DR Horton: falls after quarterly results
(CercleFinance.com) - DR Horton is down nearly 11% after the homebuilder reported EPS down 12% to $3.
92 for the three months of its 2023-24 fiscal year, on revenues down 5% to $10 billion.
Our sales pace was in line with the seasonal norm from the third to the fourth quarter, but below our expectations", he acknowledges, estimating that volatility and uncertainty over rates are making some buyers wait and see in the short term.
For the year as a whole, DR Horton saw its EPS rise by 4% to $14.34 on revenues also up by 4% to $36.8 billion, which it expects to reach between $36 and $37.5 billion for the year 2024-25.
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