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Mar 31, 2021
D.R. Horton Q2 2021 Earnings Report
D.R. Horton reported strong results driven by robust housing market conditions and effective team performance.
Key Takeaways
D.R. Horton reported a strong second quarter for fiscal year 2021, with net income per diluted share increasing by 95% to $2.53. Consolidated revenues increased by 43% to $6.4 billion, and consolidated pre-tax income rose by 90% to $1.2 billion. The company's net sales orders increased by 35% to 27,059 homes.
Net income per diluted share increased 95% to $2.53.
Consolidated revenues increased 43% to $6.4 billion.
Consolidated pre-tax income increased 90% to $1.2 billion.
Net sales orders increased 35% to 27,059 homes.
D.R. Horton
D.R. Horton
D.R. Horton Revenue by Segment
D.R. Horton Revenue by Geographic Location
Revenue by Segment
Financial Services Revenue
CapyFin.comRevenue by Geographic Location
Northwest Revenue
CapyFin.comSouthwest Revenue
CapyFin.comSouth Central Revenue
CapyFin.comSoutheast Revenue
CapyFin.comEast Revenue
CapyFin.comNorth Revenue
CapyFin.com Forward Guidance
D.R. Horton is updating its fiscal year 2021 guidance based on current market conditions and the company's results for the first six months of fiscal 2021.
Positive Outlook
- Consolidated revenues of $26.8 billion to $27.5 billion
- Homes closed between 82,500 homes and 84,500 homes
- The Company’s senior unsecured homebuilding revolving credit facility was amended to extend its maturity date to April 20, 2026.
- The capacity of the homebuilding revolving credit facility was increased to $2.19 billion with an uncommitted accordion feature that could increase the size of the facility to $3.0 billion
- The Company’s Board of Directors authorized a new $1.0 billion stock repurchase authorization replacing the Company’s previous authorization.
Challenges Ahead
- Income tax rate in a range of 22% to 23% for the third and fourth quarters of fiscal 2021
- Portions of this document may constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995.
- During March 2020, the impacts of the COVID-19 pandemic (C-19) and the related widespread reductions in economic activity across the United States began to adversely affect the Company’s business.
- Supply shortages and other risks of acquiring land, building materials and skilled labor
- The effects of governmental regulations and environmental matters on our homebuilding and land development operations