Page 1

TaylorMorrison . NEWS RELEASE Taylor Morrison Reports Second Quarter 2021 Results , Including 23 Percent Year - Over - Year Growth to 3.4 Net Sales Orders per Community 7/29/2021 SCOTTSDALE , Ariz . , July 29 , 2021 / PRNewswire / -- Taylor Morrison Home Corporation ( NYSE : TMHC ) , the nation's fifth largest homebuilder , announced results for the second quarter ended June 30 , 2021. Reported net income of $ 124 million , or $ 0.95 per diluted share , compared to $ 65 million , or $ 0.50 per diluted share , in the second quarter of 2020 . The Company's second quarter included the following results , as compared to the prior - year quarter : • Monthly absorptions increased 23 percent to 3.4 net sales orders per community . Home closings gross margin increased 370 basis points to 19.1 percent . • Backlog increased 50 percent to 10,228 sold homes with a sales value of $ 5.7 billion , up 78 percent . Homebuilding lot supply increased 13 percent to approximately 76,000 total lots owned and controlled . • • Controlled lots as a percentage of total supply increased approximately 700 basis points to 35 percent . " Our team delivered strong second quarter results and made further progress in achieving our strategic priorities as we continue to capture the synergies of our recent acquisitions and optimize our operations by fully leveraging the benefits of our national and local scale , " said Sheryl Palmer , Taylor Morrison Chairman and CEO . " During the quarter , we strategically managed our sales activity by delaying the release of lots to maximize our margin opportunity and accelerated our monthly production pace by over 140 percent to a record 4.8 starts per community as we build through our backlog of over 10,200 sold homes , positioning us for strong home closings and gross margin expansion in the second half of the year . This disciplined approach gives us confidence to raise our 2021 home closings gross margin guidance to the high - 19 to 20 percent range and reaffirm our closings 1