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Sep 30, 2022
D.R. Horton Q4 2022 Earnings Report
Net income per diluted share increased 26% to $4.67 and consolidated revenues increased 19% to $9.6 billion.
Key Takeaways
D.R. Horton reported a strong fourth quarter and fiscal year 2022. Net income per diluted share increased 26% to $4.67, and consolidated revenues increased 19% to $9.6 billion for the quarter. The company's homebuilding operations closed a record 83,518 homes in fiscal 2022, marking its 21st consecutive year as the largest homebuilder in the United States.
Net income per diluted share increased 26% to $4.67.
Net income attributable to D.R. Horton increased 22% to $1.6 billion.
Consolidated revenues increased 19% to $9.6 billion.
Consolidated pre-tax income increased 20% to $2.1 billion, with a pre-tax profit margin of 21.4%.
Revenue by Segment
Forward Guidance
D.R. Horton has seen a moderation in housing demand caused by significant increases in mortgage interest rates and general economic uncertainty. The company is well-positioned to navigate changing market conditions and is focused on turning inventory to maximize returns and capital efficiency.
Positive Outlook
- Supply of homes at affordable price points remains limited.
- Demographics supporting housing demand remain favorable.
- Well-positioned to navigate changing market conditions.
- Focused on turning inventory to maximize returns and capital efficiency.
- Strong balance sheet, liquidity and low leverage provide significant financial flexibility.
Challenges Ahead
- Moderation in housing demand.
- Significant increases in mortgage interest rates.
- General economic uncertainty.
- Pressures may persist for some time.
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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