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D.R. Horton Inc. (Symbol: DHI) is a prominent homebuilding company headquartered in Arlington, Texas, with a strong presence in 118 markets across 33 states. Renowned as 'America's Builder', D.R. Horton specializes in constructing high-quality, distinctive homes, offering a wide array of options and amenities that stand out in the residential homebuilding industry.
Founded by Donald R. Horton in 1978, the company initially established itself within the Dallas/Fort Worth metroplex. By 1987, D.R. Horton began to strategically expand its operations into the nation’s most active homebuilding markets. Today, it is recognized as a national leader in the industry, thanks to its commitment to quality, flexible home designs, and affordable pricing.
The majority of D.R. Horton’s revenue comes from building single-family detached homes, catering to a diverse range of buyers including entry-level, move-up, luxury buyers, and active adults. To enhance the homebuying experience, D.R. Horton provides comprehensive mortgage financing and title agency services through its financial services segment.
D.R. Horton's organizational structure includes six regional segments, each focused on maintaining the company's high standards and facilitating seamless operations across different markets. This broad geographical footprint allows D.R. Horton to adapt to local market conditions and consumer preferences, ensuring sustained growth and market competitiveness.
In recent years, D.R. Horton has achieved significant milestones, driven by a strategic focus on market expansion and customer satisfaction. The company continues to innovate in home design and construction techniques, further solidifying its reputation for excellence in the homebuilding sector.
For the most updated news and developments about D.R. Horton, visit our latest news section below.
Forestar Group reported its second quarter financial results for fiscal 2023, showing a net income of $26.9 million or $0.54 per diluted share, down 44% year-over-year. Pre-tax income fell 43% to $35.9 million, with consolidated revenues dropping 28% to $301.5 million from $421.6 million in the previous year. The report noted $19.4 million in pre-tax real estate impairment charges. Lots sold decreased 49% to 2,979 for the quarter. The company maintained a strong balance sheet, ending with $654.1 million in liquidity and improved net debt to total capital ratio of 25.2%. Forestar is focusing on operational efficiencies amid a challenging housing market and aims to consolidate market share.
D.R. Horton, Inc. (NYSE:DHI) reported fiscal 2023 second quarter results with net income of $942.2 million, or $2.73 per diluted share, reflecting a 32% decline year-over-year. Consolidated revenues reached $8.0 billion, with home sales revenues at $7.4 billion from 19,664 homes closed. Net sales orders fell 5% to 23,142 homes, valued at $8.6 billion. The company’s pre-tax profit margin decreased to 15.6%, down from 23.5% a year ago, primarily due to a 730 basis point drop in home sales gross margin. Noteworthy, the cancellation rate rose to 18% from 16%. D.R. Horton maintains strong liquidity with $4.4 billion available, and declared a quarterly dividend of $0.25 per share. The company anticipates revenues between $31.5 billion and $33.0 billion for fiscal 2023.
D.R. Horton, Inc. (NYSE:DHI), the largest homebuilder in the U.S., will announce its financial results for Q2 ending
Forestar Group Inc. (NYSE: FOR) will announce its financial results for Q2 ending March 31, 2023, on April 20, 2023, before market-opening. A conference call is scheduled for the same day at 5:00 p.m. ET, which will also be available via webcast. Forestar operates in 52 markets across 20 states, having delivered over 15,400 residential lots in the last year. Notably, the company is a majority-owned subsidiary of D.R. Horton, Inc. (NYSE: DHI), the largest homebuilder by volume in the U.S.
D.R. Horton, Inc. (NYSE:DHI), America’s Builder, announced a presentation to the investment community via webcast at the Barclays Industrial Select Conference on February 22, 2023, at 2:25 p.m. Eastern Time. The presentation will be accessible through the Investor Relations page of the D.R. Horton website. Listeners are advised to join at least five minutes early. A replay will be available within 24 hours and can be accessed until April 30, 2023. Founded in 1978, D.R. Horton has been the largest homebuilder in the U.S. since 2002, operating across 109 markets in 33 states. In the last year, the company closed 82,930 homes, showcasing its diverse product portfolio.
D.R. Horton reported fiscal 2023 Q1 results with net income of $958.7 million or $2.76 per diluted share, a 16% decline year-over-year. Consolidated revenues rose 3% to $7.3 billion, but home sales revenues grew just 1% to $6.7 billion, with 17,340 homes closed, a 6% decrease. Net sales orders plummeted 38% to 13,382 homes, and cancellations increased to 27%. The backlog of homes under contract fell 46% to 15,759 homes. D.R. Horton has strong liquidity of $4 billion and a low debt-to-capital ratio of 12.8%.
Forestar Group reported its fiscal 2023 first quarter results, showing net income down 49% to $20.8 million or $0.42 per diluted share, compared to $40.5 million in Q1 2022. Consolidated revenues fell 47% to $216.7 million, driven by a 50% decrease in lots sold, totaling 2,263. Despite these declines, the company reported an improved return on equity at 13.9%, up 70 basis points. Liquidity remains strong at $582.6 million. While the housing market is challenged, the company aims to enhance operational efficiencies and consolidate market share.
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