D.R. Horton Q4 2023 Earnings Report
Key Takeaways
D.R. Horton reported a strong fourth quarter with a 9% increase in consolidated revenues to $10.5 billion and a consolidated pre-tax income of $2.0 billion. Net sales orders increased by 39%, reflecting strong demand despite higher mortgage rates. The company's financial position remains robust, with low leverage and significant liquidity.
Net income was $1.5 billion, or $4.45 per diluted share.
Consolidated revenues increased 9% to $10.5 billion.
Net sales orders increased 39% to 18,939 homes.
The Company repurchased 3.5 million shares of common stock for $423.1 million.
Rental operations generated $217.2 million of pre-tax income on revenues of $1.4 billion.
D.R. Horton
D.R. Horton
Forward Guidance
D.R. Horton provided initial guidance for fiscal year 2024, including consolidated revenues of approximately $36.0 billion to $37.0 billion and homes closed by homebuilding operations of 86,000 homes to 89,000 homes.
Positive Outlook
- Consolidated revenues of approximately $36.0 billion to $37.0 billion
- Homes closed by homebuilding operations of 86,000 homes to 89,000 homes
- Cash flow provided by homebuilding operations of approximately $3.0 billion
- Share repurchases of approximately $1.5 billion
- Income tax rate in the range of 24.0% to 24.5%