DR Horton: EPS up 5% in Q3

(CercleFinance.com) - DR Horton reports net income up 1% to $1.
35 billion for its third quarter 2023-24 (ended June), or $4.10 per share (+5%), with a pre-tax profit margin of 18.1%.

The homebuilder's revenues rose 2% to $10 billion, while its net orders increased 1% in volume to 23,001 homes, for a stable value of $8.7 billion.

While inflation and mortgage interest rates remain high, the supply of affordable housing remains limited, and demographics continue to support demand," says David Auld, Executive Chairman.

While lowering its annual revenue target range to $36.8-37.2 billion (from $36.7-37.7 billion), DR Horton announces a new share buyback authorization, replacing the previous one, for $4 billion.

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