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WKN: 884312 ISIN: US23331A1097 Ticker-Symbol: HO2 
S&P 500
DR HORTON INC Chart 1 Jahr
DR HORTON INC 1-Woche-Intraday-Chart
15.02.2018 | 13:45
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Stock Monitor: Beazer Homes USA Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 15, 2018 / Active-Investors.com has just released a free earnings report on D.R. Horton, Inc. (NYSE: DHI). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=DHI. D.R. Horton reported its first quarter fiscal 2018 operating and financial results on January 31, 2018. The No.1 US homebuilder outperformed top- and bottom-line expectations and provided guidance for fiscal 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is currently working on the research report for Beazer Homes USA, Inc. (NYSE: BZH), which also belongs to the Industrial Goods sector as the Company D.R. Horton. Do not miss out and become a member today for free to access this upcoming report at:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, D.R. Horton most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

For the three months ended December 31, 2017, D.R. Horton's revenue advanced 15% to $3.33 billion compared to $2.90 billion in Q1 FY17. The Company's reported numbers exceeded analysts' expectations of $3.28 billion.

During Q1 FY18, D.R. Horton's pre-tax income increased 23% to $391.2 million compared to $318.1 million in Q1 FY17. The Company's pre-tax profit margin for the reported quarter improved 70 basis points to 11.7% compared to 11.0% in the year earlier quarter, primarily driven by an increase in home sales gross margin.

For Q1 FY18, net income attributable to D.R. Horton was $189.3 million, or $0.49 per diluted share, compared to $206.9 million, or $0.55 per diluted share, in Q1 FY17. The Company's reported quarter results included a one-time non-cash charge to income tax expense of $108.7 million to re-measure the Company's net deferred tax assets, partially offset by a lower effective tax rate, both as a result of the Tax Cuts and Jobs Act enacted into law on December 22, 2017. On adjusted basis, D.R. Horton's earnings totaled $0.77 per share, beating Wall Street's estimates of $0.64 per share.

Operating Results

D.R. Horton's net sales orders jumped 16% to 10,753 homes and 17% in value to $3.2 billion in Q1 FY18 compared to 9,241 homes and $2.8 billion in Q1 FY17. The Company's cancellation rate (cancelled sales orders divided by gross sales orders) for the reported quarter was 22%, unchanged from the prior year's comparable quarter.

During Q1 FY18, D.R. Horton's homebuilding revenue grew 14% to $3.2 billion from $2.8 billion in Q1 FY17. The Company's homes closed in the reported quarter increased 15% to 10,788 homes compared to 9,404 homes closed in the prior year's corresponding quarter.

D.R. Horton's home sales gross margin in Q1 FY18 was 20.8% compared to 20.3% in Q1 FY17, primarily attributed to lower warranty, litigation and interest costs as a percentage of homebuilding revenues. Homebuilding selling, general, and administrative (SG&A) expense as a percentage of revenues in Q1 FY18 was 9.5%, unchanged from the prior year's same quarter.

D.R. Horton's homes in inventory at December 31, 2017, increased 13% to 27,800 homes compared to 24,500 homes at December 31, 2016. The Company's homebuilding land and lot portfolio at December 31, 2017 consisted of 259,000 lots, of which 49% were owned and 51% were controlled through option contracts, compared to 212,600 lots at December 31, 2016, of which 56% were owned and 44% were controlled through option contracts.

Cash Matters

During Q1 FY18, D.R. Horton issued $400 million of 2.55% senior notes due 2020 and repaid $400 million principal amount of its 3.625% senior notes at par prior to their February 2018 maturity. The Company ended the reported quarter with $558.0 million of homebuilding unrestricted cash and a homebuilding debt to total capital ratio of 25.9%.

During Q1 FY18, D.R. Horton paid cash dividends of $47.0 million to its shareholders and repurchased 500,000 shares of its common stock for $25.4 million. The Company's remaining stock repurchase authorization at December 31, 2017, was $174.6 million.


For fiscal 2018, D.R. Horton increased its consolidated pre-tax profit margin of 11.8% to 12.0% compared to prior guidance of 11.5% to 11.7%. The Company is expecting Home sales gross margin in the range of 20% to 21%, and Financial services operating margin of approximately 30%. D.R. Horton is estimating cash flow from operations of at least $700 million, an increase of $200 million from initial guidance primarily due to recent tax legislation

For fiscal 2018, D.R. Horton is projecting consolidated revenues between $15.5 billion and $16.3 billion and Homes closed between 50,500 and 52,500 homes

Stock Performance Snapshot

February 14, 2018 - At Wednesday's closing bell, D.R. Horton's stock rose 1.27%, ending the trading session at $45.42.

Volume traded for the day: 5.38 million shares, which was above the 3-month average volume of 4.51 million shares.

Stock performance in the previous sic-month period - up 23.49%; and past twelve-month period - up 50.85%

After yesterday's close, D.R. Horton's market cap was at $17.26 billion.

Price to Earnings (P/E) ratio was at 16.92.

The stock has a dividend yield of 1.10%.

The stock is part of the Industrial Goods sector, categorized under the Residential Construction industry. This sector was up 1.3% at the end of the session.


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