D.R. Horton: Fiscal 3Q Earnings Snapshot
ARLINGTON, Texas (AP) _ D.R. Horton Inc. (DHI) on Tuesday reported fiscal third-quarter earnings of $474.8 million.
The Arlington, Texas-based company said it had profit of $1.26 per share.
The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The homebuilder posted revenue of $4.91 billion in the period. Its adjusted revenue was $4.88 billion, also surpassing Street forecasts. Sixteen analysts surveyed by Zacks expected $4.51 billion.
D.R. Horton shares have increased 27% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. The stock has risen slightly in the last 12 months.