Taylor Morrison sees FY25 home closings 13,000-13,500

Sees FY25 average closing price $595,000-$600,000. Sees FY25 adjusted home closings gross margin 23%. Sees FY25 ending active community count 350. Sees FY25 effective tax rate 24.5%-25%. Sees FY25 homebuilding land acquisition and development investment $2.4B. Palmer continued, “Taking a step back from the current sales environment, we believe the need for affordable, desirable new construction remains intact across our markets of operations given the aging of the population, migration patterns and evolving buyer preferences. We believe that our diverse portfolio is well positioned to serve this need in the years ahead. While the near-term outlook calls for a more patient growth trajectory as we prioritize capital efficiency and returns over volume, we strongly believe we have the platform and opportunity to jumpstart growth as market dynamics stabilize. In the meantime, with a healthy land pipeline already controlled and healthy balance sheet, we have flexibility to return capital to shareholders-on top of the roughly $2.0 billion we have invested in share repurchases since 2015. Across the business, our operating priorities are grounded in a disciplined model that we expect can generate mid-to-high teens returns on equity throughout the course of a cycle, including this year.”