dr horton inc (DHI) Key Developments
DR Horton Inc. Presents at Barclays Select Series: Building and Building Products Symposium, Feb-26-2015
Feb 23 15
DR Horton Inc. Presents at Barclays Select Series: Building and Building Products Symposium, Feb-26-2015 . Venue: Barclays, 745 Seventh Avenue, New York, NY 10019, United States.
A Consortium of Companies Reportedly Mulls Acquisition Of Parcel From D.R. Horton
Feb 10 15
The MacNaughton Group, Kobayashi Group, LLC and BlackSand Capital LLC reportedly are seeking acquisition of 38-acre Oahu parcel from DR Horton Inc. (NYSE:DHI). Dubbed "Hoopili Gateway," the fee-simple land in Ewa had an asking price of $33 million, according to a listing with Colliers International Hawaii. In September, D.R. Horton, through its top Hawaii executives, told PBN that it was in negotiations with potential buyers of the 38 acres, but declined to name them. Officials from The MacNaughton Group, Kobayashi Group and BlackSand Capital declined comment, but separate sources close to the situation confirmed the deal to PBN. Colliers International Hawaii officials also declined comment.
D.R. Horton, Inc. Intends to Offer Senior Unsecured Notes Due 2020
Feb 4 15
D.R. Horton Inc. announced that it intends to offer and sell, subject to market and other conditions, senior unsecured notes due 2020 in an offering registered under the company's currently effective shelf registration statement. The company intends to use the net proceeds of the offering for general corporate purposes.
DR Horton Inc. Declares Quarterly Cash Dividend, Payable on February 17, 2015
Jan 26 15
DR Horton Inc. declared a quarterly cash dividend of $0.0625 per common share. The dividend is payable on February 17, 2015 to stockholders of record on February 6, 2015.
DR Horton Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Provides Earnings Outlook for Second Quarter and Full Year of 2015
Jan 26 15
DR Horton Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company's revenues were $2,253.0 million against $1,635.6 million a year ago. Income before income taxes was $220.7 million against $189.7 million a year ago. Net income was $142.5 million or $0.39 diluted per share against $123.2 million or $0.36 diluted per share a year ago. Net cash used in operating activities was $129.0 million against $7.7 million a year ago. Purchases of property and equipment were $11.3 million against $18.3 million a year ago.
For full year 2015, the company expects to generate a 20% to 30% increase in revenues with similar levels of profitability and operating margins as the company shared on its last call. Gross margin expectations for fiscal 2015 remain unchanged from what the company shared in last quarter. In fiscal 2015, the company continues to expect to close between 34,500 and 37,500 homes and generate consolidated revenues of between $9.5 billion and $10.5 billion. The company expects its financial services operating margin to range from 25% to 30%. The company is forecasting its fiscal 2015 income tax rate to be between 35% and 36%.
For second fiscal quarter of 2015, the company expects its number of homes closed to approximate a beginning backlog conversion rate of between 81% and 85%. The company anticipates its second quarter home sales gross margin will be in the range of 19.5% to 20%, subject to potential fluctuations from product mix, warranty and interest costs. The company expects its homebuilding SG&A in the second quarter to be in the range of 10.6% to 10.8% of revenues.