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.
![D.R. Horton fourth quarter 2018 Earnings Infographic D.R. Horton fourth quarter 2018 Earnings Infographic](https://cdn.news.alphastreet.com/wp-content/uploads/2018/11/D.R.-Horton-Q4-2018-Earnings-Infographic-649x1024.png)
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
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%