Taylor Morrison Q1 EPS $1.12; Backlog Jumps 23% to 3,465 Homes
Taylor Morrison reported first-quarter net income of $99 million (GAAP $1.01, adjusted $1.12 EPS) on $1.39 billion revenue. The homebuilder closed 2,268 homes at an average price of $578,000, achieved a 20.6% adjusted home-closings gross margin and grew its backlog 23% sequentially to 3,465 homes.
1. Q1 Financial Results
Taylor Morrison posted net income of $99 million on $1.39 billion in home closings revenue for the quarter, delivering GAAP EPS of $1.01 and adjusted EPS of $1.12. Reported and adjusted earnings per share exceeded prior-year results despite a decline in total closings.
2. Operational Highlights
The company closed 2,268 homes at an average sales price of $578,000, generating a 20.0% reported gross margin and 20.6% adjusted margin. Net sales orders reached 2,914 homes at an average price of $603,000, while monthly sales pace rose to 2.7 homes per community and cancellations fell to 10.
3. Capital Allocation
Taylor Morrison invested $503 million in land and development, maintained 75,626 homebuilding lots (51% off balance sheet), and repurchased 2.5 million shares for $150 million. The quarter ended with total liquidity of $1.6 billion, including $653 million in cash.
4. Business Outlook
Management reaffirmed 2026 guidance for approximately 11,000 home closings at an average price of $580,000–$590,000 and at least 20% home-closings gross margin. Second-quarter closings are expected between 2,500 and 2,600 homes at an average price near $575,000.