Homebuilder Taylor Morrison Home (NYSE: TMHC) will be announcing earnings results this Wednesday before market hours. Here’s what you need to know.
Taylor Morrison Home beat analysts’ revenue expectations by 5.7% last quarter, reporting revenues of $1.90 billion, up 11.5% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and a solid 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.
This quarter, analysts are expecting Taylor Morrison Home’s revenue to decline 1.9% year on year to $1.95 billion, improving from the 3.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.94 per share.
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, beating revenue estimates every single time over the past two years by 7% on average.
Looking at Taylor Morrison Home’s peers in the industrials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. KB Home’s revenues decreased 10.5% year on year, beating analysts’ expectations by 1.6%, and Lennar reported a revenue decline of 4.4%, topping estimates by 1.1%. KB Home’s stock price was unchanged after the resultswhile Lennar was down 4.4%.
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 5.9% on average over the last month. Taylor Morrison Home is up 1.9% during the same time and is heading into earnings with an average analyst price target of $72.52 (compared to the current share price of $62).
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