Categories Earnings, Other Industries
Earnings Summary: Highlights of DR Horton’s Q4 2023 financial results
Homebuilder D.R. Horton, Inc. (NYSE: DHI) on Tuesday reported lower net income for the fourth quarter of 2023, despite an increase in revenues.
- Net income for the September quarter was $1.5 billion or $4.45 per share, compared to $1.63 billion or $4.67 per share in the prior-year period
- Consolidated revenues increased 9% year-over-year to $10.5 billion during the three-month period
- Consolidated pre-tax income was $2.0 billion in Q4; pre-tax profit margin came in at 19.2%
- The company reported Q4 home sales revenues of $8.8 billion, on 22,928 homes closed
- Net sales orders increased 39% to 18,939 homes and 34% in value to $7.3 billion
- In FY23, net cash provided by operations was $4.3 billion, compared to $561.8 million in fiscal 2022
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