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Taylor Morrison

TMHC Q1 2026 Earnings

Reported Apr 22, 2026 at 6:15 AM ET · SEC Source

Q1 26 EPS

$1.12

BEAT +33.38%

Est. $0.84

Q1 26 Revenue

$1.39B

BEAT +4.51%

Est. $1.33B

vs S&P Since Q1 26

+7.0%

BEATING MARKET

TMHC +9.5% vs S&P +2.5%

Market Reaction

Did TMHC Beat Earnings? Q1 2026 Results

Taylor Morrison delivered a stronger-than-expected first quarter for fiscal 2026, posting adjusted earnings of $1.12 per diluted share against a consensus estimate of $0.84, a beat of 33.38%, even as the homebuilder navigated a year-over-year revenue… Read more Taylor Morrison delivered a stronger-than-expected first quarter for fiscal 2026, posting adjusted earnings of $1.12 per diluted share against a consensus estimate of $0.84, a beat of 33.38%, even as the homebuilder navigated a year-over-year revenue decline of 26.8% to $1.39 billion that underscored ongoing volume pressure across the industry. The outperformance came despite a 26% drop in home closings to 2,268 units and a 400-basis-point contraction in adjusted gross margin to 20.6%, as elevated incentive activity relative to the prior year weighed on profitability. Revenue still edged past the $1.33 billion consensus by 4.51%, reflecting disciplined pricing and a deliberate shift toward to-be-built orders, which climbed to 38% of the net sales mix from 28% in the prior quarter. Backlog grew 23% sequentially to 3,465 homes valued at $2.30 billion, and management reaffirmed full-year guidance targeting approximately 11,000 closings at an average price between $580,000 and $590,000, with RBC raising its price target on the stock to $69 following the results.

Key Takeaways

  • • Diversification across first-time, move-up, and resort lifestyle consumer segments
  • • Resort lifestyle segment was the only consumer segment to grow year over year, driven by 9% increase in Esplanade sales
  • • Significant increase in to-be-built order mix to 38% from 28% in Q4 2025
  • • Sequential reduction of more than 100 basis points in incentives
  • • 30% decline in finished spec count to 863 homes
  • • 23% sequential backlog growth to 3,465 homes
  • • 88% mortgage capture rate with average borrower credit score of 750

TMHC Forward Guidance & Outlook

Taylor Morrison reaffirmed its full-year 2026 guidance across all key metrics despite an evolving market backdrop. For Q2 2026: ending community count around 370; home closings between 2,500 and 2,600; average closing price approximately $575,000; adjusted home closings gross margin at least 20%; effective tax rate approximately 25.5%; average diluted share count approximately 95 million. For full-year 2026: ending community count between 365 and 370; approximately 11,000 home closings; average closing price between $580,000 and $590,000; SG&A in the mid-10% range; effective tax rate approximately 25.0%; average diluted share count approximately 95 million; homebuilding land investment approximately $2 billion; share repurchases approximately $400 million. Management is positioning for a meaningful reacceleration in growth in 2027 and beyond, with more than 125 new communities slated to open in 2026.

24/7 Wall St

TMHC YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

TMHC Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“Our first quarter results reflected the effectiveness of our diversified strategy, the quality of our core locations, and the disciplined execution of our teams. We delivered 2,268 homes at an average price of $578,000 and an adjusted home closings gross margin of 20.6%, driving adjusted earnings per diluted share of $1.12 and 11% year-over-year growth in our book value per share to $64. On the capital front, we invested $503 million in land and development and $150 million in share repurchases and ended the quarter with $1.6 billion in liquidity.”

— Sheryl Palmer, Q1 2026 Earnings Press Release

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