DR Horton: Q1 EPS up 2%, but stock slumps

(CercleFinance.com) - Homebuilder DR Horton has reported a 2% increase in EPS to $2.
82 for Q1 2023-24, with a pre-tax profit margin of 16.1% on revenues that are up 6% to $7.7bn. NB: cp $143, -9.2%.

Although inflation and mortgage interest rates remain high, our net orders increased by 35% year-on-year, as the supply of affordable homes remains limited and demographics remain favorable, the group points out.

In light of current market conditions and results for the past quarter, DR Horton says it has updated its guidance for the current year, now forecasting revenues of around $36bn-$37.3bn.


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