D.R. Horton meets 4Q profit forecasts
November 9, 2017
ARLINGTON, Texas (AP) _ D.R. Horton Inc. (DHI) on Thursday reported fiscal fourth-quarter profit of $313.2 million.
On a per-share basis, the Arlington, Texas-based company said it had profit of 82 cents.
The results met Wall Street expectations. The average estimate of 20 analysts surveyed by Zacks Investment Research was also for earnings of 82 cents per share.
The homebuilder posted revenue of $4.16 billion in the period, surpassing Street forecasts. Nineteen analysts surveyed by Zacks expected $4.04 billion.
For the year, the company reported profit of $1.04 billion, or $2.74 per share. Revenue was reported as $14.09 billion.
D.R. Horton shares have climbed 66 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 16 percent. The stock has risen 64 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DHI at https://www.zacks.com/ap/DHI