(MENAFN- Baystreet) Cisco Reveals Hypershield
Musk Apologies for“Incorrectly Low” Severance Package
Alaska Airlines Airborne on Q2 Numbers
Callitidas Flat on Data Release
These Are the Most Actively-Traded Stocks Previous Articles Subscribe to Get Small Cap News & Alerts Baystreet Staff - Thursday, April 18, 2024
D.R. Horton Stock Rises 3% On Earnings Beat
Shares of D.R. Horton (DHI) are up 3% after the largest U.S. home builder reported first quarter financial results that beat Wall Street forecasts and raised its forward guidance.
The Arlington, Texas-based company reported earnings per share (EPS) of $3.52 U.S. on revenue of $9.1 billion U.S.
That was better than earnings of $3.07 U.S. a share on revenue of $8.15 billion U.S. that was expected among analysts who track the company's progress.
The number of new homes ordered during Q1 rose 14.3% to 26,456 while the value of new orders jumped 17.4% to $10.1 billion U.S., said the company.
Those numbers also beat the consensus outlook for new home orders of 26,353 and the value of new orders of $9.88 billion U.S.
The average price for a new home ordered by the company was $381,766 U.S., up 4.8% from a year earlier.
Along with the strong Q1 results, D.R. Horton raised its forward guidance, saying it now expects fiscal 2024 revenue of $36.7 billion U.S. to $37.7 billion U.S., up from $36 billion U.S. to $37.3 billion U.S. previously.
The strong earnings and share price gains are welcome news at D.R. Horton.
The company's stock had declined 10% in April as Treasury yields, and by extension mortgage rates, have risen, putting new home purchases out of reach for many people.
Prior to today (April 18), D.R. Hortons' stock had declined 3% on the year to trade at $145.74 U.S. per share.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN18042024000212011056ID1108111285
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.