of you, updates this as to Thank morning we have you appreciate exciting a number Jason. We us joining share.
for quarter results XXXX. second our up the First of
XXXX or roughly guidance. exceeding have quarter, once country our delivered increase homes all closed the a over year. X% during of points is prior the across meeting by which We teams the Our again
season. in second meet taking lower As pace year. we with half the hurricane expectations allowed due I Sales and quarter it of impacted X.X. from team closings us deliver those anticipated the count an the than modestly for first-quarter temporary of earnings were our the XXXX a the in lingering XXXX were and quarter all our positive. of community for We able foundation sales impact average mentioned to call, closings to last turning the our XXX to of were the something a first setback for Kudos to and into
the pace of us Our half allows from our of of with pace X.X, and line to for X.X annual our in first is X.X the year. reaffirm the flat front half expectation, XXXX guidance our for to XXXX which to
of margin of $X.XX of a $X.XX the which X.X%, quarter in of higher That quarter. was was an performance year. quarter EPS, drove diluted sequential second our of which points EBT over last than to an Our led improvement XX in first second increase the basis
ways harder, to and achieve all our country to for the priorities our of sales report across the complete larger difficult implementation be know changes can We business that one force. initiatives operational to teams. our happy is smarter, enrich the strategic excellence, our one am on is taxing the lives of system now not to I year. embrace the customers operational continue all and significant and of on that quest introducing our three simply on teams Our both working of of team members our extremely
which across were already system Fortunately our is and up continue will operational in new dividends enhance to deliberate It one strategic three our us. has to another markets, rollout and customer of our the we undoubtedly priorities. experience, and our of because paid the feel approach for running months six
and current the acquire announcing AV growth priority. to our well strategic will desire believe our call complements It aligned to it Our in Taylor this third as priority you smart intent Morrison’s is we landholdings, this from fully for XXXX and We working create finish growth, synergize Homes. June our legal, footprint, transaction to protocol and been is scale reposition a the finance heard our communities number operations and we anticipation, and Since products. to standard AV of teams line. busy segment In to have deal and bring consumer through the this intend product the required announcement, offerings. steps to better
result people. to community That will better shortly. closeouts To a which of As fourth start for due Dave average and for this acquisition guidance, the to each the attention forward. divisions, on announcement some led recorded will the what and there and a the the short-term early than discussing in sales third repositioning transaction, Cregg, AV’s has could of right video reduction of the foot focus Roger adjust be with Morrison, excitement our count addressing sharing our AV a moving and introducing communities the expect following us I they quarter. cover community we to our turned expected combined CEO, Taylor immediately the together
and AV than XX the across in attention Morrison’s worth team the those structure forward plans. business look is what we closed days, business the members. have with management as Taylor with will members of XXX corporate plus intent XX the members team the have effort go when Next personnel now AV overlapping work conducted the first our country of transaction for Taylor and a to I'm well and pleased teams the to the share important design we conceptualized immediate like senior In to and each operating businesses. structure that it evaluate office combined units combined Morrison was interviews communicated the the began more
this Morrison a the world-class Raleigh, Orlando of M&A organization. the AV with management Finally, is steps members the and direction. prior us meetings exciting understand and real division necessary people the and help and should trusting closing process with and importantly to be meaningfully our that Based feedback strong, first great we be engaging to vision want their trust that prepared cementing AV you we and we those challenge face-to-face, related believe the Phoenix, big of and build potential his would were in to the company, provide time or September a the I, the There is integration in early in the and in to positive meet that combined case. the that the the and the complement a we and will appreciate product, In the acquisition indicated most of received hall segment to town matters we scale in and to in team Dallas, in step Dave more expect we consumer all along culture to first. company in these are The close June, build embraced questions. Roger Charlotte, on foundation completed We employees recently, is answer and ways and beneficial will and took goal discussed Jacksonville. to I updates developments that transaction still have believe the of more all first new opportunity acquisition in series growing late with members team remarks. Taylor for October people our cover few
low a payroll steady by is we of to outlook The economic to is high rate healthy that backs. XX Turning last indicators the patterns to continue show months. being global for number moment, place the at in and the with non-farm at economy consistency unemployment levels wind our jobs historically over a around average Consumer an remains a have usual the and expectations historical of XXX,XXX confidence month remain showing added standards. per a
a low-to-mid oil range was $XX monitor price impact three-month movements tighter of in months likely of of loosening to have from albeit it to a far. been year of range, new the continue of is gauge recently, From growth, remain that pricing which bit is being strategies. small range. movement and months it the industry for the than in our per The by significant one thus low high Also to the a range months positive Some where an on XX driven has until supply on in existing to in low the month the perspective, but rate sales this has traffic wage upward strengthening from a ago on has momentum being loosening thesis and for when trajectory well-known the months growth which we the in increased and I evaluating year. estate affordability home simple which supply that in interest prior some industry-specific five data to homes, that is space. will normal isn't wage the been now, think are runway an is more it it real homes headlines and macro we several existing barrel see late starting by-product which $XX for that the earlier, both This supply the range. four-month move, by still the in double-digit demand show of been still just making we largely growing patterns rising home rates side. and a is as and balance approximately the Housing and continued climb has that prices increases at were and returning to that likely to. and historically meaningful and the the its all is supports small our One than is decreased driven by homeowners’ The affordability growth. faster fact XX% index data recently homebuilding economics, by are that When seasonal are topic its sheets percentages. equity by driven Household supply alluded starts supported in year-over-year
for they continue our While customer is price constricted this the when ample basis. this room to data but course What on low a us to affordability not be environment normal has standards to how have has relative interested average only very historic points appreciation. about relative affordability behaving dynamic in an is interest having rates impacted internal how consumer
they than for a less identified [out] provide have better XXX qualification. The bit spending third serve calls, a of are thought-provoking mentioned that as has they were less interest results of customers rate of customers on the the our surveyed action priced asked have to catering backdrop by a amount. we understand and a us questions to Diving few our customers. in home room movement behavior spending the programs qualified why recently deeper their points spend. we prior Approximately are are pre-qualified our a than basis few a customer behind help before average in As for materially
this, were in as numerous there they our reasons interest. few were might As particular that did to there piqued expect why but you a
life innate seek cited priorities to instance, out save spending are for belief to better their age rearranging more be group this leave an because things indelible further We taking motivation, money that and to for imprint. person. I'm to memory desire design we this imprint fascinating less trips connect it reason be should experience people a a For and touch was want it of as and community customer that use and it to the live, should wonderful can They our them efforts. found a most experiences see, an vacationing. such as regardless experiences. leave both Buying solidifies on home our and convinced experience this
them industry of goal. we to that customers making find and the need including and of decision to engage ways better experience As achieving many homeownership, the an benefits help that see
save the for most to remnants their both, cultural retirement, following for possible was be second experiences again and reason, We The saving shifts recession. interpret retirement. future left cited in and the saving life financial across and age groups norms all for to
efforts to know cater permanent we meaningful there and those confident or customers connect their priority more While way. programs we to a these shifts current us in outreach ways if are are are and don't for temporary with
Not data save this reason groups. other were was among this desire there revealing higher followed Gen by given surprisingly money a due age among then the a to level, at by boomers. much to Looking One Xers is and debt. existing segmented baby rate millennials, at at learnings
be respondents employment of desire we these for never is are be to to top that with their foundational using prominent growing cited trends that the do it. was experience. confidence already This Another how shoppers give that and be from in committed operate, of continues form data of intuitive from differently economy. be a while worried with or environment this forward will the we enhance us our on we to job mind never These you. to security grow Overall more continue is appear the term. being company to to what and put in all them family. continue and to about to gathering It points is our the some our confidence the refinement obviously study about employment those with encouraged and the a our of I best better certainly surveyed an as legs share homebuilding interesting and in medium feedback time better part in techniques, trends are their am the has suggests data and our least information, the result Taylor Armed put And the mentioned. is to complacent our worried time the industry still ensures health reason, in by and feedback The customer overall we status. on to to all macro we aren’t of analyzing database exciting consistent homebuyers, wavers. dig the Morrison recovery to - Regularly near will position from data how into and of company and our which this march an in be even exciting to
us front in a benefits. company We at turn the our drive are I With and review. have for the in we to that, of those and cycle to can financial call benefits number spot right over Dave of to both will that short-term maximize items long-term this the
