Sector: Consumer Discretionary|Industry: Residential Construction|Market Cap: $45.53B|Employees: 14.8K
D.R. Horton is the largest homebuilding company in the United States, constructing and selling homes across 36 states. The company's core business is homebuilding, generating most of its revenue from the sale of single-family detached homes, with additional revenue from attached homes, land, and lots. D.R. Horton also operates in the rental market, with both single-family and multi-family rental properties, and provides financial services like mortgage financing and title insurance.
Consolidated revenues increased 2% YoY to $10.0 billion, primarily driven by a 6% increase in homebuilding revenues to $9.2 billion. Rental and Forestar revenues saw declines.
Consolidated pre-tax income increased just 1% YoY to $1.80 billion, with pre-tax margin at 18.1% compared to 18.3% in the prior year. Home sales gross margin, while up YoY, was offset by declines in other segments.
Diluted net income per common share attributable to D.R. Horton increased 5% to $4.10, driven by a slight increase in net income to $1.35 billion.