Builder D.R. Horton, Inc (NYSE:DHI) reported first-quarter fiscal 2024 sales growth of 7% year-over-year to $7.73 billion, beating the consensus of $7.60 billion.
Net sales orders increased 35% to 18,069 homes and 38% Y/Y in value to $6.8 billion.
Homes closed in the quarter increased 12% Y/Y to 19,340 homes compared to 17,340 homes closed in same quarter 2023.
EPS was $2.82 (+2% Y/Y), missing the consensus of $2.88.
DHI’s sales order backlog of homes under contract as of Dec. 31, 2023, decreased 11% to 13,965 homes and fell 12% in value to $5.4 billion.
D.R. ...