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Jun 30, 2024
D.R. Horton Q3 2024 Earnings Report
D.R. Horton reported strong results driven by limited supply and favorable demographics.
Key Takeaways
D.R. Horton's third quarter fiscal 2024 saw a 5% increase in earnings per diluted share to $4.10. Consolidated revenues increased by 2% to $10.0 billion, and net income attributable to D.R. Horton increased by 1% to $1.35 billion.
Earnings per diluted share increased 5% to $4.10.
Consolidated revenues increased 2% to $10.0 billion.
Homes closed increased 5% to 24,155 homes.
Net income attributable to D.R. Horton increased 1% to $1.35 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
D.R. Horton is updating its fiscal 2024 guidance with consolidated revenues of approximately $36.8 billion to $37.2 billion and homes closed by homebuilding operations of 90,000 homes to 90,500 homes. The company reiterates its fiscal 2024 guidance for cash flow provided by homebuilding operations of approximately $3.0 billion.
Positive Outlook
- Consolidated revenues of approximately $36.8 billion to $37.2 billion.
- Homes closed by homebuilding operations of 90,000 homes to 90,500 homes.
- Cash flow provided by homebuilding operations of approximately $3.0 billion.
- Well-positioned with affordable product offerings and flexible lot supply.
- Focused on maximizing returns in each of our communities.
Challenges Ahead
- Inflation remains elevated.
- Mortgage interest rates remain elevated.
- Cyclical nature of the homebuilding industry.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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