D.R. Horton Q1 2022 Earnings Report
Key Takeaways
D.R. Horton's first quarter fiscal 2022 results showed strong growth with net income per diluted share increasing by 48% to $3.17 and net income attributable to D.R. Horton increasing by 44% to $1.1 billion. Consolidated revenues increased by 19% to $7.1 billion, and the pre-tax profit margin improved to 21.2%.
Net income per diluted share increased 48% to $3.17.
Net income attributable to D.R. Horton increased 44% to $1.1 billion.
Consolidated revenues increased 19% to $7.1 billion.
Consolidated pre-tax income increased 45% to $1.5 billion.
D.R. Horton
D.R. Horton
D.R. Horton Revenue by Segment
D.R. Horton Revenue by Geographic Location
Forward Guidance
D.R. Horton is updating its fiscal 2022 guidance for consolidated revenues to a range of $34.5 billion to $35.5 billion. The Company reaffirms its previously issued fiscal 2022 guidance for other metrics including homes closed between 90,000 homes and 92,000 homes, income tax rate of approximately 24%, and outstanding share count at the end of fiscal 2022 approximately 2% lower than at the end of fiscal 2021.
Positive Outlook
- Company is well-positioned to deliver double-digit volume growth in fiscal 2022
- Strong balance sheet
- Significant financial flexibility
- Focus on maximizing returns and improving capital efficiency
- Disciplined approach to investing capital
Challenges Ahead
- Cyclical nature of the homebuilding industry
- Changes in economic, real estate or other conditions
- Constriction of the credit and public capital markets
- Reductions in the availability of mortgage financing
- Risks associated with land, lot and rental inventory
Revenue & Expenses
Visualization of income flow from segment revenue to net income