DR Horton (DHI) released its fiscal second-quarter earnings report and results were more than favorable.
The company’s net income rose to $131 million — or 38 cents per share — exceeding analysts’ estimates. The average of 14 analysts was for 34 cents per share.
DR Horton’s products are usually marketed at first-time buyers but the company has expanded to more move-up shoppers as the market for new homes has decreased.
“Housing market conditions remain favorable,” Chairman Donald R. Horton said. “The pace and strength of the improvement varies significantly across our local operating markets.”
DHI stock is up close to 8% Thursday.
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