Dream Finders Homes Shares Slide As Q2 Earnings Miss Estimates - Dream Finders Homes (NYSE:DFH)

Dream Finders Homes Inc (NASDAQ:DFH) reported second-quarter FY21 sales growth of 83% year-on-year, to $365.28 million, missing the analyst consensus of $507.67 million.
Home closings increased 91% Y/Y to 996 homes.
Net new orders grew 92% Y/Y to 1521 homes, and the cancellation rate fell 360 basis points to 14.4%.
The gross margin expanded 270 basis points to 16.5%.
The company held $53 million in cash and equivalents as of June 30, 2021.
Homes in backlog at Q2 end rose 184% Y/Y to 4137 units.
EPS of $0.31 missed the analyst consensus of $0.43.
"Price appreciation in our homes sold has flowed through to our margins, which are outpacing the industry-wide headwinds we are facing in the supply chain," said CEO Patrick Zalupski.
Outlook: Dream Finders Homes maintained its guidance of 5,000 - 6,000 home closings for the full year 2021.
Price action: DFH shares closed lower by 6.27% at $22.88 on Tuesday.

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