FY2024
“approximately $300 million”
Exhibit 99.1 · the passage around this item
… earlier in the release
Business Outlook Fourth Quarter 2024     •   Home closings are expected to be approximately 3,400     •   Average closing price is expected to be approximately $610,000     •   Home closings gross margin is expected to be around 24.5%     •   Ending active community count is expected to be between 330 to 340     •   Effective tax rate is expected to be approximately 25%     •   Diluted share count is expected to be approximately 106 million Full Year 2024     •   Home closings are now expected to be approximately 12,725     •   Average closing price is now expected to be approximately $600,000     •   Home closings gross margin is now expected to be approximately 24.3%     •   Ending active community count is expected to be between 330 to 340     •   SG&A as a percentage of home closings revenue is expected to be in the high-9% range     •   Effective tax rate is now expected to be between 24.5% to 25.0%     •   Diluted share count is expected to be approximately 107 million     •   Land and development spend is now expected to be around $2.5 billion     •   Share repurchases are expected to total approximately $300 million Quarterly Financial Comparison   (Dollars in thousands)    Q3 2024     Q3 2023     Q3 2024 vs. Q3 2023   Total Revenue    $ 2,120,842     $ 1,675,545       26.6 %  Home Closings Revenue    $ 2,029,134     $ 1,611,883       25.9 %  Home Closings Gross Marg
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.