-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：Taylor Morrison第一季營收達13.87億美元，超出市場預期，主要得益於成交量高於預期的2268套，但平均售價（ASP）降至57.8萬美元，部分抵消了這一增長，這反映了公司戰略性地專注於現貨庫存。調整後每股盈餘（EPS）為1.12美元，較市場預期的0.84美元高出33%，毛利率為20.6%，高於管理階層約20%的預期。同時，公司已完成的現貨庫存減少了30%，激勵措施較上月下調超過100個基點。淨訂單量為2914套，超過了成交量，使積壓訂單環比增長23%至3465套，其中高利潤率的在建房屋佔比從28%躍升至38%，這支撐了公司向盈利能力戰略轉型。 管理層重申了全年成交量目標約為1.1萬套，銷售、管理及行政費用率（SG&A）控制在10%左右，並預計第二季度成交量為2500-2600套，毛利率下限為20%。我們認為第一季的業績略微降低了今年剩餘時間的風險，並支持了2027年成長定位的「準備年」策略。儘管淨訂單量年減14%，但平均售價（ASP）上漲2%抵消了部分影響，我們認為毛利率的提升至關重要。
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