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Compared to Estimates, D.R. Horton (DHI) Q2 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, D.R. Horton (DHI - Free Report) reported revenue of $9.11 billion, up 14.2% over the same period last year. EPS came in at $3.52, compared to $2.73 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.27 billion, representing a surprise of +10.19%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $3.08.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how D.R. Horton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Homes Closed: 22,548 compared to the 19,607 average estimate based on 18 analysts.
Net sales order - Homes sold: 26,456 compared to the 25,860 average estimate based on 18 analysts.
Sales order backlog - Homes in backlog: 17,873 versus the 16-analyst average estimate of 19,454.
Sales order backlog - Value: $7.04 billion compared to the $7.57 billion average estimate based on 14 analysts.
Net sales order - Value: $10.06 billion compared to the $9.54 billion average estimate based on 10 analysts.
Revenues- Home sales- Homebuilding: $8.47 billion versus $7.67 billion estimated by 19 analysts on average.
Revenues- Rental: $371.30 million versus $320.76 million estimated by 18 analysts on average. Compared to the year-ago quarter, this number represents a +65.7% change.
Revenues- Financial Services: $225.60 million versus the 18-analyst average estimate of $212.19 million. The reported number represents a year-over-year change of +4.3%.
Revenues- Homebuilding: $8.47 billion versus $7.68 billion estimated by 13 analysts on average. Compared to the year-ago quarter, this number represents a +13.4% change.
Revenues- Land/lot sales and other- Homebuilding: $6.90 million versus $21.76 million estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a -65.3% change.
Revenues- Forestar: $333.80 million versus the six-analyst average estimate of $340.66 million. The reported number represents a year-over-year change of +10.7%.
Revenues- Eliminations and Other: -$297.10 million versus the three-analyst average estimate of -$275.58 million. The reported number represents a year-over-year change of +24.5%.
Shares of D.R. Horton have returned -8.1% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, D.R. Horton (DHI) Q2 Earnings: A Look at Key Metrics
For the quarter ended March 2024, D.R. Horton (DHI - Free Report) reported revenue of $9.11 billion, up 14.2% over the same period last year. EPS came in at $3.52, compared to $2.73 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.27 billion, representing a surprise of +10.19%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $3.08.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how D.R. Horton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Homes Closed: 22,548 compared to the 19,607 average estimate based on 18 analysts.
- Net sales order - Homes sold: 26,456 compared to the 25,860 average estimate based on 18 analysts.
- Sales order backlog - Homes in backlog: 17,873 versus the 16-analyst average estimate of 19,454.
- Sales order backlog - Value: $7.04 billion compared to the $7.57 billion average estimate based on 14 analysts.
- Net sales order - Value: $10.06 billion compared to the $9.54 billion average estimate based on 10 analysts.
- Revenues- Home sales- Homebuilding: $8.47 billion versus $7.67 billion estimated by 19 analysts on average.
- Revenues- Rental: $371.30 million versus $320.76 million estimated by 18 analysts on average. Compared to the year-ago quarter, this number represents a +65.7% change.
- Revenues- Financial Services: $225.60 million versus the 18-analyst average estimate of $212.19 million. The reported number represents a year-over-year change of +4.3%.
- Revenues- Homebuilding: $8.47 billion versus $7.68 billion estimated by 13 analysts on average. Compared to the year-ago quarter, this number represents a +13.4% change.
- Revenues- Land/lot sales and other- Homebuilding: $6.90 million versus $21.76 million estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a -65.3% change.
- Revenues- Forestar: $333.80 million versus the six-analyst average estimate of $340.66 million. The reported number represents a year-over-year change of +10.7%.
- Revenues- Eliminations and Other: -$297.10 million versus the three-analyst average estimate of -$275.58 million. The reported number represents a year-over-year change of +24.5%.
View all Key Company Metrics for D.R. Horton here>>>Shares of D.R. Horton have returned -8.1% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.