Loading...
Loading...
reported a rise in its earnings for the second quarter on Wednesday.
The Fort Worth, Texas-based company reported a quarterly profit of $147.9 million, or $0.40 per share, versus a year-ago profit of $131 million, or $0.38 per share.
Home-building revenue gained 38 percent to $2.34 billion. However, analysts were projecting a profit of $0.38 per share on revenue of $2.21 billion.
Net sales orders climbed 33 percent in value to $3.2 billion from $2.4 billion, while sales orders surged 30 percent in homes to 11,135 from 8,569 homes.
Home closed in the first quarter jumped 38 percent in value to $2.3 billion from $1.7 billion, while the number of homes closed rose 33 percent in homes to 8,243 from 6,194 homes.
At March 31, 2015, sales-order backlog rose 27 percent in value to $3.6 billion and 21 percent in homes to 12,177.
Its gross margin shrank to 19.1 percent from 22.2 percent.
D.R. Horton declared a quarterly cash dividend of $0.0625 per common share.
The average estimate among 13 Estimize users was for earnings of $0.41 per share and revenue of $2.23 billion.
Donald R. Horton, Chairman of the Board, said, "The spring selling season at D.R. Horton is off to a strong start. In the second quarter, the value of our net sales orders, home sales revenue and sales order backlog increased year-over-year by 33%, 38% and 27%, respectively. Our sales increased by double-digit percentages in all three of our brands, reflecting strong performance in our core D.R. Horton communities and the expansion of our luxury brand, Emerald Homes, and our entry-level brand, Express Homes. Our increasingly diverse product offerings are enabling us to expand our industry-leading market share."
D.R. Horton shares rose 1.58 percent to $29.01 in pre-market trading.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in