SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — Taylor Morrison Home Corp. (TMHC) on Wednesday reported fourth-quarter profit of $172.6 million.

The Scottsdale, Arizona-based company said it had net income of $1.58 per share. Earnings, adjusted for non-recurring costs, came to $2.05 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.

The home builder posted revenue of $2.02 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.86 billion.

For the year, the company reported profit of $768.9 million, or $6.98 per share. Revenue was reported as $7.42 billion.

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