M.D.C. Holdings (MDC) Tops Q2 EPS by 4c, Beats on Revenues

M.D.C. Holdings (NYSE: MDC) reported Q2 EPS of $0.64, $0.04 better than the analyst estimate of $0.60. Revenue for the quarter came in at $668 million versus the consensus estimate of $627 million.

2017 Second Quarter Highlights and Comparisons to 2016 Second Quarter

• Net income up 26% to $33.9 million, or $0.64 per diluted share, from $26.9 million or $0.52 per diluted share*
• Home sale revenues up 13% to $647.6 million from $571.2 million
• Selling, general and administrative expenses as a percentage of home sale revenues (\"SG&A rate\") improved 40 basis points from 11.3% to 10.9%
• Dollar value of net new orders of $710.6 million versus $722.5 million
• Monthly sales absorption pace of 3.41 improved 2%
• Ending backlog dollar value up 4% to $1.68 billion from $1.61 billion
• Approved 3,342 lots for purchase in 44 communities
• Last twelve months return on equity improved 340 basis points to 9.3%

For earnings history and earnings-related data on M.D.C. Holdings (MDC) click here.

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