Homebuilder Taylor Morrison Home (NYSE: TMHC) will be announcing earnings results this Wednesday before market hours. Here’s what investors should know.
Taylor Morrison Home beat analysts’ revenue expectations by 3.9% last quarter, reporting revenues of $2.03 billion, up 2% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ backlog estimates.
Is Taylor Morrison Home a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Taylor Morrison Home’s revenue to decline 4.5% year on year to $2.03 billion, a reversal from the 26.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.92 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Taylor Morrison Home has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 5.1% on average.
Looking at Taylor Morrison Home’s peers in the industrials segment, some have already reported their Q3 results, giving us a hint as to what we can expect. KB Home’s revenues decreased 7.5% year on year, beating analysts’ expectations by 1.2%, and Lennar reported a revenue decline of 6.4%, falling short of estimates by 2.7%. KB Home’s stock price was unchanged after the resultswhile Lennar was down 4.3%.
Read our full analysis of KB Home’s results here and Lennar’s results here.
Investors in the industrials segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Taylor Morrison Home is down 5.8% during the same time and is heading into earnings with an average analyst price target of $76 (compared to the current share price of $62.13).
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