D.R. Horton: Fiscal 4Q Earnings Snapshot
ARLINGTON, Texas (AP) _ D.R. Horton Inc. (DHI) on Thursday reported fiscal fourth-quarter net income of $466.1 million.
The Arlington, Texas-based company said it had net income of $1.22 per share.
The results did not meet Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The homebuilder posted revenue of $4.51 billion in the period. Its adjusted revenue was $4.49 billion, which also missed Street forecasts. Nineteen analysts surveyed by Zacks expected $4.59 billion.
For the year, the company reported profit of $1.46 billion, or $3.81 per share. Revenue was reported as $16 billion.
D.R. Horton shares have decreased 26 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has dropped 16 percent in the last 12 months.