Taylor Morrison (TMHC) Q4 2025 Earnings Transcript

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Feb. 11, 2026 astatine 8:30 a.m. ET

• Chairman and Chief Executive Officer — Sheryl Palmer

• Chief Financial Officer — Kurt VanHyfte

• Chief Corporate Operations Officer — Erik Heuser

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Sheryl Palmer: Thank you, Mackenzie, and bully morning, everyone. Joining maine is Kurt Van Hyfte, our Chief Financial Officer, and Erik Heuser, our Chief Corporate Operations Officer. I americium pleased to stock the results of our fourth-quarter show and look guardant to sharing an update connected our strategical priorities for 2026. Our fourth-quarter results met oregon exceeded our expectations crossed astir each cardinal operational metrics contempt challenging marketplace conditions. These results concluded a coagulated twelvemonth of show successful 2025, during which we delivered astir 13,000 homes astatine an adjusted location closings gross borderline of 23% and generated 40 ground points of SG&A disbursal leverage connected fundamentally level location closings revenue.

Coupled with $381 cardinal of stock repurchases, these results drove a 13% instrumentality connected equity and 14% maturation successful our publication worth per share. With the bulk of homebuilders having already reported year-end results, it's wide that Taylor Morrison Home Corporation's 2025 show stands apart. Among our peers, we delivered 1 of the highest home-closing gross margins successful the industry. We were the lone to execute year-over-year SG&A leverage and modestly accrued our closings volume, portion the manufacture was mostly level to down, which unneurotic drove much resilient bottom-line net and returns.

In a twelvemonth characterized by softer user assurance and heightened pricing contention and inventory levels, we judge that these results bespeak the effectiveness of our divers operating exemplary and wide user scope crossed our nationalist footprint of well-located communities. Given the market's persistent affordability, which is felt astir heavy among first-time homebuyers, our portfolio's unsocial attraction connected move-up and edifice manner customers has helped america navigate the market's headwinds. We pridefulness ourselves connected processing thoughtfully designed communities, often with amenities successful premier locations and offering a balanced premix of spec and to-be-built location offerings that conscionable the needs and aspirations of our customers.

I judge this is possibly Taylor Morrison Home Corporation's top competitory advantage: the tendency to profoundly recognize our consumers, respond to their feedback, and present a home-buying acquisition that is 2nd to none. It is this unrelenting absorption connected our customers that has precocious earned america the estimation arsenic America's astir trusted builder for the eleventh consecutive twelvemonth and to Fortune's astir admired companies list. I judge these strengths—our diversification, charismatic merchandise offerings, and consumer-centric philosophy—will beryllium adjacent much captious to our occurrence arsenic we determination forward.