D.R. Horton Surpasses Sales Expectations With 9% Surge, Outlines Optimistic 2024 Outlook
Portfolio Pulse from Akanksha Bakshi
D.R. Horton, Inc (NYSE:DHI) reported a 9% YoY sales growth in Q4 FY23, surpassing expectations. Net sales orders increased 39% YoY, while home sales revenues decreased by 6.4%. The company's EPS was $4.45, beating the consensus of $3.93. DHI also declared a 20% increase in its quarterly cash dividend. For FY24, DHI expects revenues between $36 billion and $37 billion, and repurchases of approximately $1.5 billion.
November 07, 2023 | 4:15 pm
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D.R. Horton's Q4 FY23 results surpassed expectations, with a 9% YoY sales growth and an EPS of $4.45. The company also increased its quarterly cash dividend by 20%. For FY24, DHI expects revenues between $36 billion and $37 billion.
D.R. Horton's better-than-expected Q4 FY23 results and the increase in its quarterly cash dividend are likely to have a positive impact on its stock price in the short term. The company's optimistic outlook for FY24 could also boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100