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Taylor Morrison: Q1 Earnings Snapshot

SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — Taylor Morrison Home Corp. (TMHC) on Wednesday reported first-quarter profit of $98.6 million.

On a per-share basis, the Scottsdale, Arizona-based company said it had net income of $1.01. Earnings, adjusted for one-time gains and costs, came to $1.12 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The home builder posted revenue of $1.39 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.33 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TMHC at https://www.zacks.com/ap/TMHC

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