WASHINGTON (dpa-AFX) - D R Horton Inc. (DHI) announced a profit for first quarter that Dropped, from last year but beat the Street estimates.
The company's earnings totaled $594.8 million, or $2.03 per share. This compares with $844.9 million, or $2.61 per share, last year.
Analysts on average had expected the company to earn $1.92 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 9.5% to $6.886 billion from $7.613 billion last year.
D R Horton Inc. earnings at a glance (GAAP) :
-Earnings: $594.8 Mln. vs. $844.9 Mln. last year. -EPS: $2.03 vs. $2.61 last year. -Revenue: $6.886 Bln vs. $7.613 Bln last year.
D R Horton will pay a quarterly cash dividend of $0.45 per share on February 12 to stockholders of record as of February 5.
Looking ahead, for the full year, the company has reaffirmed its revenue guidance of $33.5 billion to $35 billion, in line with analysts' forecast of $34.26 billion.
D R Horton still expects to repurchase around $2.5 billion of shares in fiscal 2026. The company continues to project to pay dividend payments of $500 million for the year.
DHI was up by 2.16% at $159.23 in the pre-market trade on the New York Stock Exchange.
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