Wed, Jul 24, 8:48 PM (45 days ago)
Taylor Morrison Home Corporation's Q2 2024 financial report reveals a mixed performance. The company reported a slight decline in home closings revenue to $1.92 billion from $1.99 billion in Q2 2023, despite a 2.4% increase in the number of homes closed. The average selling price dropped 6.1% to $600,000. Gross margin decreased marginally to 23.8% from 24.2%, impacted by increased general and administrative expenses. Net income fell to $199.5 million from $234.6 million, with diluted EPS down to $1.86 from $2.12. The company repurchased 1.7 million shares for $105 million and reported total liquidity of $1.3 billion. Despite these challenges, the company expanded its community count and maintained a robust backlog, indicating potential for future growth.