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Compared to Estimates, D.R. Horton (DHI) Q3 Earnings: A Look at Key Metrics
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D.R. Horton (DHI - Free Report) reported $9.97 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 2.5%. EPS of $4.10 for the same period compares to $3.90 a year ago.
The reported revenue represents a surprise of +2.92% over the Zacks Consensus Estimate of $9.68 billion. With the consensus EPS estimate being $3.80, the EPS surprise was +7.89%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how D.R. Horton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Homes Closed: 24,155 versus 23,769 estimated by 19 analysts on average.
Net sales order - Homes sold: 23,001 compared to the 24,708 average estimate based on 19 analysts.
Sales order backlog - Homes in backlog: 16,792 versus the 17-analyst average estimate of 18,762.
Sales order backlog - Value: $6.55 billion versus $7.39 billion estimated by 13 analysts on average.
Net sales order - Value: $8.72 billion compared to the $9.35 billion average estimate based on 11 analysts.
Revenues- Home sales- Homebuilding: $9.23 billion versus $8.96 billion estimated by 20 analysts on average. Compared to the year-ago quarter, this number represents a +6.1% change.
Revenues- Rental: $413.70 million compared to the $388.75 million average estimate based on 19 analysts. The reported number represents a change of -38% year over year.
Revenues- Financial Services: $242.30 million compared to the $238.62 million average estimate based on 19 analysts. The reported number represents a change of +6% year over year.
Revenues- Homebuilding: $9.24 billion compared to the $8.97 billion average estimate based on 14 analysts. The reported number represents a change of +5.8% year over year.
Revenues- Land/lot sales and other- Homebuilding: $10.30 million compared to the $20.09 million average estimate based on 13 analysts. The reported number represents a change of -66.2% year over year.
Revenues- Forestar: $318.40 million versus the seven-analyst average estimate of $370.12 million. The reported number represents a year-over-year change of -13.7%.
Revenues- Eliminations and Other: -$250.20 million compared to the -$315.73 million average estimate based on four analysts. The reported number represents a change of -8.2% year over year.
Shares of D.R. Horton have returned +13% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, D.R. Horton (DHI) Q3 Earnings: A Look at Key Metrics
D.R. Horton (DHI - Free Report) reported $9.97 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 2.5%. EPS of $4.10 for the same period compares to $3.90 a year ago.
The reported revenue represents a surprise of +2.92% over the Zacks Consensus Estimate of $9.68 billion. With the consensus EPS estimate being $3.80, the EPS surprise was +7.89%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how D.R. Horton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Homes Closed: 24,155 versus 23,769 estimated by 19 analysts on average.
- Net sales order - Homes sold: 23,001 compared to the 24,708 average estimate based on 19 analysts.
- Sales order backlog - Homes in backlog: 16,792 versus the 17-analyst average estimate of 18,762.
- Sales order backlog - Value: $6.55 billion versus $7.39 billion estimated by 13 analysts on average.
- Net sales order - Value: $8.72 billion compared to the $9.35 billion average estimate based on 11 analysts.
- Revenues- Home sales- Homebuilding: $9.23 billion versus $8.96 billion estimated by 20 analysts on average. Compared to the year-ago quarter, this number represents a +6.1% change.
- Revenues- Rental: $413.70 million compared to the $388.75 million average estimate based on 19 analysts. The reported number represents a change of -38% year over year.
- Revenues- Financial Services: $242.30 million compared to the $238.62 million average estimate based on 19 analysts. The reported number represents a change of +6% year over year.
- Revenues- Homebuilding: $9.24 billion compared to the $8.97 billion average estimate based on 14 analysts. The reported number represents a change of +5.8% year over year.
- Revenues- Land/lot sales and other- Homebuilding: $10.30 million compared to the $20.09 million average estimate based on 13 analysts. The reported number represents a change of -66.2% year over year.
- Revenues- Forestar: $318.40 million versus the seven-analyst average estimate of $370.12 million. The reported number represents a year-over-year change of -13.7%.
- Revenues- Eliminations and Other: -$250.20 million compared to the -$315.73 million average estimate based on four analysts. The reported number represents a change of -8.2% year over year.
View all Key Company Metrics for D.R. Horton here>>>Shares of D.R. Horton have returned +13% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.