Taylor Morrison Home Corporation reported a significant increase in its financial performance for the fiscal year ending December 31, 2024, with total revenue reaching $8.17 billion, up from $7.42 billion in 2023. The company's net income also rose to $883.3 million, compared to $768.9 million in the previous year, resulting in diluted earnings per share of $8.27, an increase from $6.98. The home closings revenue, which constitutes a major portion of the company's income, increased by 8.3% to $7.76 billion, driven by a 12.2% rise in home closings, totaling 12,896 units.
The company experienced a 13.1% increase in net sales orders, totaling 12,248 for the year, attributed to new community openings and a lower cancellation rate. The average selling price per home closed decreased slightly to $601,000 from $623,000 in 2023, reflecting a shift in product mix and reduced option revenues. The cancellation rate improved to 9.5%, down from 12.1% in the previous year, indicating enhanced buyer confidence amid stabilizing economic conditions.
Strategically, Taylor Morrison expanded its market presence through the acquisition of Pyatt Builders, enhancing its inventory with approximately 1,700 owned and controlled lots. The company also continued to invest in its Build-to-Rent operations under the Yardly brand, which has been a focus area for growth. As of December 31, 2024, Taylor Morrison maintained a strong liquidity position with approximately $1.4 billion available, supporting its ongoing land acquisition and development initiatives.
Operationally, the company reported a total of 339 active selling communities, a 3.7% increase from the previous year, with notable growth in the East and Central segments. The West segment saw a slight decline due to community close-outs. The company’s employee headcount increased by 7.1%, reflecting its growth strategy and operational needs. Looking ahead, Taylor Morrison aims to leverage its strong financial position and market dynamics to continue expanding its footprint and enhancing shareholder value, while navigating potential challenges in the housing market.
About Taylor Morrison Home Corp
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.