Taylor Morrison Home (TMHC) 8-K Taylor Morrison Reports Fourth Quarter Revenue of $970 Million and Earnings per Share of $0.53

Exhibit 99.1

News Release

CONTACT: Investor Relations

Taylor Morrison Home Corporation

(480) 734-2060

investor@taylormorrison.com

Taylor Morrison Reports Fourth Quarter Revenue of $970 Million and Earnings per Share of $0.53

• Net sales orders increased 11% to 1,440 in the quarter and 17% to 6,681 for the year

• Average community count increased 30% to 286 in the quarter

• Backlog units at the end of the quarter were 2,932, a 30% increase over the prior year

• Home closings increased 5% to 2,068 in the quarter and 12% to 6,311 for the year

• Adjusted home closings gross margin was 20.9% for the quarter and 21.3% for the year

• On a GAAP basis, home closings gross margin was 18.3% for the quarter and 18.4% for the year

• Net income from continuing operations was $65 million for the quarter and $171 million for the year

SCOTTSDALE, Ariz., February 3, 2016 — Taylor Morrison Home Corporation (NYSE:TMHC) today reported fourth quarter total revenue of $970 million, net income of $65 million and earnings per share of $0.53.

“2015 proved to be a transformational year as expected. Our teams delivered a solid fourth quarter and full year. The year began with the sale of our Canadian business, which was quickly followed up with two acquisitions in 2015,” said Taylor Morrison’s President and CEO, Sheryl Palmer. “Through it all, we remained true to our four-pillar strategy of pursuing core locations, building distinctive communities, maintaining a cost efficient culture and balancing price and pace appropriately. And with the recent announcement of our acquisition of Acadia Homes & Neighborhoods, we enter 2016 poised to remain an industry leader.”

4th Quarter 2015 Key Business Highlights

• Average community count increased 30% from the prior year quarter to 286 average communities

• Net sales orders increased over 11% from the prior year quarter to 1,440

• Home closings increased over 5% from the prior year quarter to 2,068

• Backlog of homes under contract at the end of the quarter was 2,932 units, with a sales value of $1.4 billion

• Average price of homes closed was $452,000

• Average monthly absorption pace per community was 1.7 for the quarter

• Mortgage operations reported gross profit of $6.9 million on revenue of $14.3 million

Quarterly Financial Comparison*

($ millions)
	Q4 2015			Q4 2014			Q4 2015 vs. Q4 2014
Total Revenue	$	970		$	1,012			(4.2	)%
Home Closings Revenue	$	935		$	966			(3.2	)%
Home Closings Gross Margin	$	171		$	187			(8.6	)%
		18.3	%		19.4	%		(110	) bps
Adjusted Home Closings Gross Margin	$	195		$	213			(8.5	)%
		20.9	%		22.0	%		(110	) bps
SG&A % of Home Closings Revenue	$	87		$	78			11.5	%
		9.3	%		8.1	%		120 bps increase

* Excludes discontinued operations in Q4 2014.

Full Year 2015 Key Business Highlights

• Average community count increased 26% from the prior year to 259 average communities

• Net sales orders increased 17% to 6,681

• Home closings increased 12% to 6,311

• Average price of homes closed was $458,000

• Average monthly absorption pace per community was 2.15 for the year

• Mortgage operations reported gross profit of $17.5 million on revenue of $43.1 million

Annual Financial Comparison*

($ millions)
	2015			2014			2015 vs. 2014
Total Revenue	$	2,977		$	2,708			9.9	%
Home Closings Revenue	$	2,890		$	2,620			10.3	%
Home Closings Gross Margin	$	531		$	537			(1.1	)%
		18.4	%		20.5	%		(210	) bps
Adjusted Home Closings Gross Margin	$	614		$	602			2.0	%
		21.3	%		23.0	%		(170	) bps
SG&A % of Home Closings Revenue	$	294		$	250			17.6	%
		10.2	%		9.5	%		70 bps increase

* Excludes discontinued operations in fiscal year 2014.

The Company ended the quarter with homebuilding inventories of $3.1 billion and 3,851 homes in inventory, compared to 2,871 homes at the end of the prior year quarter. Homes in inventory at the end of the quarter consisted of 2,096 sold units, 438 model homes and 1,317 inventory units, of which 481 were finished. The Company owned or controlled approximately 43,000 lots at December 31, 2015.

First Quarter and Full Year 2016 Business Outlook

First Quarter 2016:

• Average community count – expected to be between 305 to 315

• Home closings – expected to be between 1,250 and 1,350

• GAAP home closings gross margin, including capitalized interest – expected to be in the mid-to-high 17% range

• Adjusted home closings gross margin, excluding capitalized interest – expected to be in the low 20% range

Full Year 2016:

• Average community count – expected to be between 310 to 320

• Home closings – year-over-year growth of between 10% to 15%

• GAAP home closings gross margin, including capitalized interest – expected to be in the low-to-mid 18% range

• Adjusted home closings gross margin, excluding capitalized interest – expected to be in the mid-to-high 20% range

• SG&A – expected to be around 10%

• Income from unconsolidated joint ventures – expected to be between $10 million and $15 million

• Land and development spend – expected to be at or just below $1 billion

• Effective tax rate – expected to be between 33% and 35%

Earnings Call Presentation

Company management will refer to a presentation as they discuss the results for Q4 and FY 2015 on the public webcast. This presentation can be found at the Taylor Morrison investor relations website at www.investors.taylormorrison.com under the Events tab at the top.

Earnings Webcast

A public webcast to discuss the fourth quarter 2015 earnings will be held later today at 8:30 a.m. Eastern time. The participant dial-in is 1(888)771-4371 and the confirmation number is 41610860. More information can be found on the Company’s investor relations website at investors.taylormorrison.com. A webcast replay will also be available on the site later today and will be available for one year from the date of the original earnings call.

About Taylor Morrison

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder 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 primarily 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; our ability to successfully integrate acquired assets and businesses; 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,						Twelve Months Ended December 31,
	2015			2014			2015			2014
Home closings revenue, net	$	934,798		$	965,668		$	2,889,968		$	2,619,558
Land closings revenue		21,059			33,462			43,770			53,381
Mortgage operations revenue		14,287			12,623			43,082			35,493
Total revenues		970,144			1,011,753			2,976,820			2,708,432
Cost of home closings		764,131			778,224			2,358,823			2,082,819
Cost of land closings		11,397			23,937			24,546			39,696
Mortgage operations expenses		7,415			6,030			25,536			19,671
Total cost of revenues		782,943			808,191			2,408,905			2,142,186
Gross margin		187,201			203,562			567,915			566,246
Sales, commissions and other marketing costs		61,950			54,535			198,676			168,897
General and administrative expenses		25,063			23,574			95,235			81,153
Equity in income of unconsolidated entities		(352	)		(1,937	)		(1,759	)		(5,405	)
Interest (income) expense, net		(26	)		33			(192	)		1,160
Other expense, net		9			7,877			11,634			18,447
Loss on extinguishment of debt		—			—			33,317			—
Gain on foreign currency forward		—			—			(29,983	)		—
Income from continuing operations before income taxes		100,557			119,480			260,987			301,994
Income tax provision		35,568			25,793			90,001			76,395
Net income from continuing operations		64,989			93,687			170,986			225,599
Discontinued operations:
Income from discontinued operations		—			17,243			—			61,786
Transaction expenses from discontinued operations		—			—			(9,043	)		—
Gain on sale of discontinued operations		—			—			80,205			—
Income tax benefit/(expense) from discontinued operations		1,397			(6,399	)		(13,103	)		(19,884	)
Net income from discontinued operations		1,397			10,844			58,059			41,902
Net income before allocation to non-controlling interests		66,386			104,531			229,045			267,501
Net income attributable to non-controlling interests – joint ventures		(254	)		(1,262	)		(1,681	)		(1,648	)
Net income before non-controlling interests – Principal Equityholders		66,132			103,269			227,364			265,853
Net income from continuing operations attributable to non-controlling interests – Principal Equityholders		(47,440	)		(67,482	)		(123,909	)		(163,790	)
Net income from discontinued operations attributable to non-controlling interests – Principal Equityholders		(1,025	)		(7,912	)		(42,406	)		(30,594	)
Net income available to Taylor Morrison Home Corporation	$	17,667		$	27,875		$	61,049		$	71,469
Earnings per common share – basic:
Income from continuing operations	$	0.53		$	0.75		$	1.38		$	1.83
Income from discontinued operations – net of tax	$	0.01		$	0.09		$	0.47		$	0.34
Net income available to Taylor Morrison Home Corporation	$	0.54		$	0.84		$	1.85		$	2.17
Earnings per common share – diluted:
Income from continuing operations	$	0.53		$	0.75		$	1.38		$	1.83
Income from discontinued operations – net of tax	$	0.01		$	0.09		$	0.47		$	0.34
Net income available to Taylor Morrison Home Corporation	$	0.54		$	0.84		$	1.85		$	2.17
Weighted average number of shares of common stock:
Basic		32,986			33,060			33,063			32,937
Diluted		122,298			122,348			122,384			122,313

Taylor Morrison Home Corporation

Condensed Consolidated Balance Sheets

(In thousands)

	December 31, 2015		December 31, 2014
	(Unaudited)
Assets
Cash and cash equivalents	$	126,188	$	234,217
Restricted cash		1,280		1,310
Real estate inventory:
Owned inventory		3,118,866		2,511,623
Real estate not owned under option agreements		7,921		6,698
Total real estate inventory		3,126,787		2,518,321
Land deposits		34,113		34,544
Mortgage loans held for sale		201,733		191,140
Prepaid expenses and other assets, net		95,191		89,210
Other receivables, net		120,729		85,274
Investments in unconsolidated entities		128,448		110,291
Deferred tax assets, net		233,488		258,190
Property and equipment, net		7,387		5,337
Intangible assets, net		4,248		5,459
Goodwill		57,698		23,375
Assets of discontinued operations		—		576,445
Total assets	$	4,137,290	$	4,133,113
Liabilities
Accounts payable	$	151,861	$	122,466
Accrued expenses and other liabilities		191,452		200,556
Income taxes payable		37,792		50,096
Customer deposits		92,319		70,465
Senior notes		1,250,000		1,388,840
Loans payable and other borrowings		134,824		147,516
Revolving credit facility borrowings		115,000		40,000
Mortgage warehouse borrowings		183,444		160,750
Liabilities attributable to consolidated option agreements		7,921		6,698
Liabilities of discontinued operations		—		168,565
Total liabilities	$	2,164,613	$	2,355,952
Stockholders’ Equity
Total stockholders’ equity		1,972,677		1,777,161
Total liabilities and stockholders’ equity	$	4,137,290	$	4,133,113

Homes Closed:	Three Months Ended December 31,
	2015				2014
(Dollars in thousands)	Homes		Value		Homes		Value
East		749	$	290,761		529	$	211,043
Central		654		297,249		748		343,604
West		665		346,788		690		411,021
Total		2,068	$	934,798		1,967	$	965,668
Net Sales Orders:	Three Months Ended December 31,
	2015				2014
(Dollars in thousands)	Homes		Value		Homes		Value
East		526	$	208,458		373	$	143,188
Central		392		183,344		502		219,561
West		522		279,133		420		200,662
Total		1,440	$	670,935		1,295	$	563,411
Homes Closed:	Twelve Months Ended December 31,
	2015				2014
(Dollars in thousands)	Homes		Value		Homes		Value
East		2,065	$	809,324		1,479	$	546,045
Central		2,140		990,925		2,099		958,096
West		2,106		1,089,719		2,064		1,115,417
Total		6,311	$	2,889,968		5,642	$	2,619,558
Net Sales Orders:	Twelve Months Ended December 31,
	2015				2014
(Dollars in thousands)	Homes		Value		Homes		Value
East		2,124	$	794,356		1,521	$	564,338
Central		2,018		912,623		2,222		980,658
West		2,539		1,262,101		1,985		1,060,129
Total		6,681	$	2,969,080		5,728	$	2,605,125
Sales Order Backlog:	As of December 31,
	2015				2014
(Dollars in thousands)	Homes		Value		Homes		Value
East		875	$	358,978		557	$	259,622
Central		1,030		519,251		1,152		547,226
West		1,027		514,744		543		292,919
Total		2,932	$	1,392,973		2,252	$	1,099,767
Average Active Selling Communities:	Three Months Ended December 31,				Twelve Months Ended December 31,
	2015		2014		2015		2014
East		102		69		91		65
Central		106		93		98		86
West		78		58		70		55
Total		286		220		259		206

Average Selling Price of Homes Closed:	Three Months Ended December 31,				Twelve Months Ended December 31,
(Dollars in thousands)	2015		2014		2015		2014
East	$	388	$	399	$	392	$	369
Central		455		459		463		456
West		521		596		517		540
Total	$	452	$	491	$	458	$	464

Reconciliation of Non-GAAP Financial Measures

The following tables set forth a reconciliation between our home closings gross margin and our adjusted home closings gross margin and our net income and adjusted EBITDA. Adjusted home closings gross margin is a non-GAAP financial measure calculated based on home closings gross margin, excluding impairments, if any, and capitalized interest amortization. Adjusted EBITDA is a non-GAAP financial metric that measures performance by adjusting net income from continuing operations to exclude interest, income taxes, depreciation and amortization, and non-cash compensation expenses. Management uses these non-GAAP measures to evaluate our performance on a consolidated basis as well as the performance of our regions. In the future we may include additional adjustments in the above described non-GAAP financial measures, to the extent we deem them appropriate and useful to management and investors.

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. We believe adjusted EBITDA provides useful information to investors regarding our results of operations for similar reasons and also because it assists both investors and management in analyzing and benchmarking the performance and value of our business. Adjusted EBITDA provides an indicator of general economic performance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, or non-recurring items.

These measures are considered non-GAAP financial measures 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 Home Closings Gross Margin Reconciliation — Continuing Operations

	Three Months Ended December 31,						Twelve Months Ended December 31,
(Dollars in thousands)	2015			2014			2015			2014
Home closings revenue	$	934,798		$	965,668		$	2,889,968		$	2,619,558
Cost of home closings		764,131			778,224			2,358,823			2,082,819
Home closings gross margin		170,667			187,444			531,145			536,739
Capitalized interest amortization		24,560			25,382			83,163			65,098
Adjusted home closings gross margin	$	195,227		$	212,826		$	614,308		$	601,837
Home closings gross margin as a percentage of home closings revenue		18.3	%		19.4	%		18.4	%		20.5	%
Adjusted home closings gross margin as a percentage of home closings revenue		20.9	%		22.0	%		21.3	%		23.0	%

Adjusted EBITDA Reconciliation

	Three Months Ended December 31,
(Dollars in thousands)	2015			2014
Net income from continuing operations	$	64,989		$	93,687
Interest expense (income), net		(26	)		33
Amortization of capitalized interest		24,560			25,449
Income tax provision		35,568			25,793
Depreciation and amortization		1,180			1,084
EBITDA	$	126,271		$	146,046
Non-cash compensation expense		2,169			1,505
Adjusted EBITDA	$	128,440		$	147,551