Taylor Morrison Home (TMHC) 8-K Taylor Morrison Reports Third Quarter Closings of 2,115, an increase of 15% over the prior year, and Earnings per Share of $0.83

Exhibit 99.1

News Release

CONTACT: Investor Relations

Taylor Morrison Home Corporation

(480)734-2060

investor@taylormorrison.com

Taylor Morrison Reports Third Quarter Closings of 2,115, an increase of 15% over the prior year, and Earnings per Share of $0.83

SCOTTSDALE, Ariz., Oct. 31, 2018 –– Taylor Morrison Home Corporation (NYSE: TMHC) today reported third quarter total revenue of $1,036 million and home closings gross margin, inclusive of capitalized interest, of 18.9 percent leading to diluted earnings per share of $0.83.

Third Quarter 2018 Highlights:

• Net income was $94 million with diluted earnings per share of $0.83

• Home closings were 2,115, a 15% increase over the prior year quarter

• Total revenue was $1,036 million, a 14% increase over the prior year quarter

• Sales per outlet were 2.2, a 10% increase over the prior year quarter

• Net sales orders were 1,822, a 3% increase over the prior year quarter

• Home closings gross margin, inclusive of capitalized interest, was 18.9 percent, a sequential improvement of 90 basis points from the second quarter of 2018

“I’m pleased to share that once again we have delivered or exceeded on all points of our guidance—a direct reflection of our teams’ effort and focus on driving shareholder value,” said Chairman and CEO, Sheryl Palmer.

For the third quarter, net sales orders were 1,822 with an average community count of 275. The Company ended the quarter with 4,449 units in backlog with a sales value of more than $2.3 billion.

“On Oct. 2, we announced the closing of the AV Homes acquisition, the timing consistent with what we shared in early June when we made our initial announcement with the intent to acquire,” added Palmer. “We’re very pleased with the purchase at book value and believe it to be the right strategic transaction, at the right price and time. From that initial announcement through today, all parties involved have worked at an accelerated pace to assure that we would be in the best position for a successful integration. Today, the integration is further along than I would have imagined by this point and I’m delighted with our progress.”

Palmer also added, “The sales environment has been getting a lot of coverage this earnings cycle as the industry has seen moderation in sales paces. We believe there are differing factors at play including an adjustment period as buyers assess the interest rate and affordability environment. Looking at the macro data—including the underbuilding of single-family homes and a healthy U.S. economy—at this time, we believe this break in momentum is likely a pause in the extended cycle.”

“Our earnings before income taxes were $101 million, or 9.7 percent of revenue. Home closings gross margin, inclusive of capitalized interest, was 18.9 percent, representing a 30 basis point increase from the third quarter of 2017 and a 90 basis point increase from the second quarter of 2018,” said Dave Cone, Executive Vice President and Chief Financial Officer. “Income taxes were $6 million for the quarter, representing an effective tax rate of 6.4 percent. This was driven by a number ofone-time tax reductions including accelerated deductions following an inventory analysis, a favorable conclusion of a state tax audit and utilization of foreign tax credits relating to the deemed repatriation of foreign earnings mandated by tax reform.”

Homebuilding inventories were $3.3 billion at the end of the quarter, including 5,478 homes in inventory, compared to 5,282 homes in inventory at the end of the prior year quarter. Homes in inventory at the end of the quarter consisted of 3,478 sold units, 381 model homes and 1,619 inventory units, of which 247 were finished.

The Company finished the quarter with $383 million in cash, total debt of $1.46 billion and a net homebuilding debt to capitalization ratio of 30.4 percent. The Company purchased approximately 3 million of its shares for $48 million since the close of the AV Homes transaction in early October 2018. The remaining balance on the share repurchase authorization is $48 million, which expires at the end of this year. As of September 30, 2018, Taylor Morrison owned or controlled approximately 42,000 lots, representing 5.0 years of supply, and is focused on securing land for 2020 and beyond.

Earlier this month, the Company announced a corporate structure reorganization related to the dual class share structure and final repatriated proceeds from the sale of our Monarch business in Canada. The latter will result in two fourth quarter expenses for a total of about $36 million; $20 million will be in the other expense line and is a non-cash event and the other approximately $16 million charge will be in the tax expense line which is factored into the effective tax rate guidance and it is a cash event. As a result of this reorganization, the Company will reduce future tax expense.

Quarterly Financial Comparison
($ thousands)
	Q3 2018		Q3 2017		Q3 2018 vs. Q3 2017
Total Revenue		$1,036,379		$908,027		14.1%
Home Closings Revenue		$1,014,168		$886,249		14.4%
Home Closings Gross Margin		$191,218		$164,612		16.2%
		18.9%		18.6%		30 bps increase
SG&A		$100,520		$94,850		6.0%
% of Home Closings Revenue		9.9%		10.7%		80 bps leverage

Fourth Quarter and Full Year 2018 Business Outlook Including AV Homes

Fourth Quarter 2018:

• Average active community count is expected to be approximately 330

• Home closings are expected to be about 3,125

• Home closings gross margin, inclusive of capitalized interest and purchase accounting, is expected to be in the mid 16 percent range

• SG&A as a percentage of homebuilding revenue is expected to be in the low to mid 9 percent range

• Effective tax rate, inclusive of one time charges, is expected to be between 42 and 44 percent

• Effective tax rate, excluding one time charges, is expected to be between 23 and 25 percent

• Diluted share count is expected to be about 119 million

Full Year 2018:

• Average active community count is expected to be approximately 300

• Average monthly absorption pace is expected to be about 2.4 per outlet

• Home closings are expected to be about 8,800

• Home closings gross margin, inclusive of capitalized interest and purchase accounting, is expected to be in the high 17 percent range

• SG&A as a percentage of homebuilding revenue is expected to be in the low 10 percent range

• Income from unconsolidated joint ventures is expected to be approximately $12 million

• Land and development spend is expected to be approximately $1.1 billion

• Effective tax rate, inclusive of one time charges, is expected to be between 22 and 24 percent

• Diluted share count is expected to be about 115 million

Earnings Webcast

A public webcast to discuss the third quarter 2018 earnings will be held later today at 8:30 a.m. Eastern time. The participantdial-in is 1 (855)470-8731 and the passcode is 5098754. 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 that has been recognized as the 2016, 2017 and 2018 America’s Most Trusted^® Home Builder by Lifestory Research. Based in Scottsdale, Arizona we operate under two well-established brands, Taylor Morrison and Darling Homes. We serve a wide array of consumer groups from coast to coast, including first-time,move-up, luxury, and 55 plus buyers. In Texas, Darling Homes builds communities with a focus on individuality and custom detail while delivering on the Taylor Morrison standard of excellence.

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: changes in general and local economic conditions (including as a result of recent extreme weather conditions); slowdowns or severe downturns in the housing market; homebuyers’ ability to obtain suitable financing; increases in interest rates, taxes or government fees; impacts from the recently enacted tax reform legislation; shortages in, disruptions of and cost of labor; competition in our industry; any increase in unemployment or underemployment; inflation or deflation; the seasonality of our business; our ability to obtain additional performance, payment and completion surety bonds and letters of credit; higher cancellation rates; significant home warranty and construction defect claims; our reliance on subcontractors; failure to manage land acquisitions, inventory and development and construction processes; availability of land and lots; decreases in the market value of our land inventory; new or changes in government regulations and legal challenges; our compliance with environmental laws; our ability to sell mortgages we originate and claims on loans sold to third parties; governmental regulation applicable to our mortgage operations and title

services business; the loss of any of our important commercial relationships; our ability to use deferred tax assets; raw materials and building supply shortages and price fluctuations; our concentration of significant operations in certain geographic areas; risks associated with our unconsolidated joint venture arrangements; information technology failures and data security breaches; costs to engage in and the success of future growth or expansion of our operations or acquisitions or disposals of businesses; costs associated with our defined benefit and defined contribution pension schemes; damages associated with any major health and safety incident; our ownership, leasing or occupation of land and the use of hazardous materials; material losses in excess of insurance limits; existing or future litigation, arbitration or other claims; negative publicity or poor relations with the residents of our communities; failure to recruit, retain and develop highly skilled, competent people; utility and resource shortages or rate fluctuations; constriction of the capital markets; risks related to our debt and the agreements governing such debt; our ability to access the capital markets; risks related to our structure and organization; the inherent uncertainty associated with financial or other projections; and risks related to the integration of Taylor Morrison and AV Homes and the ability to recognize the anticipated benefits from the combination of Taylor Morrison and AV Homes. In addition, other such risks and uncertainties may be found in our most recent annual report on Form10-K filed with the Securities and Exchange Commission (SEC) as such factors may be updated from time to time in our periodic filings with the SEC. 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.

Taylor Morrison Home Corporation

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts, unaudited)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Home closings revenue, net	$	1,014,168	$	886,249	$	2,703,692	$	2,526,830
Land closings revenue		5,170		4,299		18,335		11,419
Financial services revenue		17,041		17,479		47,513		47,362
Total revenues		1,036,379		908,027		2,769,540		2,585,611
Cost of home closings		822,950		721,637		2,202,377		2,062,437
Cost of land closings		3,979		3,002		14,704		7,869
Financial services expenses		10,451		12,070		31,647		30,874
Total cost of revenues		837,380		736,709		2,248,728		2,101,180
Gross margin		198,999		171,318		520,812		484,431
Sales, commissions and other marketing costs		67,504		61,476		185,806		178,609
General and administrative expenses		33,016		33,374		101,795		100,396
Equity in income of unconsolidated entities		(2,514)		(2,787)		(9,777)		(6,943)
Interest income, net		(670)		(135)		(1,289)		(314)
Other expense, net		798		415		4,889		828
Income before income taxes		100,865		78,975		239,388		211,855
Income tax provision		6,424		24,282		38,123		65,631
Net income before allocation tonon-controlling interests		94,441		54,693		201,265		146,224
Net income attributable tonon-controlling interests - joint ventures		(159)		(427)		(428)		(625)
Net income beforenon-controlling interests		94,282		54,266		200,837		145,599
Net income attributable tonon-controlling interests		(714)		(21,390)		(4,391)		(76,810)
Net income available to Taylor Morrison Home Corporation	$	93,568	$	32,876	$	196,446	$	68,789
Earnings per common share
Basic	$	0.84	$	0.45	$	1.75	$	1.21
Diluted	$	0.83	$	0.45	$	1.73	$	1.21
Weighted average number of shares of common stock:
Basic		111,396		72,471		112,449		56,791
Diluted		113,440		121,183		116,378		120,991

Taylor Morrison Home Corporation

Condensed Consolidated Balance Sheets

(In thousands)

	September 30, 2018		December 31, 2017
	(Unaudited)
Assets
Cash and cash equivalents	$	382,054	$	573,925
Restricted cash		1,319		1,578
Total cash, cash equivalents, and restricted cash		383,373		575,503
Owned inventory		3,255,300		2,956,709
Real estate not owned		13,811		2,527
Total real estate inventory		3,269,111		2,959,236
Land deposits		47,855		49,768
Mortgage loans held for sale		83,751		187,038
Hedging assets		2,329		1,584
Prepaid expenses and other assets, net		56,828		72,334
Other receivables, net		98,048		94,488
Investments in unconsolidated entities		179,249		192,364
Deferred tax assets, net		105,356		118,138
Property and equipment, net		38,258		7,112
Intangible assets, net		1,337		2,130
Goodwill		66,198		66,198
Total assets	$	4,331,693	$	4,325,893
Liabilities
Accounts payable	$	124,731	$	140,165
Accrued expenses and other liabilities		188,681		201,540
Income taxes payable		—		4,525
Customer deposits		189,116		132,529
Senior notes, net		1,241,514		1,239,787
Loans payable and other borrowings		160,173		139,453
Revolving credit facility borrowings		—		—
Mortgage warehouse borrowings		54,457		118,822
Liabilities attributable to real estate not owned		13,811		2,527
Total liabilities	$	1,972,483	$	1,979,348
Stockholders’ Equity
Total stockholders’ equity		2,359,210		2,346,545
Total liabilities and stockholders’ equity	$	4,331,693	$	4,325,893

Homes Closed and Home Closings Revenue, Net

	Three Months Ended September 30,
	Homes Closed							Home Closings Revenue, Net						Average Selling Price
(Dollars in thousands)	2018		2017		Change			2018		2017		Change		2018		2017		Change
East		953		776		22.8%		$	392,767	$	311,526		26.1%	$	412	$	401		2.7 %
Central		594		531		11.9			272,980		253,556		7.7		460		478		(3.8)
West		568		535		6.2			348,421		321,167		8.5		613		600		2.2
Total		2,115		1,842		14.8%		$	1,014,168	$	886,249		14.4%	$	480	$	481		(0.2)%
	Nine Months Ended September 30,
	Homes Closed							Home Closings Revenue, Net						Average Selling Price
(Dollars in thousands)	2018		2017		Change		��	2018		2017		Change		2018		2017		Change
East		2,528		2,238		13.0%		$	1,033,553	$	891,740		15.9%	$	409	$	398		2.8%
Central		1,645		1,512		8.8			780,682		723,758		7.9		475		479		(0.8)
West		1,481		1,585		(6.6)			889,457		911,332		(2.4)		601		575		4.5
Total		5,654		5,335		6.0%		$	2,703,692	$	2,526,830		7.0%	$	478	$	474		0.8%
Net Sales Orders:
	Three Months Ended September 30,
	Net Sales Orders							Sales Value						Average Selling Price
(Dollars in thousands)	2018		2017		Change			2018		2017		Change		2018		2017		Change
East		710		777		(8.6)%		$	289,200	$	302,795		(4.5)%	$	407	$	390		4.4%
Central		617		521		18.4			298,111		247,084		20.7		483		474		1.9
West		495		463		6.9			306,004		300,815		1.7		618		650		(4.9)
Total		1,822		1,761		3.5 %		$	893,315	$	850,694		5.0 %	$	490	$	483		1.4%
	Nine Months Ended September 30,
	Net Sales Orders							Sales Value						Average Selling Price
(Dollars in thousands)	2018		2017		Change			2018		2017		Change		2018		2017		Change
East		2,604		2,923		(10.9)%		$	1,096,008	$	1,132,839		(3.3)%	$	421	$	388		8.5%
Central		2,204		1,826		20.7			1,064,852		864,797		23.1		483		474		1.9
West		1,799		1,813		(0.8)			1,128,763		1,088,661		3.7		627		600		4.5
Total		6,607		6,562		0.7 %		$	3,289,623	$	3,086,297		6.6 %	$	498	$	470		6.0%
Sales Order Backlog:
	As of September 30,
	Sold Homes in Backlog							Sales Value						Average Selling Price
(Dollars in thousands)	2018		2017		Change			2018		2017		Change		2018		2017		Change
East		1,589		1,905		(16.6)%		$	754,666	$	774,001		(2.5)%	$	475	$	406		17.0%
Central		1,610		1,272		26.6			814,173		653,415		24.6		506		514		(1.6)
West		1,250		1,182		5.8			771,135		697,790		10.5		617		590		4.6
Total		4,449		4,359		2.1 %		$	2,339,974	$	2,125,206		10.1 %	$	526	$	488		7.8%

Average Active Selling Communities:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		Change		2018		2017		Change
East		109		130		(16.2)%		119		127		(6.3)%
Central		118		118		—		119		118		0.8
West		48		45		6.7		50		51		(2.0)
Total		275		293		(6.1)%		288		296		(2.7)%

Reconciliation ofNon-GAAP Financial Measures

The following tables set forth reconciliations of: (i) EBITDA and adjusted EBITDA to net income before allocation tonon-controlling interests, (ii) adjusted income tax and (iii) net homebuilding debt to total capitalization ratio.

Adjusted EBITDA is anon-GAAP financial measure that measures performance by adjusting net income to exclude interest amortized to cost of sales and interest income, net, income taxes, depreciation and amortization,non-cash compensation expense and loss on extinguishment of debt, if any. Adjusted income tax is anon-GAAP financial measure that measures our income tax liabilities by adjusting income taxes payable to exclude a number ofone-time tax reductions including an acceleration of tax deductions following an inventory analysis, a favorable conclusion of a state tax audit centered on NOL’s and benefit due to a repatriation of foreign earnings and utilization of foreign tax credits. Net homebuilding debt to capitalization is anon-GAAP financial measure we calculate by dividing (i) total debt, less unamortized debt issuance costs and mortgage warehouse borrowings, net of unrestricted cash and cash equivalents, by (ii) total capitalization (the sum of net homebuilding debt and total stockholders’ equity).

Management uses thesenon-GAAP financial measures to evaluate our performance on a consolidated basis, as well as the performance of our regions, and to set targets for performance-based compensation. We also use the ratio of net homebuilding debt to total capitalization as an indicator of overall leverage and to evaluate our performance against other companies in the homebuilding industry. In the future, we may include additional adjustments in the above describednon-GAAP financial measures to the extent we deem them appropriate and useful to management and investors.

We believe adjusted EBITDA provides useful information to investors regarding our results of operations because it allows investors to evaluate our performance without the effects of various items we do not believe are characteristic of our ongoing operations or performance and because it assists both investors and management in analyzing and benchmarking the performance and value of our business. Adjusted EBITDA also 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, ornon-recurring items. We believe adjusted income tax provides useful information to investors because it allows investors to evaluate our income tax liabilities without the effects of various items we do not believe are characteristic of our ongoing income tax exposure and because it assists both investors and management in analyzing and benchmarking the value of our business. Because we use the ratio of net homebuilding debt to total capitalization to evaluate our performance against other companies in the homebuilding industry, we believe this measure is also relevant and useful to investors for that reason.

Thesenon-GAAP financial measures and should be considered in addition to, rather than as a substitute for, the comparable U.S. GAAP financial measures of our operating performance or liquidity. Although other companies in the homebuilding industry may report similar information, their definitions may differ. We urge investors to understand the methods used by other companies to calculate similarly-titlednon-GAAP financial measures before comparing their measures to ours.

Adjusted EBITDA Reconciliation

	Three Months Ended September 30,
(Dollars in thousands)	2018		2017
Net income before allocation tonon-controlling interests	$	94,441	$	54,693
Interest income, net		(670)		(135)
Amortization of capitalized interest		21,345		21,789
Income tax provision		6,424		24,282
Depreciation and amortization		985		896
EBITDA	$	122,525	$	101,525
Non-cash compensation expense		3,591		3,377
Adjusted EBITDA	$	126,116	$	104,902

Adjusted Income Tax Provision Reconciliation

	Three Months Ended September 30,
(Dollars in thousands)	2018		2017
Income tax provision	$	6,424	$	24,282
Acceleration of tax deductions related to inventory	$	8,075	$	—
Settlement of state tax audit	$	7,875	$	—
Utilization of foreign tax credits related to the repatriation of foreign earnings	$	3,220	$	—
Adjusted income tax provision	$	25,594	$	24,282
Adjusted effective tax rate		25.4%		30.7	%

Net Homebuilding Debt to Capitalization Ratio Reconciliation

(Dollars in thousands)	As of September 30, 2018
Total debt	$	1,456,144
Unamortized debt issuance costs		8,486
Less mortgage warehouse borrowings		54,457
Total homebuilding debt	$	1,410,173
Less cash and cash equivalents		382,054
Net homebuilding debt	$	1,028,119
Total equity		2,359,210
Total capitalization	$	3,387,329
Net homebuilding debt to capitalization ratio		30.4%