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- D R Horton Inc (NYSE:DHI) reported third-quarter FY22 sales growth of 21% year-over-year to $8.8 billion, missing the consensus of $8.99 billion.
- EPS was $4.67, above the consensus of $4.49.
- Home sales revenues increased 18% Y/Y to $8.3 billion on 21,308 (-1% Y/Y) homes closed. Net sales orders increased 8% in value to $6.9 billion on 16,693 (7% Y/Y) homes sold.
- Consolidated pre-tax profit margin improved 540 bps to 24.8%.
- On June 30, 2022, D R Horton had 56,400 homes in inventory, of which 27,200 were unsold.
- Its homebuilding land and lot portfolio totaled 598,200 lots at the end of the quarter, of which 22% were owned, and 78% were controlled through land and lot purchase contracts.
- DHI’s ROE was 35.1% for the trailing twelve months ended June 30, 2022, and homebuilding ROI was 41.7% for the same period.
- Dividend: The company declared a quarterly cash dividend of $0.225 per common share that is payable on August 11, 2022, to stockholders of record on August 4, 2022.
- DHI repurchased 4.7 million shares of common stock for $310.0 million during the quarter. The remaining stock repurchase authorization on June 30, 2022, was $690 million.
- FY22 Outlook: D R Horton sees FY22 revenue of $33.8 billion - $34.6 billion (prior expectation of $35.3 billion - $36.1 billion) versus the consensus of $34.86 billion.
- It expects Homes closed to be 83,000 - 85,000 homes (prior expectation 88,000 - 90,000 homes).
- Price action: DHI shares are trading higher by 1.49% at $74.17 on the last check Thursday.
- Photo Via Company
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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