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Last $29.69 USD
Change Today +0.22 / 0.75%
Volume 6.6M
DHI On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

dr horton inc (DHI) Key Developments

D.R. Horton Plans to Move Headquarters to Arlington

D.R. Horton plans to relocate its corporate headquarters to a new company-owned facility to be built in north Arlington, bringing with it an expected 500 jobs. The Arlington City Council will consider approval of a development agreement that would assist D.R. Horton with its move back to the city where it began.

D.R. Horton Inc. Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended June 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015 and for the Full Year of 2016

D.R. Horton Inc. announced unaudited consolidated earnings results for third quarter and nine months ended June 30, 2015. For the quarter, the company reported revenues of $2,876.4 million, income before income taxes of $333.8 million, net income of $221.4 million or $0.60 diluted per share, compared to the revenues of $2,102.9 million, income before income taxes of $171.8 million, net income of $113.1 million or $0.32 diluted per share, for the same quarter a year ago. During the third quarter, the company generated $357 million of positive cash flow from operations. For the year to date, the company reported revenues of $7,468.0 million, income before income taxes of $784.6 million, net income of $511.8 million or $1.40 diluted per share compared to the revenues of $5,435.1 million, income before income taxes of $563.4 million, net income of $367.3 million or $1.10 diluted per share, for the same period a year ago. Net cash provided by operating activities was $188.6 million against net cash used in operating activities of $573.7 million a year ago. Purchases of property and equipment were $43.3 million against $49.9 million a year ago. For the fourth quarter of 2015, the company expects the number of homes closed to approximate a beginning backlog conversion rate in the range of 81% to 84% at an average sales price in the range of $285,000 to $290,000. The company anticipates the home sales gross margin in the fourth quarter will be consistent with the first 3 quarters of the year in the high 19s to 20%, subject to potential fluctuations from product mix, warranty and interest costs. The company expects fourth quarter homebuilding SG&A to be in the range of 8.7% to 8.9% of homebuilding revenues. The company estimates that fourth quarter financial services operating margin will be in the range of 35% to 40%. The company expects tax rate in the fourth quarter to be between 35% and 36%. For fiscal 2016, the company’s preliminary expectations for the consolidated revenues to grow by approximately 10% to 15% and for the consolidated pretax margin to be in the range of 10.5% to 11%. The company also expects to generate positive cash flows from operations of approximately $300 million to $500 million for the full fiscal year, which the company expects to use primarily toward debt maturities. The company anticipates that the tax rate for fiscal 2016 will be between 35% and 36%.

DR Horton Inc. Declares Quarterly Cash Dividend, Payable on August 18, 2015

DR Horton Inc. has declared a quarterly cash dividend of $0.0625 per common share. The dividend is payable on August 18, 2015 to stockholders of record on August 7, 2015.

DR Horton Seeks Acquisitions

DR Horton Inc. (NYSE:DHI) is seeking acquisitions. "We will always look first to our business, to invest in the business and be opportunistic there to the extent that we can generate returns there and that will include acquisitions as we continue to steadily be if that market. With over $500 million of debt maturities coming due next year, that is a higher priority for us in financial year 2016", said Bill Wheat, Executive Vice President and Chief operating Officer of DHI.

DR Horton Inc. to Report Q3, 2015 Results on Jul 28, 2015

DR Horton Inc. announced that they will report Q3, 2015 results at 10:00 AM, US Eastern Standard Time on Jul 28, 2015

 

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Industry Analysis

DHI

Industry Average

Valuation DHI Industry Range
Price/Earnings 16.0x
Price/Sales 1.1x
Price/Book 1.9x
Price/Cash Flow 15.9x
TEV/Sales 0.6x
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