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.
Nvidia Corporation (NASDAQ: NVDA) Wednesday said its fourth-quarter revenues and profit increased in double-digits amid elevated demand. The results also topped the Street view, driving the stock higher during the
Nutanix (NASDAQ: NTNX) reported second quarter 2021 earnings results today. Total revenue remained flat at $346.4 million compared to the same period a year ago. GAAP net loss was $287.3
Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer