D.R. Horton (NYSE:DHI) earnings for the home construction company’s fiscal first quarter of 2020 have DHI stock up on Monday. That’s thanks to its diluted earnings per share of $1.16. This blows past Wall Street’s estimate of 96 cents for the quarter. Revenue of $4.02 billion is also well above analysts’ estimates of $3.77 billion.
Here are some additional highlights from the most recent D.R. Horton earnings report.
- Diluted per-share earnings are up 52.63% from 76 cents in the fiscal first quarter of 2019.
- Revenue comes in 14.20% higher than the $3.52 billion from the same time last year.
- The D.R. Horton earnings report also has net income coming in at $432.50 million.
- That’s a 50.86% boost over the company’s net income of $286.70 million from the same period of the year prior.
Donald Horton, Chairman of D.R. Horton, says this about the DHI stock earnings report.
“Our consolidated pre-tax income in the first quarter increased 39% to $523.3 million on a 14% increase in revenues to $4.0 billion. Our pre-tax profit margin improved 230 basis points to 13.0%, and the value of our net sales orders increased 22%. These results reflect our experienced operational teams, industry-leading market share, broad geographic footprint and diverse product offerings across multiple brands.”
The D.R. Horton earnings report also includes a guidance update. This has the company expecting revenue of $$18.50 billion to $19.10 billion for fiscal 2020. The previous outlook was for revenue ranging from $18.50 billion to $19.00 billion. For comparison, Wall Street is expecting revenue of $18.82 billion for fiscal 2020.
DHI stock was up 2.72% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.