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TaylorMorrison . NEWS RELEASE Taylor Morrison Reports Third Quarter 2021 Results , Including a 400 Basis Point Year - Over - Year Increase in Home Closings Gross Margin to 21.2 Percent 10/27/2021 SCOTTSDALE , Ariz . , Oct. 27 , 2021 / PRNewswire / -- Taylor Morrison Home Corporation ( NYSE : TMHC ) , the nation's fifth largest homebuilder , announced results for the third quarter ended Sept. 30 , 2021. Reported net income of $ 168 million , or $ 1.34 per diluted share , compared to $ 115 million , or $ 0.87 per diluted share , in the third quarter of 2020 . The Company's third quarter included the following results , as compared to the prior - year quarter : • Home closings gross margin increased 400 basis points to 21.2 percent . Backlog increased 32 percent to 10,273 sold homes with a sales value of $ 6.1 billion , up 63 percent . • Controlled lots as a percentage of total lot supply increased approximately 700 basis points to 36 percent . • Homebuilding lot supply increased 15 percent to approximately 78,000 total lots owned and controlled . • The Company repurchased 3.3 million shares outstanding for $ 92 million . ● " In the third quarter , our teams delivered a strong quarter that met or exceeded our expectations across each of our key operating metrics as we successfully navigated the intense supply - side challenges facing our industry to close 3,327 homes , which was within our prior guidance range , at a significantly better - than - anticipated home closings gross margin of 21.2 percent . This strong performance reflects the acquisition synergies and production efficiencies that we have indicated would begin to materialize at this stage of our strategic journey , " said Sheryl Palmer , Taylor Morrison Chairman and CEO . " Looking ahead , we expect the positive momentum to continue based on our confidence in further synergy realization , operational enhancements and the strength of our sold backlog . As a result , we now expect home 1