logo
  Join        Login             Stock Quote

D.R. Horton (DHI) Q4 Earnings Jump, Double-Digit Rise In Closings, Backlog

 November 12, 2012 07:41 AM
 


(By Balaseshan) D.R. Horton Inc. (NYSE: DHI) delivered better-than-expected quarterly earnings with double-digit rise in closings and backlog, and the homebuilder expects to increased profitability in fiscal 2013.

Earnings increased to $100.1 million or $0.30 per share for the fourth quarter from $35.7 million or $0.11 per share in the year-ago quarter.

Revenue jumped 21 percent to $1.3 billion.

Analysts, on average, polled by Thomson Reuters had expected earnings of $0.28 per share on revenue of $1.35 billion for the fourth quarter.

In the quarter, homes closed rose 12 percent to 5,575 and net sales orders advanced 24 percent. Value of net sales orders increased 35 percent to $1.3 billion.

[Related -Will The Olympics Bring Casinos To Japan?]

As at September 30, 2012, D.R. Horton's sales order backlog of homes under contract jumped 49 percent to 7,240 homes.

The company has declared a quarterly cash dividend of $0.0375 per share. The dividend is payable on December 17 to stockholders of record on December 3.

"We have continued to see strong sales demand through October and into November. With 13,000 homes in inventory and 60,000 finished lots controlled, we have the home and lot position to continue to grow our market share and meet increasing customer demand. We look forward to continued improvement in our operating metrics and increased profitability in fiscal 2013," said Donald Horton, Chairman of the Board.

DHI shares, which have been trading in the range of $10.75 to $22.79 in the past 52 weeks, closed Friday's regular trading at $20.60.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageIntel Corporation (INTC) Q1 Earnings Preview: A Business in Transition

Intel Corporation (NASDAQ:INTC) plans to post its first quarter earnings results promptly after the market read on...

article imageFord Motor Company (F): A long Road to Deutsche Bank’s $19 Target

Ford Motor Company (NYSE:F) is going the right way on a one way street where most everybody else is driving read on...

article imageCitigroup Inc (C) Q1 Earnings Preview: Too Many Parts Heading South

Citigroup Inc (NYSE:C) will issue its first quarter results via press release at approximately 8 a.m. (ET) read on...

article imageFacebook Inc (FB): You Might Not Like It Today, But You’ll Like It Tomorrow

Do you honestly want to invest in stocks right now? It sure looks like the bull market is at least on read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Homebuilders Surprise To The Downside
More Articles on: Construction



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.