D.R. Horton Earnings Climb on Tax Benefit, Higher Sales
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D.R. Horton Inc., the largest U.S. homebuilder by volume, said its fiscal third-quarter earnings rose as a tax benefit was realized and sales improved.
Net income was $787.8 million, or $2.22 a share, in the three months ended June 30, up from $28.7 million, or 9 cents, a year earlier, the Fort Worth, Texas-based company said today in a statement. The results included $716.7 million from the partial reversal of deferred tax assets tied to losses during the housing crash.