SCOTTSDALE, Ariz. , Oct. 23, 2024 /PRNewswire/ -- Taylor Morrison Home Corporation (NYSE: TMHC ), a leading national land developer and homebuilder, announced results for the third quarter ended September 30, 2024 .
Reported third quarter net income was $251 million , or $2.37 per diluted share, as compared to $171 million , or $1.54 per diluted share, in the prior-year quarter.
Third quarter 2024 highlights included the following, as compared to the third quarter of 2023: Diluted EPS increased 54% to $2.37 Net sales orders increased 9% to 2,830 Home closings revenue of $2.0 billion , driven by 3,394 closings at an average price of $598,000 Home closings gross margin of 24.
8%, up from 23.1% a year ago 83,579 homebuilding lots owned and controlled, of which a record 58% was controlled off balance sheet Share repurchases totaled $61 million during the quarter and $258 million year to date Total liquidity of $1.2 billion ; no senior debt maturities until 2027 "In the third quarter, our team delivered better-than-expected results, which clearly demonstrated the benefits of our diversified consumer and geographic strategy, as well as our team's impressive execution in the face of continued interest rate volatility, economic uncertainty and hurricane-related disruptions," said Sheryl Palmer , Taylor Morrison CEO and Chairman.
"Led by strong top-line growth and improved margins, our results generated over-50% year-over-year growth in our earnings per diluted share to $2.37 and a 15%.