Taylor Morrison reports big second quarter gains
Sep 3, 2013, 12:00 PM | Updated: 12:00 pm
PHOENIX — Scottsdale-based Taylor Morrison reported an adjusted net income of $32.9 million for the second quarter of 2013.
“We are delighted to report improvement in virtually all key operational metrics, adding to more than three years of profitability. The results we’re releasing today continue to reflect a reward for years of diligence in managing the business during the downturn,” said Sheryl Palmer, President and CEO. “The quality of our locations and our land development capability drives the strength of our backlog, home revenue and margin growth. Our team’s conscientious implementation of our strategy and superior execution has allowed us to capitalize on the improvement in the housing market in the first half of 2013.”
In an earnings report, the homebuilder said a 52 percent increase in home closings resulted in $496 million in home closings revenue.
The company also increased the number of lots it owned by 87 percent from June of last year. Taylor Morrison now controls about 45,000 lots worth $2.1 billion.
