Taylor Morrison Home — Oct 23, 2024 release

This is reflected in the long-term targets that we introduced earlier this year, each of which are meaningfully stronger than our historic norms. These targets include: 10% annual home closings growth, an annualized low-three absorption pace, low-to-mid 20% home closings gross margins, and mid-to-high teens returns on equity.” “This year, with just over two months to go, we expect to meet or exceed each of these metrics with anticipated double-digit closings growth to approximately 12,725 homes at a home closings gross margin of around 24.3% as 2024 has shaped up to be another milestone year for our company. As we head into 2025, we are confident that our long-standing emphasis on capital-efficient growth will yield another year of strong performance, supported by tailwinds driving the need for new construction and our favorable positioning as a diversified homebuilder,” said Palmer. Business Highlights (All comparisons are of the current quarter to the prior-year quarter, unless indicated.) Homebuilding     •   Home closings revenue increased 26% to $2.0 billion, driven by a 29% increase in closings to 3,394 homes, which was partially offset by a 2% decrease in the average price to $598,000.     •   The home closings gross margin was 24.8%, which was up 170 basis points from 23.1% in the prior-year quarter.     •   Net sales orders increased 9% to 2,830, driven by a 5% increase in ending community count to 340 outlets and a 4% in