D.R. Horton: Fiscal 4Q Earnings Snapshot
ARLINGTON, Texas (AP) _ D.R. Horton Inc. (DHI) on Tuesday reported fiscal fourth-quarter earnings of $505.3 million.
The Arlington, Texas-based company said it had net income of $1.35 per share.
The results exceeded Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The homebuilder posted revenue of $5.04 billion in the period. Its adjusted revenue was $4.98 billion, also exceeding Street forecasts. Eighteen analysts surveyed by Zacks expected $4.84 billion.
For the year, the company reported profit of $1.62 billion, or $4.29 per share. Revenue was reported as $17.46 billion.
D.R. Horton shares have risen 52% since the beginning of the year, while the Standard & Poor’s 500 index has risen 23%. The stock has increased 53% in the last 12 months.