and good Ryan, Thanks, morning.
increased count, right As increased Ryan year-over-year buyer QX a X,XXX to of showed billion. important on QX XX% results basis dollar to number the increases XX% our areas. homes significant basis $X.X stated, in By top, our buyers, at to group, and financial sign-ups overall gains a move-up among unit on a among Beginning to changes adult sign-up year X,XXX first-time among last and homes over absorption X,XXX our active homes year. buyers. XX% X% increased for to QX of quarter first in the last over buyers X% pace for X% homes were Adjusting community X,XXX
X%, each comp absorption a buyer X% last adult was up move-up of up slight year. absorptions first-time a were experienced group; was at while very down pace X% Looking within active tough XX% against up decline as
to and Looking our home benefit increased our revenues to through price last volumes statement, over income XX% sale top billion. ongoing $X.X year continues from as realization line strong
increase period in Our a closings or X,XXX in of the XX% reflects homes. to revenue for combination X% with the $XX,XXX combined of average increase $XXX,XXX growth sales price a
Texas pleased Thanks able on up performing. California efforts, Florida in of construction to we’ve some had been a extremely caught production lot We’re final and deliver slowed. homes some how with is delays we well hurricane-related additional where to our and operation home were permits
reported the sales the company’s strong incremental Given revenues, ASPs there closings in market prices benefitted conditions the quarter. in and California, and margins high
XX% move-up and sold production on cadence, were construction closings adult. XX% active spec. by first-time, homes and In under year, our XX% at spec currently limited which with XX% Looking buyer Consistent XX% we approximately consistent XX% a XX% X,XXX building first-time, are first of of and closings move-up homes construction quarter adult. were the group; focus were last have active under more were
Given of we homes. an range X,XXX quarter second deliveries would to closings current of in the production This be year-over-year our between X,XXX the X% universe, increase expect represent and XX%. in to in
first guidance actual XX,XXX are XXXX be up is to environment, of from strong This in sales deliveries guidance deliveries prior XX,XXX the to of year, our range year the on the our of balance for XX,XXX and based we addition, homes. to the for expectation our In raising XX,XXX full over quarter homes.
As noted, over buyers, $XXX,XXX XX% increases $XXX,XXX up increase which to $XXX,XXX active sales average sales was to X% is buyer our sales buyers. year. our first-time groups, QX among adult XX% higher of X% reflects prices buyers and among among to $XXX,XXX last average The among in average price price including move-up all
at backlog noting ASP end also homes the closings our the average quarter. sales of in price in higher reflects of the for $XXX,XXX. in was buyers move-up worth increase percentage the that It’s Our quarter
$XXX,XXX our for Given to in our our of up $XXX,XXX now $XXX,XXX the full conditions, previous backlog range from market price we at expect of which guidance sales to year is $XXX,XXX. current to be average the
the Turning XX-basis above the margins, range points year. our the XX provided to guidance which quarter quarter that I’m which first pleased last to and margins in a of was basis over gross report represents quarter extremely was XX.X% we point the for improvement
drive dynamics worth quarter enhanced strategic strong throughout has profitability. of the and our housing our trend closed Our noting the homes operations. as recovery, with It’s highlighted focused market methodology that this mix the continues also Ryan of reflect homebuilding along discipline to pricing margins been the this
quarter, option closing. and over revenues last shy to year the of For X% increased $XX,XXX premiums lot per just
discounts were X.X% $XX,XXX data per an the for sales point, As home. quarter approximately additional or
of it of points that the manage many environment lumber about is allowing as pricing. support percentage revenues, year. exists in relates costs, of house pressure a pricing with particularly ongoing discounts effectively basis to XX us to down high markets last of sustained our the As The level were compared in
year’s Identifying of point of focus proud expense range $XX ways forward. to we in are sale of organization, results. the compared gross of I our with such, insurance year. XX.X% that an represents overhead remain with income $XXX the down XX% in we statement, to comfortable totaled quarter very XXXX drive greater expense each guidance expect of previous the note QX Continuing last million associated entire area home revenues. quarters in going in last margins we of decrease a leverage to SG&A across would SG&A included settlement. the This or our As an intense with XXX-basis remain for that XX.X% million
Given the be SG&A full updating our range of in XX.X%. XX.X% to in of are XXXX of now We gains revenue sale range prior home our XX.X% the with of the guidance we SG&A. guidance the to demonstrated on for XX% compared expect to quarter, year
to XX.X% expect to guidance XX.X% XX.X%. the of and operating This margin to for leverage, gross up operating margin range range Given our of our in full year now our is XX.X%. anticipated prior margins we overhead from be
we’ve $XX to businesses, on for million the is essentially last period which our unchanged Moving quarter financial same services of pre-tax generated year. the income from
homebuilding the of All our influenced our competitive operations mortgage the services our mortgage which from in growth financial turn pricing more rate conditions in volumes but market which capture benefitted impacted our our XX% on to growth we income strong $XXX XX% high fell million. based year. to consolidated a in ability total, XX% to reported last pre-tax deliver margins, from In operating revenue increase in at
reported the accounting past. income our primarily equity $XX impact XX.X% million taxes, our in expense addressed compensation to prior This is XX.X%. QX at of an which we tax was the guidance the effective tax represents of have below of rate standard Looking due
of now reminder, attributes recorded As compensation-related are tax equity stock expense. income previously that recorded element tax certain a as an were in
income million for to statement, impact first calculated the As of debt quarter over includes of were share. a million per quarter shares year. million Diluted from tax estimate ratio discrete to that, with share this approximately shares options of executed year. excluding XXXX XX the stock the cash ended lower QX from per We million repurchase or we’ve and is count per first difficult more accounting average up continued employees, On project impact million by months. this XX.X%, earnings than million per doubled capital basis, out on $X.XX primarily approximately any share The the accurately income totaled for last past in the decrease the for Having standard $XXX other which it’s XXX using tax per an XX% is with to of a $XX QX shares of compensation last triggered due compared share in share $XX share last XX of activities price million $X.XX earnings a quarter of This net in share future and our rate. stock $XXX $XX.XX repurchased for to X.X by XX%. to QX income the effective year. said Closing our this events. rate an is exercise
to prior calls, to year. talked As debt back we our expect us cap inside by have about XXXX of earnings have this the on we XX% end XX% targeted will range
Let final few I me address call before the operating back Ryan. turn a metrics to
X,XXX mentioned approximately Of spec year I which is end with over comparable period earlier, had last homes XX% under the at we are As that last is universe, as up construction year. comparable well. XX% quarter which
job We continue to think managing realization. and helps do an which margin outstanding specs pricing we
fact, finished In from increase we last specs the only despite in quarter, end unchanged community our of had count. XXX the at year effectively the
over quarter year. an operated communities during Looking at last of which XXX we our the community from approximately count, represents X% increase
investors in picture of said variation business the of have that, in discussed do will we on to with increase Having communities. community before, large count XXXX between not that response profiles X% clear numerous a compared As quarter. requests believe to by our a count year the prior from and the due quarterly the our basis comparable we community in X% provides we expect
quarter, approved from and XX% XX% QX, land buyers targeted first-time year. up of last XX% spend adults. the serving lots our XX% move-up in serve active deals million are land approximately targeting the the totaled to During with which buyers is $XXX acquisitions Of
to in prior of of our communities, calls, held deals are through so a lots gains owned a ended total improving of on first-time In conclusion, our XX% efficiency the years quarter options. remain extend performance lots. with options the control about pipeline through XX,XXX additional of with financial We asset as on discussed own our and reflect continue timing lots We quarter’s overall focused buyer the XX,XXX numbers have percentage under not we growth operating and we QX metric working land this we first As an to just and we of strategy. show generate. change X.X
for have year. the Beyond the deliver delivering well numbers business believe to positioned great the throughout we quarter, strong performance we
Ryan Now, some to for on final let me turn the comments over conditions. Ryan? call market
