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Tuesday, November 12, 2019

DR Horton (DHI) reported earnings on Tue 12 Nov 19 (b/o)

** charts before earnings **

** charts after earnings **

D.R. Horton beats by $0.10, beats on revs; Q4 net sales orders up 14%; guides FY20 revs midpoint above consensus; raises quarterly dividend 17%

  • Reports Q4 (Sep) earnings of $1.35 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of $1.25; revenues rose 11.7% year/year to $5.04 bln vs the $4.86 bln S&P Capital IQ Consensus.
  • Q4 Homes closed increased 9% to 16,024 homes and 10% in value to $4.8 bln. Q4 Net sales orders increased 14% to 13,130 homes and 16% in value to $4.0 bln.
  • Co issues in-line guidance for FY20, sees FY20 revs of $18.5-19.0 bln vs. $18.55 bln S&P Capital IQ Consensus. FY20 Guidance details: Homes closed between 60,000 homes and 61,000 homes. Income tax rate of approximately 25%. Cash flow from homebuilding operations in excess of $1.0 bln.
  • Subsequent to year-end, the Company declared a quarterly cash dividend of $0.175 per common share, an increase of 17% compared to its most recent dividend paid. The dividend is payable on December 11, 2019 to stockholders of record on November 27, 2019.
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