D. R. Horton (DHI) Tops Q3 EPS by 10c

D. R. Horton (NYSE: DHI) reported Q3 EPS of $0.60, $0.10 better than the analyst estimate of $0.50. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.7 billion.

Highlights:

• Net sales orders increased 25% in value to $3.0 billion and 22% in homes to 10,398
• Homes closed increased 37% in value to $2.9 billion and 28% in homes to 9,856
• Sales order backlog increased 15% in value to $3.7 billion and 12% in homes to 12,761
• Pre-tax income increased 94% to $333.8 million
• Pre-tax profit margin improved 330 basis points to 11.3%
• Net income increased 96% to $221.4 million, or $0.60 per diluted share
• Cash flow from operations for the nine months ended June 30, 2015 improved $762.3 million to $188.6 million

“This quarter we made significant progress toward our goal of producing sustainable positive cash flow from operations by generating $357.4 million of cash. For the nine months ended June, we generated $188.6 million of cash flow from operations, an improvement of $762.3 million from the same period in the prior year.

“Solid performance in our three core brands is enabling us to capitalize on market opportunities and continue to expand our industry-leading market share. We are well-positioned to finish our fiscal year strong and have an even stronger fiscal 2016 with 12,761 homes in backlog, a robust community count, finished lot supply and inventory of homes available for sale and our diversified D.R. Horton, Emerald Homes and Express Homes product offerings. We remain intently focused on growing our revenues and profits at a double-digit pace, while generating improved returns and continued positive cash flows.”

For earnings history and earnings-related data on D. R. Horton (DHI) click here.

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