Taylor Morrison Home (TMHC) 8-K Net Income of $103 Million and Earnings per Share of $0.84

Exhibit 99.1

News Release

CONTACT: Erin Willis

Taylor Morrison Home Corporation

(480) 734-2060

investor@taylormorrison.com

Taylor Morrison Reports Fourth Quarter U.S. Revenue of $1 Billion,

Net Income of $103 Million and Earnings per Share of $0.84

• U.S. revenue increased 58% to $1 billion for the quarter and 41% to $2.7 billion for the year

• Diluted earnings per share were $0.84 on net income of $103 million for the quarter

• U.S. home closings revenue increased 56% to $966 million for the quarter

• U.S. home closings increased 35% to 1,967 in the quarter and 20% to 5,642 for the year

• U.S. average price of homes closed increased 16% to $491,000 in the quarter

• U.S. net sales orders increased 24% to 1,295 in the quarter and 14% to 5,728 for the year

SCOTTSDALE, Ariz., February 4, 2015 –– Taylor Morrison Home Corporation (NYSE:TMHC) today reported fourth quarter revenue of $1 billion, net income of $103 million and earnings per share of $0.84.

“Our results this quarter and for the whole of 2014 continue to demonstrate that our long-term strategy, anchored on the pillars of prime locations, consumer focus, cost efficiency and maximizing shareholder value, is a profitable one and has proven successful,” said Taylor Morrison President and CEO Sheryl Palmer. “It was a record year for Taylor Morrison in several metrics including sales, closings, revenue, community openings, SG&A and net operating profit. I believe we will show ongoing strength in our existing operations and have a pivotal year ahead with an operating team solely focused on opportunities in the United States.”

On January 28, 2015, the Company closed the sale of its Canadian operations generating proceeds of approximately CAD $570 million, subject to certain customary post-closing adjustments. As the sale was pending at December 31, 2014, the financial results for the Canadian operations are shown as discontinued operations in the condensed consolidated statements of operations and condensed consolidated balance sheets included in this release.

4th Quarter 2014 Key Business Highlights

• U.S. community count increased 33% to 220 average communities from 166 from the prior year quarter

• Net sales orders in the U.S. increased 24% to 1,295

• Home closings in our U.S. operations increased 35% to 1,967

• U.S. backlog increased 4% in units and 11% in value

• U.S. backlog of homes under contract was 2,252 units with a sales value of $1.1 billion as of December 31, 2014

• U.S. cancellations as a percentage of gross sales orders was 15.4%, a 6% improvement from the prior year quarter

• Average price of homes closed in the U.S. increased 16% to $491,000

• U.S. average monthly absorption pace was 2.0 compared to 2.1 in the prior year quarter

• Mortgage operations reported gross profit of $6.6 million on revenue of $12.6 million

U.S. Quarterly Financial Comparison

($ millions)
	Q4 2014			Q4 2013			Q4 2014 vs. Q4 2013
Total Revenue	$	1,012		$	639			58	%
Home Closings Revenue	$	966		$	621			56	%
Total Home Closings Gross Margin	$	187 19.4	%	$	146 23.5	%		29 (410	%  ) bps
Adjusted Home Closings Gross Margin	$	213 22.0	%	$	156 25.1	%		37 (310	%  ) bps
SG&A % of Home Closings Revenue	$	78 8.1	%	$	58 9.4	%		34 130 bps improvement	%
Equity in Income of Unconsolidated Entities	$	1.9		$	1.2			62	%

Full Year 2014 Key Business Highlights

• U.S. community count increased 30% to 206 average communities from 158 year-over-year

• Net sales orders in the U.S. increased 14% to 5,728

• U.S. average monthly absorption pace was 2.3 compared to 2.6 in the prior year

• U.S. cancellations as a percentage of gross sales orders was 13.2% compared to 14.3% in the prior year

• Home closings in our U.S. operations increased 20% to 5,642

• Average price of homes closed in the U.S. increased 18% to $464,000

• Mortgage operations reported gross profit of $16 million on revenue of $35 million

U.S. Annual Financial Comparison

($ millions)
	2014			2013			2014 vs. 2013
Total Revenue	$	2,708		$	1,916			41	%
Home Closings Revenue	$	2,620		$	1,858			41	%
Total Home Closings Gross Margin	$	537 20.5	%	$	400 21.6	%		34 (110	%  ) bps
Adjusted Home Closings Gross Margin	$	602 23.0	%	$	435 23.4	%		38 (40	%  ) bps
SG&A % of Home Closings Revenue	$	250 9.5	%	$	205 11.0	%		22 150 bps improvement	%
Equity in Income of Unconsolidated Entities	$	5.4		$	2.9			87	%

The Company ended the quarter with U.S. home building inventories of $2.5 billion. The Company had 2,871 homes in inventory compared to 2,611 homes at the end of the prior year quarter. Homes in inventory at the end of the quarter consisted of: 1,517 sold units, 318 model homes and 1,036 inventory units, of which 332 were finished.

The Company ended the fourth quarter of 2014 with $234 million of cash, excluding $1 million of restricted cash and $228 million of cash in Canada. The Company owned or controlled approximately 38,854 lots at December 31, 2014.

First Quarter and Full Year 2015 Business Outlook

First Quarter 2015:

• Average community count – expected to be flat at 220

• Home closings – expected between 1,000 and 1,100

• Adjusted home closings margin – expected between 21.0 – 21.5%

Full Year 2015:

• Average community count – expected between 230 and 240 communities

• Home closings – up slightly from 2014

• Home closings margins – expected around 22%

• SG&A – expected to be in the mid 9% range

• Income from unconsolidated joint ventures – expected between $2-4 million

• Land spend – expected to be approximately $1 billion

Earnings Webcast

A public webcast to discuss fourth quarter 2014 earnings will be held later today at 8:30 a.m. Eastern Time Wednesday, February 4, 2015 on the Company’s investor relations website at investors.taylormorrison.com. A webcast replay will also be available on the site later today.

About Taylor Morrison

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national builder and developer based in Scottsdale, Arizona and operates under two well-established brands, Taylor Morrison and Darling Homes. Taylor Morrison builds and develops distinctive communities from coast to coast, serving a wide array of homeowners and aimed mainly at first-time, move-up, luxury and 55 or better customers. Darling Homes builds communities in Texas, catering to move-up and luxury homebuyers seeking a personalized building experience.

For more information about Taylor Morrison and Darling Homes please visit www.taylormorrison.com or www.darlinghomes.com.

Forward-Looking Statements

This earnings summary includes “forward-looking statements.” These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “may,” “can,” “could,” “might,” “will” and similar expressions identify forward-looking statements, including statements related to expected operating and performing results, planned transactions, planned objectives of management, future developments or conditions in the industries in which we participate and other trends, developments and uncertainties that may affect our business in the future.

Such risks, uncertainties and other factors include, among other things: interest rate changes and the availability of mortgage financing; continued volatility in the debt and equity markets; competition within the industries in which we operate; the availability and cost of land and other raw materials used by us in our homebuilding operations; the impact of any changes to our strategy in responding to continuing adverse conditions in the industry, including any changes regarding our land positions; the availability and cost of insurance covering risks associated with our businesses; shortages and the cost of labor; weather related slowdowns; slow growth initiatives and/or local building moratoria; governmental regulation directed at or affecting the housing market, the homebuilding industry or construction activities; uncertainty in the mortgage lending industry, including revisions to underwriting standards and repurchase requirements associated with the sale of mortgage loans; the interpretation of or changes to tax, labor and environmental laws; economic changes nationally or in our local markets, including inflation, deflation, changes in consumer confidence and preferences and the state of the market for homes in general; legal or regulatory proceedings or claims; required accounting changes; terrorist acts and other acts of war; and other factors of national, regional and global scale, including those of a political, economic, business and competitive nature. We undertake no duty to update any forward-looking statement, whether as a result of new information, future events or changes in our expectations, except as required by applicable law. In addition, other such risks and uncertainties may be found in Taylor Morrison Home Corporation’s Form 10-K filed with the Securities and Exchange Commission (SEC).

Taylor Morrison Home Corporation

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts, unaudited)

	Three Months Ended December 31,						Year Ended December 31,
	2014			2013			2014			2013
Home closings revenue	$	965,668		$	620,638		$	2,619,558		$	1,857,950
Land closings revenue		33,462			8,887			53,381			27,760
Mortgage operations revenue		12,623			9,475			35,493			30,371
Total revenues		1,011,753			639,000			2,708,432			1,916,081
Cost of home closings		778,224			475,049			2,082,819			1,457,454
Cost of land closings		23,937			7,242			39,696			26,316
Mortgage operations expenses		6,030			4,501			19,671			16,446
Total cost of revenues		808,191			486,792			2,142,186			1,500,216
Gross margin		203,562			152,208			566,246			415,865
Sales, commissions and other marketing costs		54,535			40,533			168,897			127,419
General and administrative expenses		23,574			17,684			81,153			77,198
Equity in income of unconsolidated entities		(1,937	)		(1,197	)		(5,405	)		(2,895	)
Interest expense, net		33			684			1,160			842
Other expense (income), net		7,877			(201	)		18,447			2,842
Loss on extinguishment of debt		—			—			—			10,141
Indemnification and transaction expenses		—			10,508			—			195,773
Income from continuing operations before income taxes		119,480			84,197			301,994			4,545
Income tax provision (benefit)		25,793			15,452			76,395			(23,810	)
Net income from continuing operations		93,687			68,745			225,599			28,355
Income from discontinued operations - net of tax		10,844			27,441			41,902			66,513
Net income before allocation to non-controlling interests		104,531			96,186			267,501			94,868
Net (income) loss attributable to non-controlling interests - joint ventures		(1,262	)		(156	)		(1,648	)		131
Net income before non-controlling interests - Principal Equityholders		103,269			96,030			265,853			94,999
Net (income) loss from continuing operations attributable to non-controlling interests - Principal Equityholders		(67,482	)		(50,131	)		(163,790	)		1,442
Net income from discontinued operations attributable to non-controlling interests - Principal Equityholders		(7,912	)		(20,069	)		(30,594	)		(51,021	)
Net income available to Taylor Morrison Home Corporation	$	27,875		$	25,830		$	71,469		$	45,420
Earnings per common share - basic:
Net income from continuing operations	$	0.75		$	0.57		$	1.83		$	0.91
Discontinued operations - net of tax	$	0.09		$	0.22		$	0.34		$	0.47
Net income available to Taylor Morrison Home Corporation	$	0.84		$	0.79		$	2.17		$	1.38
Earnings per common share - diluted:
Net income from continuing operations	$	0.75		$	0.57		$	1.83		$	0.91
Discontinued operations - net of tax	$	0.09		$	0.22		$	0.34		$	0.47
Net income available to Taylor Morrison Home Corporation	$	0.84		$	0.79		$	2.17		$	1.38
Weighted average number of shares of common stock:
Basic		33,060			32,858			32,937			32,840
Diluted		122,348			122,326			122,313			122,319

Taylor Morrison Home Corporation

Condensed Consolidated Balance Sheets

(In thousands)

	December 31, 2014		December 31, 2013
	(Unaudited)
Assets
Cash and cash equivalents	$	234,217	$	193,518
Restricted cash		1,310		3,807
Real estate inventory:
Owned inventory		2,511,623		1,993,985
Real estate not owned under option agreements		6,698		18,595
Total real estate inventory		2,518,321		2,012,580
Land deposits		34,544		38,011
Mortgages receivable		191,140		95,718
Prepaid expenses and other assets, net		89,210		79,921
Other receivables, net		85,274		50,592
Investments in unconsolidated entities		110,291		21,435
Deferred tax assets, net		258,190		242,656
Property and equipment, net		5,337		4,502
Intangible assets, net		5,459		9,325
Goodwill		23,375		23,375
Assets of discontinued operations		576,445		663,118
Total assets	$	4,133,113	$	3,438,558
Liabilities
Accounts payable	$	122,466	$	101,732
Accrued expenses and other liabilities		200,556		162,044
Income taxes payable		50,096		35,512
Customer deposits		70,465		62,033
Senior notes		1,388,840		1,039,497
Loans payable and other borrowings		147,516		143,341
Revolving credit facility borrowings		40,000		—
Mortgage borrowings		160,750		74,892
Liabilities attributable to consolidated option agreements		6,698		18,595
Liabilities of discontinued operations		168,565		256,011
Total liabilities	$	2,355,952	$	1,893,657
Stockholders’ Equity
Total stockholders’ equity		1,777,161		1,544,901
Total liabilities and stockholders’ equity	$	4,133,113	$	3,438,558

Total Revenues:	Three Months Ended December 31,
(Dollars in thousands)	2014		2013
East	$	588,109	$	365,674
West		411,021		263,851
Mortgage Operations		12,623		9,475
Subtotal U.S.	$	1,011,753		639,000
Discontinued operations		155,722		159,419
Total	$	1,167,475	$	798,419
Homes Closed:	Three Months Ended December 31,
	2014					2013
(Dollars in thousands)	Homes		Value			Homes		Value
East		1,277	$	554,647			927	$	356,787
West		690		411,021			535		263,851
Subtotal U.S.		1,967	$	965,668			1,462		620,638
Discontinued operations		483		155,722			408		159,419
Subtotal		2,450	$	1,121,390			1,870		780,057
Unconsolidated joint ventures discontinued operations		6		2,795			207		61,674
Total		2,456	$	1,124,185			2,077	$	841,731
Net Sales Orders:	Three Months Ended December 31,
	2014					2013
(Dollars in thousands)	Homes		Value			Homes		Value
East		875	$	362,749			637	$	267,849
West		420		200,662			411		234,752
Subtotal U.S.		1,295	$	563,411			1,048	$	502,601
Discontinued operations		136		60,131			126		50,344
Subtotal		1,431	$	623,542			1,174	$	552,945
Unconsolidated joint ventures discontinued operations		9		3,081			22		6,384
Total		1,440	$	626,623			1,196	$	559,329
Sales Order Backlog:	As of December 31,
	2014					2013
(Dollars in thousands)	Homes		Value			Homes		Value
East		1,709	$	806,848			1,544	$	667,725
West		543		292,919			622		320,029
Subtotal U.S.		2,252	$	1,099,767			2,166	$	987,754
Discontinued operations		333		158,562			822		259,352
Subtotal		2,585	$	1,258,329			2,988	$	1,247,106
Unconsolidated joint ventures discontinued operations		406		130,077			548		195,979
Total		2,991	$	1,388,406			3,536	$	1,443,085
Average Active Selling Communities:	Three Months Ended December 31,					Year Ended December 31,
	2014		2013			2014		2013
East		162		121			151		121
West		58		45			55		37
Subtotal U.S.		220		166			206		158
Discontinued operations		13		14			13		15
Subtotal		233		180			219		173
Unconsolidated joint ventures discontinued operations		3		3			3		4
Total		236		183			222		177
Average Selling Price of Homes Closed:	Three Months Ended December 31,					Year Ended December 31,
(In thousands)	2014		2013			2014		2013
East	$	434	$	385		$	420	$	376
West		596		493			540		423
Subtotal U.S.	$	491	$	425		$	464	$	394
Discontinued operations		322		391			340		366
Subtotal	$	458	$	417		$	443	$	389
Unconsolidated joint ventures discontinued operations		466		298			370		301
Total	$	458	$	405		$	441	$	382
Total Revenues:	Year Ended December 31,
(Dollars in thousands)	2014		2013
East	$	1,556,598	$	1,117,298
West		1,116,341		768,412
Mortgage Operations		35,493		30,371
Subtotal U.S.	$	2,708,432	$	1,916,081
Discontinued operations		395,070		407,156
Total	$	3,103,502	$	2,323,237
Homes Closed:	Year Ended December 31,
	2014					2013
(Dollars in thousands)	Homes		Value			Homes		Value
East		3,578	$	1,504,141			2,913	$	1,094,578
West		2,064		1,115,417			1,803		763,372
Subtotal U.S.		5,642	$	2,619,558			4,716	$	1,857,950
Discontinued operations		1,154		391,890			1,113		407,035
Subtotal		6,796	$	3,011,448			5,829	$	2,264,985
Unconsolidated joint ventures discontinued operations		177		65,568			441		132,525
Total		6,973	$	3,077,016			6,270	$	2,397,510
Net Sales Orders:	Year Ended December 31,
	2014					2013
(Dollars in thousands)	Homes		Value			Homes		Value
East		3,743	$	1,544,996			3,255	$	1,266,461
West		1,985		1,060,129			1,763		839,764
Subtotal U.S.		5,728	$	2,605,125			5,018	$	2,106,225
Discontinued operations		665		300,970			596		265,367
					��
Subtotal		6,393	$	2,906,095			5,614	$	2,371,592
Unconsolidated joint ventures discontinued operations		36		13,042			83		30,812
Total		6,429	$	2,919,137			5,697	$	2,402,404

Reconciliation of Non-GAAP Financial Measures

The following table sets forth a reconciliation between our home closings gross margin and our adjusted home closings gross margin. Adjusted home closings gross margin is a non-GAAP financial measure calculated based on gross margins, excluding impairments and capitalized interest amortization. Management uses adjusted home closings gross margins to evaluate our performance on a

consolidated basis as well as the performance of our regions. We believe adjusted home closings gross margin is useful to investors because it allows investors to evaluate the performance of our homebuilding operations without the often varying effects of interest costs capitalized.

This measure is considered a non-GAAP financial measure and should be considered in addition to, rather than as a substitute for, the comparable U.S. GAAP financial measures as a measure of our operating performance. Although other companies in the homebuilding industry report similar information, the methods used may differ. We urge investors to understand the methods used by other companies in the homebuilding industry to calculate net income and gross margins and any adjustments to such amounts before comparing our measures to those of such other companies.

Adjusted Gross Margin Reconciliation — Continuing Operations

	Three Months Ended December 31,
(Dollars in thousands)	2014			2013
Home closings revenue	$	965,668		$	620,638
Cost of home closings		778,224			475,049
Home closings gross margin		187,444			145,589
Add:
Capitalized interest amortization		25,382			10,029
Adjusted home closings gross margin	$	212,826		$	155,618
Home closings gross margin as a percentage of home closings revenue		19.4	%		23.5	%
Adjusted home closings gross margin as a percentage of home closings revenue		22.0	%		25.1	%
	Year Ended December 31,
(Dollars in thousands)	2014			2013
Home closings revenue	$	2,619,558		$	1,857,950
Cost of home closings		2,082,819			1,457,454
Home closings gross margin		536,739			400,496
Add:
Capitalized interest amortization		65,098			34,147
Adjusted home closings gross margin	$	601,837		$	434,643
Home closings gross margin as a percentage of home closings revenue		20.5	%		21.6	%
Adjusted home closings gross margin as a percentage of home closings revenue		23.0	%		23.4	%