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Jun 30, 2023
Dream Finders Homes Q2 2023 Earnings Report
Reported positive momentum with revenue growth, pre-tax income, and earnings per basic share increasing, driven by encouraging net sales and effective management of construction times and inventory turnover.
Key Takeaways
Dream Finders Homes announced strong Q2 2023 results with a 19% increase in homebuilding revenues to $943 million and a 12% increase in home closings to 1,846. Net income attributable to DFH increased by 10% to $69 million, or $0.70 per basic share. The company updated its full-year guidance to approximately 6,500 home closings.
Homebuilding revenues increased 19% to $943 million.
Home closings increased 12% to 1,846.
Net new orders increased 16% to 1,655.
Net income attributable to DFH increased 10% to $69 million, or $0.70 per basic share.
Revenue by Segment
Forward Guidance
Dream Finders Homes is updating its guidance and now expects approximately 6,500 home closings for the full year 2023 compared to a previous outlook of approximately 6,000 homes.
Positive Outlook
- Improved sales activity year-to-date
- Housing market continues to assimilate mortgage rates
- Management is able to release starts and manage the construction cycle more efficiently.
Challenges Ahead
- Deterioration of general economic conditions
- Interest rate increases
- Mortgage availability
- Governmental restrictions on land development
- Supply chain challenges
Historical Earnings Impact
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Avg. Return Before/After Earnings
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