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Jun 30, 2022
D.R. Horton Q3 2022 Earnings Report
D.R. Horton reported strong results, with EPS increasing and pre-tax income rising significantly.
Key Takeaways
D.R. Horton reported a strong third quarter in fiscal year 2022, with a 53% increase in EPS to $4.67 per diluted share. Consolidated revenues increased by 21% to $8.8 billion, and pre-tax income rose by 54% to $2.2 billion. The pre-tax profit margin improved by 540 basis points to 24.8%.
Net income per diluted share increased 53% to $4.67.
Net income attributable to D.R. Horton increased 48% to $1.6 billion.
Consolidated revenues increased 21% to $8.8 billion.
Consolidated pre-tax income increased 54% to $2.2 billion.
D.R. Horton
D.R. Horton
D.R. Horton Revenue by Segment
Revenue by Segment
Financial Services Revenue
CapyFin.com Forward Guidance
D.R. Horton is updating its fiscal 2022 guidance. Consolidated revenues are expected to be in the range of $33.8 billion to $34.6 billion. Homes closed are expected to be between 83,000 and 85,000 homes.
Positive Outlook
- Company is well-positioned to meet changing market conditions with affordable product offerings.
- Company has a strong lot supply.
- Company has strong trade and supplier relationships.
- Balance sheet strength provides financial flexibility.
- Company is managing homes in inventory to maximize returns.
Challenges Ahead
- Housing demand moderation in June due to increased mortgage interest rates.
- Elevated inflationary pressures.
- Potential persistence of these pressures for some time.
- Cyclical nature of the homebuilding industry.
- Potential constriction of credit and public capital markets.