Taylor Morrison Home Corp. (TMHC) reported Wednesday that net income for the fourth quarter plunged to $172.59 million or $1.58 per share from $275.33 million or $2.51 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $2.05 per share, compared to $2.93 per share in the year-ago quarter.
On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $1.74 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter declined 19 percent to $2.02 billion from $2.49 billion in the same quarter last year. Analysts expected revenues of $1.84 billion for the quarter
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