SCOTTSDALE, AZ -- Taylor Morrison Home Corporation last week reported third quarter revenue of $759 million, net income of $66.2 million and earnings per share of $0.54.
"I am pleased to say that through the deliberate and consistent application of our four-pillar strategy of offering core community locations to mostly move-up buyers, while optimizing price and volume and maximizing overhead efficiency, we continue to execute well and the third quarter results add to our solid year-to-date performance," said Taylor Morrison President and CEO Sheryl Palmer. "These results show that our long-term strategy has continued to be a profitable one and that our consistent execution of this strategy has proven successful."
Consolidated net sales orders increased 37% year-over-year to 1,591. Net sales orders in the U.S. increased 36% while sales in Canada increased 43%.
Overall average monthly absorption pace was 2.4, up 9% from 2.2 in the prior year quarter.
The average selling price for consolidated homes sold increased $4,000 year-over-year to $457,000.
U.S. backlog increased 13% in units and 34% in value.