DR Horton Inc. (DHI) missed market expectations on both revenue and earnings for the fourth quarter of 2018. The stock was down 4% in premarket hours on Thursday.

Revenues grew to $4.50 billion from $4.15 billion in the same period last year, but missed analysts’ estimates of $4.59 billion. Net income attributable to DR Horton increased 49% year-over-year to $466.1 million, or $1.22 per share, but came in shy of the $1.23 per share projection.
Homebuilding revenue increased 8% to $4.4 billion, while homes closed in the quarter increased 11%. Net sales orders in the quarter rose 11% while the value of net sales orders grew 10%.
Homes in inventory at September 30, 2018 increased 13% to 29,700 homes. The company’s land and lot portfolio comprised 289,000 lots, of which 43% were owned and 57% were controlled through option contracts.
During the fourth quarter of 2018, DR Horton paid cash dividends of $47.1 million. Subsequent to year-end, the company declared a quarterly cash dividend of $0.15 per common share, an increase of 20% from its most recent dividend. This dividend is payable on December 10, 2018 to shareholders of record on November 26, 2018.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
AMAT Earnings: Applied Materials Q1 2025 adj. profit rises on higher sales
Applied Materials, Inc. (NASDAQ: AMAT), a leading supplier of equipment and software for manufacturing semiconductor chips and flat panel displays, Thursday reported an increase in sales and adjusted earnings for
Cisco Systems (CSCO) bets on strong AI demand to drive growth
After starting the fiscal year on a weak note, Cisco Systems Inc. (NASDAQ: CSCO) has regained momentum, reporting higher second-quarter revenue and profit that beat analysts’ estimates. The company is
What to expect when Hasbro (HAS) reports its fourth quarter 2024 earnings results
Shares of Hasbro, Inc. (NASDAQ: HAS) stayed green on Thursday. The stock has gained 7% year-to-date. The toymaker is scheduled to report its fourth quarter 2024 earnings results on Thursday,