Homebuilder Taylor Morrison Home (NYSE: TMHC) will be reporting earnings this Wednesday morning. Here’s what investors should know.
Taylor Morrison Home beat analysts’ revenue expectations last quarter, reporting revenues of $2.1 billion, down 10.9% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income 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, the market is expecting Taylor Morrison Home’s revenue to decline 29.7% year on year, a reversal from the 11.5% increase it recorded in the same quarter last year.
The majority of analysts covering the company have 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.
Looking at Taylor Morrison Home’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. KB Home’s revenues decreased 22.6% year on year, missing analysts’ expectations by 1.8%, and Lennar reported a revenue decline of 13.3%, falling short of estimates by 4.5%. KB Home traded down 1.5% following the results while Lennar was up 2.6%.
Read our full analysis of KB Home’s results here and Lennar’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 11.6% on average over the last month. Taylor Morrison Home is up 4.3% during the same time and is heading into earnings with an average analyst price target of $69.67 (compared to the current share price of $61.88).
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