Homebuilder DR Horton Stock Rises as Incentives Help Attract Buyers
D.R. Horton beat first-quarter profit and sales forecasts as incentives increased buyer demand.
D.R. Horton beat first-quarter profit and sales forecasts as incentives increased buyer demand.
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D.R. Horton, Inc. (NYSE:DHI) shares traded higher after the company reported first-quarter results. Sales fell 1% year-over-year to $7.61 billion, beating the consensus of $7.08 billion. EPS was $2.61, beating the consensus of $2.44. Net sales orders fell 1% Y/Y to 17,837 homes and decreased 2% in value to $6.7 billion. Homebuilding revenue declined 2% Y/Y to $7.2 billion. Homes closed in the quarter fell 1% Y/Y to 19,059 homes. Sales order backlog of homes under contract as of December 31, 2024