Taylor Wimpey 2023 Results Overview

Taylor Wimpey is set to announce its 2023 results on Wednesday, shedding light on key details.

Revenue Expectations

The U.K. house builder's revenue for the year is anticipated to reduce to 3.49 billion pounds ($4.43 billion), down from GBP4.42 billion in the previous year, as per company-compiled consensus data.

Pretax Profit Prediction

Pretax profit is forecasted to decline to GBP467 million from GBP827.9 million in the preceding year, based on company-compiled estimates. Notably, the house builder previously mentioned a decrease in its order book year-over-year, with total home completions dropping to 10,848 in 2023 from 14,154 in the prior year.

Adjusted Operating Profit Outlook

Adjusted operating profit, a pivotal metric that excludes exceptional and one-off items, is projected to align with the upper range of Taylor Wimpey's guidance set at GBP440 million to GBP470 million.

The current trading price of shares stands approximately at 140.60 pence, reflecting a 14% increase over the past 12 months.

Key Points to Monitor

  • Sales Rates Analysis: Market attention is likely to gravitate towards the company's sales rates, indicating a stable market environment, along with insights on a potentially improving mortgage market, as suggested by Morgan Stanley analyst Cedar Ekblom.

  • Future Guidance and Initiatives: With no specific guidance provided for 2024, focus areas include Taylor Wimpey's margin outlook for the upcoming year and the possibility of any forthcoming cost-cutting initiatives, according to Ekblom.

Stay tuned for the latest updates on Taylor Wimpey's financial performance.

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