Yahoo Finance Taylor Morrison (TMHC) to Report Q1 Earnings: What's in Store?
Taylor Morrison Home Corporation TMHC is scheduled to report first-quarter 2023 results on Apr 26, before market open.
In the last reported quarter, TMHC’s earnings topped the Zacks Consensus Estimate by 0.7% and grew 33.8% from the year-ago reported value. Net sales were on par with the consensus mark but declined 0.5% from the prior-year quarter.
Taylor Morrison’s earnings topped the consensus mark in each of the last four quarters, with the average surprise being 13.3%.
The Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has remained unchanged at $1.29 over the past 30 days. The estimated figure indicates a 10.4% decline from the year-ago level.
Taylor Morrison Home Corporation Price and EPS Surprise
Taylor Morrison Home Corporation price-eps-surprise | Taylor Morrison Home Corporation Quote
For revenues, the consensus mark is pegged at $1,535 million, suggesting a decline of 9.9% from the year-ago quarter’s reported figure.
Factors at Play
Taylor Morrison is likely to have witnessed lower earnings and revenues on a year-over-year basis in first-quarter 2023. The housing market softness, increased cancellation rates, reduction in monthly absorption pace per community and tighter consumer spending are likely to have impacted the company’s quarterly revenues.
For the first quarter 2023, the Zacks Consensus Estimate for home closings revenues is currently pegged at $1,490 million, suggesting a decline of 9.4% from the year-ago quarter’s reported level.
The consensus mark for homes closed is 2,366 units, implying a decline from 2,768 units a year ago.
Also, the net sales order for the to-be-reported quarter is pegged at $2,450 million, down 19.8% from the previous year quarter’s reported value.
The bottom line of the company is likely to have been affected by persisting inflationary pressure, increased construction and incentive costs. These costs are expected to have weighed on the company’s operations and hurt margins in the to-be-reported quarter.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Taylor Morrison this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Taylor Morrison has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Construction sector that investors may consider as our model shows that these have the right combination of elements to post an earnings beat in the quarter to be reported:
Trex Company, Inc. TREX has an Earnings ESP of +11.34% and a Zacks Rank #3.
Shares of Trex Company have declined 4.1% in the past year. TREX’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 7.2%.
United Rentals, Inc. URI has an Earnings ESP of +4.51% and a Zacks Rank #3.
Shares of United Rentals have increased 26.9% in the past year. URI’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 6.9%.
Owens Corning OC has an Earnings ESP of +3.18% and a Zacks Rank #3.
Shares of Owens Corning have increased 17.7% in the past year. OC’s earnings beat the consensus mark in each of the trailing four quarters, the average surprise being 12.9%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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United Rentals, Inc. (URI) : Free Stock Analysis Report
Owens Corning Inc (OC) : Free Stock Analysis Report
Trex Company, Inc. (TREX) : Free Stock Analysis Report
Taylor Morrison Home Corporation (TMHC) : Free Stock Analysis Report