D.R. Horton Posts Mixed Q4 Results, Reaffirms Outlook

D.R. Horton, Inc. DHI reported mixed results for the fourth quarter. While EPS fell shy by $0.02 a share, revenue came in line with estimates.

• Reports 17.2 increase in EPS to $0.75, misses by $0.02.
• Delivers 18 percent growth in revenue to $3.65 billion, in line with the estimates.
• Increases quarterly dividend to $0.10 a share.
• Homes closed recorded 16 percent growth while value of homes closed advanced 19 percent.
• Net sale orders grew 3 percent while net sale value orders increased 7 percent.
• For fiscal year, the company expects consolidate revenues of $13.4-$13.8 billion versus $13.64 billion expected by analysts.
• Expects homes closed in the range of 43,500–45,500 in fiscal year 2017.

Chairman Donald Horton stated, "We remain focused on growing our revenues and pre-tax profits at a double-digit annual pace, while continuing to generate positive cash flows and improved returns. Based on our solid balance sheet, liquidity, profitability and cash flows, our Board of Directors increased our quarterly cash dividend by 25% to $0.10 per share. With a sales backlog of 11,475 homes, a robust supply of lots and homes and positive sales trends in October, we are excited and ready to capitalize on market opportunities to deliver another strong performance in fiscal 2017.”

D.R. Horton stock fell 5.52 percent to $27.75 in the pre-market session.