D.R. Horton Says Closed Homes In Q3 Will Be 23,500-24,000; Sees Q3 Gross Margin Of 23%-23.5%; Expects Q3 Revenue Of $9.5B-$9.7B Vs $9.97B Est.
Portfolio Pulse from Benzinga Newsdesk
D.R. Horton announced its Q3 expectations, projecting closed homes to be between 23,500 and 24,000, with a gross margin of 23%-23.5%. The company anticipates Q3 revenue to be between $9.5B and $9.7B, which is below the estimated $9.97B.
April 18, 2024 | 1:00 pm
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D.R. Horton projects lower-than-expected Q3 revenue at $9.5B-$9.7B vs. $9.97B estimate, with closed homes and gross margin within expected ranges.
The projected revenue shortfall compared to estimates may negatively impact investor sentiment and stock price in the short term, despite closed homes and gross margin being within expected ranges.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100