DHI: Home Builder DR Horton on Earnings Beat

by Karl Utermohlen | April 24, 2014 2:07 pm

DHI: Home Builder DR Horton on Earnings Beat

DR Horton (DHI[1]) released its fiscal second-quarter earnings report and results were more than favorable.

DRHortonAmericasBuilderLogo DHI: Home Builder DR Horton on Earnings Beat[2]The company’s net income rose[3] 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.

More Housing News

Endnotes:
  1. DHI: http://studio-5.financialcontent.com/investplace/quote?Symbol=DHI
  2. [Image]: http://investorplace.com/wp-content/uploads/2010/08/DRHortonAmericasBuilderLogo.jpg
  3. rose: http://www.businessweek.com/news/2014-04-24/d-dot-r-dot-horton-earnings-beat-estimates-as-homebuilder-s-sales-climb
  4. March New Home Sales Tumble 14.5%: http://investorplace.com/2014/04/march-new-home-sales-tumble-14-5/#.U1lSJ1e5J8E
  5. Existing Home Sales Hit 1-1/2 Year Low: http://investorplace.com/2014/04/existing-home-sales-hit-1-12-year-low/
  6. Z Stock: Zillow Taps Into an $11 Billion Real Estate Opportunity: http://investorplace.com/ipo-playbook/z-stock-real-estate/#.U1acJl5hOf0
  7. Can Real Estate Bounce Back This Spring?: http://investorplace.com/2014/03/real-estate-housing-market-q2/#.U1acWF5hOf0

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