D. R. Horton (NYSE: DHI) reported Q2 EPS of $0.60, $0.01 better than the analyst estimate of $0.59. Revenue for the quarter came in at $3.16 billion versus the consensus estimate of $3.09 billion.

GUIDANCE:

D. R. Horton sees FY2017 revenue of $13.6-14 billion.

The Company is updating its fiscal 2017 guidance as follows:

• Increasing the range of consolidated revenues to $13.6 billion to $14.0 billion from $13.4 billion to $13.8 billion (versus consensus $13.84-$14.24B)
• Increasing the range of homes closed to 44,500 to 46,000 homes from 43,500 to 45,500 homes
• Homebuilding SG&A expense of 8.8% to 9.1% of homebuilding revenues compared to prior guidance of approximately 9.0%
• Increasing financial services pre-tax profit margin to approximately 35% from approximately 30%
• An income tax rate of approximately 35.5% compared to prior guidance of approximately 35.0%

The Company reaffirms its previously issued fiscal 2017 guidance for other metrics including:

• Consolidated pre-tax profit margin of 11.2% to 11.5%
• Home sales gross margin of around 20%
• Diluted share count of approximately 380 million shares
• Cash flow from operations in the range of $300 million to $500 million

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