D.R. Horton Inc

Latest Results (17.12.2024):

Fourth Quarter Earnings

D.R. Horton Inc. reported earnings per diluted share of $3.92 for the fourth quarter of fiscal 2024, with net income totaling $1.3 billion. This represents a decrease from the $4.45 per diluted share and $1.5 billion net income reported in the same quarter of fiscal 2023. The company's consolidated pre-tax income for the quarter was $1.7 billion, resulting in a pre-tax profit margin of 17.1%.

Revenue and Sales

In the fourth quarter of fiscal 2024, D.R. Horton Inc. achieved consolidated revenues of $10.0 billion, a 5% decrease from the $10.5 billion reported in the same quarter of the previous year. Home sales revenues for the quarter were $8.9 billion, with 23,647 homes closed. Despite the decrease in quarterly revenue, the company saw a 7% increase in home sales revenues for the fiscal year, reaching $33.9 billion on 89,690 homes closed.

Annual Financial Performance

For the fiscal year ended September 30, 2024, D.R. Horton Inc. reported a 4% increase in earnings per diluted share, reaching $14.34, with net income rising to $4.8 billion. The company's consolidated revenues for the year increased by 4% to $36.8 billion. The fiscal year also saw a consolidated pre-tax income of $6.3 billion, maintaining a pre-tax profit margin of 17.1%.

Cash Flow and Debt

D.R. Horton Inc. generated $2.2 billion in net cash from operations during fiscal 2024, compared to $4.3 billion in the previous year. The company's debt at the end of the fiscal year totaled $5.9 billion, with a debt to total capital ratio of 18.9%. The company also repurchased $1.8 billion of common stock, reducing its outstanding share count by 3%.

Dividend and Outlook

In light of its strong financial position, D.R. Horton Inc. increased its quarterly cash dividend by 33% to $0.40 per share. The company remains focused on affordable product offerings and improving construction cycle times, positioning itself well for fiscal 2025. D.R. Horton expects to generate increasing levels of consolidated operating cash flows, supported by its significant financial flexibility and low leverage.