Taylor Morrison Posts $1.3B Q1 Revenue and 23% Backlog Growth
Taylor Morrison posted $1.3 billion in Q1 home closings revenue with a 20.6% adjusted gross margin and $1.12 adjusted EPS. Backlog rose 23% year-over-year to 3,465 homes, liquidity totaled $1.6 billion, and the company repurchased $150 million with a $400 million buyback plan for 2026.
1. Q1 Financial Results
Taylor Morrison generated $1.3 billion in home closings revenue for Q1 2026, achieving a 20.6% adjusted gross margin and $1.12 adjusted earnings per share. Reported net income was $99 million, or $1.01 per diluted share, with adjusted net income of $109 million.
2. Backlog and Order Activity
The company’s backlog climbed 23% year-over-year to 3,465 homes at quarter-end, reflecting strong demand for to-be-built homes. Net orders totaled 2,914 homes at an average selling price of $603,000, while the cancellation rate remained at 10% of gross orders.
3. Full-Year Outlook and Margin Expectations
Taylor Morrison forecasts approximately 11,000 home closings for full-year 2026 with average closing prices between $580,000 and $590,000. Management anticipates gradual margin improvement in the second half of the year, contingent on interest rate trends and broader market conditions.
4. Liquidity, Debt and Capital Returns
The company ended Q1 with $1.6 billion in liquidity, including $653 million in cash and no revolver borrowings, and maintained a net homebuilding debt to capitalization ratio of 20.5%. It repurchased $150 million of shares in Q1 and set a $400 million buyback target for 2026.