DR Horton Earnings: Here’s Why the Stock is Rising Now
DR Horton Inc. (NYSE:DHI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 7%.
DR Horton Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 146.15% to $0.32 in the quarter versus EPS of $0.13 in the year-earlier quarter.
Revenue: Rose 44.61% to $1.39 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: DR Horton Inc. reported adjusted EPS income of $0.32 per share. By that measure, the company beat the mean analyst estimate of $0.19. It beat the average revenue estimate of $1.26 billion.
Quoting Management: Donald R. Horton, Chairman of the Board, said, “The spring selling season is off to a strong start at D.R. Horton, with robust demand driving higher sales volumes and favorable pricing, which is reflected in the 14% increase in our average selling price. We are in an excellent position to continue to meet increased sales demand and aggregate market share with 15,800 homes in inventory and 175,000 lots owned or controlled under option contracts, of which 58,000 lots are fully developed.”
Key Stats (on next page)…