Taylor Morrison Home (TMHC) has reported 20.20 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $14.84 million, or $0.49 a share in the quarter, compared with $12.34 million, or $0.37 a share for the same period last year.

Revenue during the quarter grew 7.17 percent to $853.42 million from $796.29 million in the previous year period.

Cost of revenue rose 4.29 percent or $27.75 million during the quarter to $674.56 million. Gross margin for the quarter expanded 219 basis points over the previous year period to 20.96 percent.

Total expenses were $762.78 million for the quarter, up 5.13 percent or $37.22 million from year-ago period. Operating margin for the quarter expanded 174 basis points over the previous year period to 10.62 percent.

Operating income for the quarter was $90.63 million, compared with $70.73 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $115.54 million compared with $93.16 million in the prior year period. At the same time, adjusted EBITDA margin improved 184 basis points in the quarter to 13.54 percent from 11.70 percent in the last year period.

Revenue from real estate activities during the quarter increased 7.17 percent or $57.13 million to $853.42 million.

"We're extremely pleased with the organization’s strong performance in the third quarter," said Sheryl Palmer, president and chief executive officer of Taylor Morrison. "Most notably, our net sales orders increased 19% from the prior year quarter to 1,950, which is on top of last year’s same quarter year-over-year sales growth of 18%. We are also quite pleased with our October sales performance up about 23% year-over-year. Our home closings gross margin was 50 basis points higher than the prior year quarter coming in at 18.9%."

Real estate inventory stood at $3,287.30 million as on Sep. 30, 2016. Net receivables were at $129.16 million as on Sep. 30, 2016, up 0.81 percent or $1.03 million from year-ago. Accounts payable declined 11.15 percent or $18.31 million to $145.94 million on Sep. 30, 2016.

Investments stood at $119 million as on Sep. 30, 2016.

Total assets grew 3.59 percent or $147.87 million to $4,269.54 million on Sep. 30, 2016. On the other hand, total liabilities were at $2,186.50 million as on Sep. 30, 2016, down 0.72 percent or $15.76 million from year-ago.

Return on assets moved up 26 basis points to 1.37 percent in the quarter. At the same time, return on equity moved down 165 basis points to 0.71 percent in the quarter.