Before the opening bell on Monday morning, D.R. Horton (DHI ) reported its first quarter results, posting higher revenues and earnings compared to last year’s Q1.
DHI's Earnings in Brief
- D.R. Horton reported first quarter revenues of $2.24 billion, up substantially from last year’s Q1 revenues of $1.63 billion.
- Net income for the quarter came in at $142.5 million, or 39 cents per share, compared to last year’s Q1 figures of $123.2 million, or 38 cents per share.
- DHI beat analysts’ estimates of 35 cents EPS on revenues of $2.18 billion.
CEO Commentary
DHI’s chairman of the board Donald R. Horton had the following comments: “Our fiscal 2015 is off to a great start, highlighted by $220.7 million of pre-tax income, on $2.3 billion of revenues. Our position as the largest and most geographically diverse homebuilder provides a strong platform for us to compete for new home sales, evidenced by year-over-year increases in the value of our net sales orders, home sales revenue and sales order backlog of 40%, 37% and 29%, respectively."
DHI Declares Dividend
D.R. Horton declared a quarterly dividend of 6.25 cents, which is payable on February 17 to all shareholders on record as of February 6.
Stock Performance
DHI stock was up $1.33, or 5.77%, in pre-market trading.
The Bottom Line
D.R. Horton (DHI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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