D.R. Horton Inc. (DHI - Free Report) is one of the leading national homebuilders. The company offers a diversified line of homes across various price points through its multi-brand platform. While its Express brand caters to entry-level buyers looking for affordability, its high-end brand, Emerald, targets luxury buyers. Moreover, the company enjoys one of the broadest geographic diversities in the industry.
D.R. Horton expects to deliver strong performances on the back of its robust sales trends, solid community count, strong backlog position and well-stocked inventory of land, lots and homes. However, gross margin pressures remain.
Investors should note the recent earnings estimate for DHI has moved up by 0.4% in the last 60 days for the current year. Also, DHI posted positive earnings surprises in two of the past four quarters, with an average surprise of 6.27%.
Currently, DHI has a Zacks Rank #2 (Buy), but that could definitely change following D.R. Horton’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: DHI reported second quarter earnings of 60 cents per share, beating our consensus estimate of 59 cents.
D.R. Horton, Inc. Price and EPS Surprise
Revenues: DHI reported total revenue (homebuilding and financial services) of $3.25 billion, surpassing our consensus estimate of $3.09 billion.
Key Stats to Note: New home orders increased 17% in value and 14% in homes in the quarter.
Check back later for our full write up on this DHI earnings report later!
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