PKB - Why Builder D.R. Horton Shares Are Surging Today | Benzinga
D.R. Horton, Inc. (NYSE:DHI) shares are trading higher after the company reported better-than-expected second-quarter FY24 financial results and issued guidance above estimates.
Sales grew 14% Y/Y to $9.1 billion, beating the consensus of $8.3 billion. Net sales orders increased 14% Y/Y to 26,456 homes and 17% in value to $10.1 billion.
Homes closed in the quarter increased 15% Y/Y to 22,548 homes and 14% Y/Y in value to $8.5 billion.
EPS was $3.52 (+29% Y/Y), beating the consensus of $3.06.
Sales order backlog of homes under contract as of March 31, 2024, decreased 7% to 17,873 homes and 5% in value to $7.0 billion.
D.R. Horton had 45,000 homes ...