D.R. Horton (DHI) had a profitable 2013 that’s helped boost the housing market and other housing stocks.
The homebuilding company reported that net income for its first fiscal quarter ended December 31, 2013 increased 86% to $123.2 million. On top of that, Chairman of the Board Donald R. Horton said that the company’s fiscal 2014 is off to a great start. D.R. Horton’s pre-tax income increased 76% to $189.7 million and its pre-tax income margin improved 290 basis points to 11.4%.
DHI stock is up 9.8% in early afternoon trading Tuesday. TOL stock and LEN stock were among other housing stocks that boomed today with shares up 3.3% and 4.2% respectively. HOV stock is up 3.1% and KBH stock received a 3.6% bump Tuesday.