Taylor Morrison(TMHC) ZACKS·2024-07-24 14:35Core Insights - Taylor Morrison Home (TMHC) reported revenue of $1.99 billion for the quarter ended June 2024, reflecting a year-over-year decline of 3.4% [4] - The company achieved an EPS of $1.97, down from $2.12 a year ago [4] - The reported revenue surpassed the Zacks Consensus Estimate of $1.87 billion, resulting in a surprise of +6.19% [1] Revenue and Sales Performance - Revenue from home closings was $1.92 billion, exceeding the average estimate of $1.81 billion based on three analysts, but showing a year-over-year decline of 3.8% [2] - Financial services revenue reached $48.92 million, compared to the average estimate of $47.77 million, marking a year-over-year increase of +16.7% [2] - Amenity and other revenue was reported at $8.78 million, above the average estimate of $7.55 million, but down by 5.4% year-over-year [2] Market Performance - Taylor Morrison's shares have returned +19.4% over the past month, outperforming the Zacks S&P 500 composite, which saw a +1.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3] Key Metrics - Backlog units at the end of the period totaled 6,256, slightly below the two-analyst average estimate of 6,565 [2] - The average sales price of homes closed was $600 thousand, close to the two-analyst average estimate of $601.86 thousand [2] - Homes closed totaled 3,200, exceeding the average estimate of 3,014 by two analysts [2] - Net sales orders were reported at 3,111, below the two-analyst average estimate of 3,335 [2]