D. R. Horton (DHI) Tops Q1 EPS by 1c

D. R. Horton (NYSE: DHI) reported Q1 EPS of $0.42, versus the analyst estimate of $0.41. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.4 billion.

Donald R. Horton, Chairman of the Board, said, “The D.R. Horton team started the year with a strong first quarter, highlighted by $241.3 million of pre-tax income on $2.4 billion of revenues. Our pre-tax profit margin improved 40 basis points from the prior year quarter to 10.0%. The value of our net sales orders increased by 12%, our home sales revenue increased by 4% and the value of our sales order backlog increased by 16%.

"Solid performance in our three core brands is enabling us to capitalize on market opportunities and expand our industry-leading market share. With a sales backlog of 10,665 homes at the end of December, positive sales trends in January and a robust lot supply and inventory of homes available for sale, we are well-positioned for the spring selling season and fiscal 2016. We remain focused on growing our revenues and pre-tax profits at a double-digit annual pace, while generating positive cash flows and improved returns."

For earnings history and earnings-related data on D. R. Horton (DHI) click here.

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