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D.R. Horton: Q1 EPS exceed estimates

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R. Horton has published Q1 net income that is up about 50% at 431.3 million dollars, meanings EPS of 1.16 dollar, i.e. 24 cents above the consensus.

The homebuilder saw its pre-tax margin rise by 2.3 points to 13% for sales growth of 14% at four billion dollars, while new orders rose by 19% in volume, to 13,126 houses.

Management said that it still sees strong demand for, and limited supply of, affordable housing in its markets, while economic fundamentals and financial availability remain solid.

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