DR Horton shares jump as Q1 financial results come in ahead of estimates By Investing.com
Investing.com — DR Horton Inc (NYSE: ) shares of DR Horton Inc (NYSE: ) rose 6% in premarket trading on Tuesday after the homebuilder reported better-than-expected results for Q1 2025 fiscal year.
The company posted Q1 earnings per share (EPS) of $2.61, beating analyst expectations of $2.38.
Revenue fell 1% year over year to $7.61 billion, but still topped consensus estimates of $7.12 billion.
DR Horton’s net sales orders came in at $6.65 billion for the quarter, down 2% year-over-year, down from an average of $6.97 billion.
The number of foreclosures came in at 19,059, down 1.5% from last year but higher than the 17,802 expected.
Backlogs fell 21% year over year to $4.30 billion, below consensus of $5.03 billion.
“Although the supply of new and existing homes has risen from historically low levels, the supply of affordable housing remains generally limited, and the demographics supporting housing demand remain positive,” said David Auld, Executive Chairman of DR Horton.
“Despite ongoing affordability challenges and competitive market conditions, benefits such as buy-to-let mortgages have helped address affordability and spur demand. Additionally, given our focus on offering affordable products, we have continued to launch and sell many of our homes with smaller floor plans to meet the home buyer’s needs. “
For fiscal 2025, DR Horton projects revenue between $36 billion and $37.5 billion, compared to the consensus projection of $37.087 billion.
The company also expects to close 90,000 to 92,000 homes through its homebuilding operations, achieve higher consolidated cash flow from operations compared to fiscal 2024, and pay about $500 million in dividends.
