Taylor Morrison Home — Jul 23, 2025 release

In the meantime, with a healthy land pipeline already controlled and healthy balance sheet, we have flexibility to return capital to shareholders—on top of the roughly $2.0 billion we have invested in share repurchases since 2015. Across the business, our operating priorities are grounded in a disciplined model that we expect can generate mid-to-high teens returns on equity throughout the course of a cycle, including this year.” Second Quarter Business Highlights (All comparisons are of the current quarter to the prior-year quarter, unless indicated.) Homebuilding     •   Home closings revenue increased 2% to $2.0 billion, driven by a 4% increase in closings to 3,340 homes, partially offset by a 2% decline in average closing price to $589,000.     •   Home closings gross margin was 22.3% on a reported basis and 23.0% adjusted for inventory impairment and warranty charges.     •   Net sales orders declined 12% to 2,733. This was driven by a decline in the monthly absorption pace to 2.6 from 3.0 a year ago and a 1% decline in ending community count to 345 outlets.     •   As a percentage of gross orders, cancellations equaled 14.6%, up from 9.4% a year ago. As a percentage of beginning backlog, cancellations equaled 9.2%, up from 5.2% a year ago.     •   SG&A as a percentage of home closings revenue improved 90 basis points to 9.3% from 10.2% a year ago.     •   Backlog at quarter end was 4,461 homes with a sales value of $2.9 billion. Backlog customer deposits a