ITB - Builder D.R. Horton Beats On Q3 Earnings Authorizes $4B Stock Buyback Tightens FY24 Home Sales Forecast & More | Benzinga
D.R. Horton, Inc. (NYSE:DHI) shares are trading higher after the company reported third-quarter FY24 results.
Sales grew 2% Y/Y to $10.0 billion, beating the consensus of $9.77 billion. Net sales orders increased 1% Y/Y to 23,001 homes and were flat in value at $8.7 billion.
Homes closed in the quarter increased 5% Y/Y to 24,155 homes and 6% in value to $9.2 billion.
Sales order backlog of homes under contract as of June 30, 2024, decreased 12% to 16,792 homes and 12% in value to $6.6 billion.
D.R. Horton had 42,600 homes in inventory, of which 26,200 were unsold as of June-end.
EPS was $4.10 (+5% Y/Y), beating the consensus of $3.78.
Return on equity (ROE) was 21.5% for the trailing twelve months ended ...