Taylor Morrison reports Q1 EPS $1.74, consensus $1.35

Reports Q1 revenue $1.66B, consensus $1.5B. Reports Q1 book value per share $44.04. Home closings declined 8% to 2,541 homes. "I am pleased to share the results of our first quarter, which outperformed our expectations across all key metrics due to our team’s strong execution and stabilizing market dynamics. We delivered 2,541 homes at a strong home closings gross margin of 23.9% and efficient SG&A ratio of just 9.9%. Most notably, this gross margin was up 80 basis points year over year due to our ongoing focus on operational enhancements and our balanced approach to to-be-built and spec home sales," said Sheryl Palmer, Taylor Morrison chairman and CEO.