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D.R. Horton edges higher after profit beat, margin expansion

Published 07/26/2017, 07:41 AM
© Reuters.  D.R. Horton edges higher after profit beat, margin expansion
DHI
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FOR
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  • FQ3 net income of $289M or $0.76 per share vs. $249.8M and $0.66 one year ago.
  • Pretax profit margin up 10 basis points to 11.8%.
  • Home closings up 16% in homes to 12,497 and 17% in value to $3.7B.
  • Net sales orders up 11% in homes to 13,040 and 13% in value to $3.9B.
  • Backlogs up 3% in homes to 15,161 and 6% in value to $4.6B.
  • 1.85M shares bought back during quarter for $60.6M. Another $200M has been authorized for buybacks.
  • Previously: D. R. Horton beats by $0.01, misses on revenue (July 26)
  • DHI +0.7% premarket
  • Conference call at 8:30 ET, at which there may be discussion of the pending $560M Forestar Group (NYSE:FOR) acquisition.
  • Now read: Why Real Estate Investors Should Not Fret The Slip In Builder Mood


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