D.R. Horton Inc. (NYSE: DHI) reported its financial results for the quarter ended March 31, 2020 today.
D.R. Horton posted a 37% jump in earnings helped by higher homebuilding revenue. The company experienced the impact of the COVID-19 pandemic on its operations and housing demand in late March and April. The results were affected by the changes in economic conditions that negatively impacted the housing, lot development, and financial services markets.
The demand for the company’s homes across all of its operating markets was impacted by the COVID-19 pandemic and the related widespread reductions in economic activity across the US. Month-to-date in April 2020, the company’s net sales orders are about 11% lower than last year.
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