Taylor Morrison: 4Q Earnings Snapshot
SCOTTSDALE, Ariz. (AP) _ Taylor Morrison Home Corp. (TMHC) on Wednesday reported fourth-quarter net income of $9.1 million.
On a per-share basis, the Scottsdale, Arizona-based company said it had profit of 8 cents. Earnings, adjusted for non-recurring costs, came to 86 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The home builder posted revenue of $1.46 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.45 billion.
For the year, the company reported profit of $206.4 million, or $1.83 per share. Revenue was reported as $4.23 billion.
Taylor Morrison shares have climbed 24 percent since the beginning of the year. The stock has declined 17 percent in the last 12 months.