Taylor Morrison Home — Apr 23, 2025 release

The path there will not be a straight line as we navigate the market—with 2025 now expected to represent a speed bump on our path there; however, we believe our disciplined underwriting and attractive product positioning is strongly supportive of a business capable of generating low-to-mid 20% home closings gross margins and high-teen returns on equity over time. Additionally, we continue to believe the market overall remains under-supplied and demographics supportive of the strong need for new construction. In aspiring to reach 20,000 closings, we will prioritize bottom-line earnings and returns for our shareholders while always maintaining the health of our balance sheet. We are not interested in growth for growth’s sake. As our strategy has proven over the last decade-plus, we seek to maximize long-term return potential by thoughtfully balancing both pace and price through a uniquely diversified portfolio that is well positioned to withstand housing’s cyclicality.” First Quarter Business Highlights (All comparisons are of the current quarter to the prior-year quarter, unless indicated.) Homebuilding     •   Home closings revenue increased 12% to $1.8 billion, driven by a 12% increase in closings to 3,048 homes and a flat average closing price of $600,000.     •   Home closings gross margin was 24.0% on a reported basis and 24.8% on an adjusted basis. This compared to a reported and adjusted home closings gross margin of 24.0% a year ago.     •   Net sales orders declin