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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.
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.
D.R. Horton, Inc. (NYSE:DHI) has announced the acquisition of Riggins Custom Homes, a leading builder in Northwest Arkansas. The deal, valued at approximately $107 million in cash, includes 3,000 lots, 170 homes in inventory, and 173 homes in sales order backlog. Riggins generated $48 million in revenue over the past year, closing 153 homes with an average sales price of $313,600. This acquisition aims to enhance D.R. Horton's market position in the region while leveraging Riggins' local expertise.
Forestar Group Inc. (NYSE: FOR) will announce its financial results for the first quarter ending December 31, 2022, on January 24, 2023, before market opening. A conference call is scheduled for 5:00 p.m. ET the same day. Forestar operates in 53 markets across 21 states and delivered over 17,600 residential lots in its fiscal year ending September 30, 2022. The company is a majority-owned subsidiary of D.R. Horton, Inc. (NYSE: DHI), the largest homebuilder in the U.S. since 2002.
D.R. Horton, Inc. (NYSE:DHI), the largest homebuilder in the U.S., will report its financial results for the first quarter ending December 31, 2022 on January 24, 2023, prior to market open. A conference call will be held at 8:30 a.m. ET, accessible via dial-in and webcast. Participants can access the replay after 12:30 p.m. ET on the same day until January 31, 2023. D.R. Horton operates across 106 markets in 33 states and closed 83,518 homes in the last fiscal year.
Forestar Group Inc. reported strong financial results for the fourth quarter and fiscal year ended September 30, 2022. Net income for Q4 rose 15% to $50.8 million ($1.02/share), while fiscal year net income increased 62% to $178.8 million ($3.59/share). Total revenues for FY 2022 reached $1.5 billion, reflecting a 15% year-over-year growth. Despite a 20% drop in lots sold during Q4, total lots sold for the year increased by 11%. Forestar maintains a robust liquidity position with over $620 million available, positioning it well amidst challenging market conditions.
D.R. Horton reported its Fiscal 2022 fourth quarter results with a net income per diluted share of $4.67, up 26% year-over-year, contributing to a total net income of $1.6 billion. Consolidated revenues reached $9.6 billion, a 19% increase from the prior year. For the full year, net income per diluted share increased 45% to $16.51, and consolidated revenues were $33.5 billion, up 21%. However, net sales orders fell by 15% in Q4, indicating a potential shift in market demand due to rising mortgage rates.
Forestar Group Inc. (NYSE: FOR) announces the promotion of Mark Walker to Chief Operating Officer effective October 1, 2022. Mr. Walker, who joined the company in 2019, has overseen significant operations, accounting for 52% of lots sold in the last twelve months. His previous experience includes a Vice President role at D.R. Horton (NYSE: DHI). This promotion aims to strengthen leadership and enhance market share.
Forestar, based in Arlington, Texas, operates in 52 markets and delivered over 18,500 residential lots in the year ending June 30, 2022.
Forestar Group Inc. (NYSE: FOR) will release its financial results for the fourth quarter and fiscal year ended September 30, 2022, on November 9, 2022, after market close. A conference call will be held at 5:00 p.m. ET that day, with a dial-in number of 888-506-0062 and access code 446616. The call will also be webcast via the Company's investor site. Forestar operates in 52 markets across 22 states and delivered over 18,500 residential lots in the twelve months ending June 30, 2022. The company is a majority-owned subsidiary of D.R. Horton, Inc. (NYSE: DHI).
D.R. Horton, Inc. (NYSE:DHI), America's largest homebuilder, will announce its financial results for Q4 and fiscal year ended
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