D. R. Horton (DHI) Tops Q2 EPS by 2c, Says Spring Off to Strong Start
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Revenue Growth %: +2.0%
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General and administrative expense: 56.4M
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D. R. Horton (NYSE: DHI) reported Q2 EPS of $0.40, $0.02 better than the analyst estimate of $0.38. Revenue for the quarter came in at $2.34 billion versus the consensus estimate of $2.2 billion.
Homes closed increased 38% in value to $2.3 billion and 33% in homes to 8,243
onald R. Horton, Chairman of the Board, said, “The spring selling season at D.R. Horton is off to a strong start. In the second quarter, the value of our net sales orders, home sales revenue and sales order backlog increased year-over-year by 33%, 38% and 27%, respectively. Our sales increased by double-digit percentages in all three of our brands, reflecting strong performance in our core D.R. Horton communities and the expansion of our luxury brand, Emerald Homes, and our entry-level brand, Express Homes. Our increasingly diverse product offerings are enabling us to expand our industry-leading market share.
“We also delivered another solid quarter of profitability, highlighted by $230.1 million of pre-tax income, on $2.4 billion of revenues. With 12,177 homes in backlog at March 31, 2015 and a robust community count, finished lot supply and inventory of homes available for sale, we are well-positioned for the second half of the fiscal year. We remain intently focused on growing our revenues and profits at a double-digit pace, while generating improved returns and cash flows."
For earnings history and earnings-related data on D. R. Horton (DHI) click here.
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