Categories AlphaGraphs, Earnings, Retail

DR Horton tanks after Q4 results miss market expectations

DR Horton Inc. (DHI) missed market expectations on both revenue and earnings for the fourth quarter of 2018. The stock was down 4% in premarket hours on Thursday.

D.R. Horton fourth quarter 2018 Earnings Infographic
D.R. Horton Q4 2018 Earnings Infographic

Revenues grew to $4.50 billion from $4.15 billion in the same period last year, but missed analysts’ estimates of $4.59 billion. Net income attributable to DR Horton increased 49% year-over-year to $466.1 million, or $1.22 per share, but came in shy of the $1.23 per share projection.

Homebuilding revenue increased 8% to $4.4 billion, while homes closed in the quarter increased 11%. Net sales orders in the quarter rose 11% while the value of net sales orders grew 10%.

Homebuilding, CalAtlantic merger boost Lennar’s Q3 results

Homes in inventory at September 30, 2018 increased 13% to 29,700 homes. The company’s land and lot portfolio comprised 289,000 lots, of which 43% were owned and 57% were controlled through option contracts.

During the fourth quarter of 2018, DR Horton paid cash dividends of $47.1 million. Subsequent to year-end, the company declared a quarterly cash dividend of $0.15 per common share, an increase of 20% from its most recent dividend. This dividend is payable on December 10, 2018 to shareholders of record on November 26, 2018.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “DR Horton tanks after Q4 results miss market expectations

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top