Loading...
•
Sep 30, 2021
D.R. Horton Q4 2021 Earnings Report
Net income per diluted share increased 65% to $3.70, and consolidated revenues increased 27% to $8.1 billion.
Key Takeaways
D.R. Horton reported a strong fourth quarter and fiscal year 2021, with net income per diluted share increasing 65% to $3.70 and consolidated revenues increasing 27% to $8.1 billion for the quarter. For the year, consolidated pre-tax income increased 80% to $5.4 billion on a 37% increase in revenues. The company closed a record 81,965 homes in fiscal 2021, marking its 20th consecutive year as the largest homebuilder in the United States.
Net income per diluted share increased 65% to $3.70 compared to the same quarter of fiscal 2020.
Net income attributable to D.R. Horton increased 62% to $1.3 billion compared to the same quarter of fiscal 2020.
Homebuilding revenue increased 24% to $7.6 billion from $6.2 billion in the same quarter of fiscal 2020.
Net sales orders decreased 33% to 15,949 homes and 17% in value to $6.0 billion compared to the same quarter of fiscal 2020.
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 provided initial guidance for fiscal year 2022, including consolidated revenues of $32.5 billion to $33.5 billion, homes closed between 90,000 and 92,000, and an income tax rate of approximately 24%.
Positive Outlook
- Consolidated revenues of $32.5 billion to $33.5 billion
- Homes closed between 90,000 homes and 92,000 homes
- Income tax rate of approximately 24%
- Strong positioning to produce double-digit volume growth in fiscal 2022
- Maximizing returns and capital efficiency in each of our communities while increasing our market share
Challenges Ahead
- Significant disruptions in our supply chain
- Shortages and delivery delays in certain building materials
- Tightness in the labor market
- Restricting our home sales pace by selling homes later in the construction cycle
- Restricting the pace of our sales orders during our first fiscal quarter