DR Horton (NYSE: DHI) reported fourth-quarter 2020 financial results before the regular trading hours on Tuesday. The home construction company reported Q4 revenue of $6.4 billion, up 27% year-over-year and higher than the Wall Street projection. Meanwhile, net income of $2.24 per share was much better than what analysts had anticipated.
DHI shares rose 3.4% immediately following the announcement. The stock has gained 25% since the beginning of this year.
Chairman Donald R. Horton said in a statement, “Our experienced operators across the country adjusted quickly to changing market conditions, resulting in net sales order increases in excess of 50% in both May and June as compared to the same months in the prior year.”
