2024-04-18 06:33:18 ET
- D. R. Horton press release ( NYSE: DHI ): Q2 GAAP EPS of $3.52 beats by $0.47 .
- Revenue of $9.11B (+14.3% Y/Y) beats by $880M .
- Homes closed increased 15% to 22,548 homes and 14% in value to $8.5 billion.
- Net sales orders increased 14% to 26,456 homes and 17% in value to $10.1 billion.
- Rental operations pre-tax income of $33.3 million on $371.3 million of revenues from sales of 1,109 single-family rental homes and 424 multi-family rental units.
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Guidance ...
Based on current market conditions and the company’s results for the first half of the year, D.R. Horton is updating its fiscal 2024 guidance as follows:
- Consolidated revenues of approximately $36.7 billion to $37.7 billion vs. $36.75B consensus.
- Homes closed by homebuilding operations of 89,000 homes to 91,000 homes.
- Share repurchases of approximately $1.6 billion.
- Income tax rate of approximately 23.5% to 24.0%.
The Company reiterates its fiscal 2024 guidance for cash flow provided by homebuilding operations of approximately $3.0 billion.
The Company plans to also provide guidance for its third quarter of fiscal 2024 on its conference call today.
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D. R. Horton beats top-line and bottom-line estimates; updates FY24 outlook