Builder D.R. Horton Beats On Q3 Earnings, Authorizes $4B Stock Buyback, Tightens FY24 Home Sales Forecast & More
Portfolio Pulse from Lekha Gupta
D.R. Horton (NYSE:DHI) reported strong Q3 FY24 earnings, beating expectations with a 2% Y/Y sales growth to $10 billion and EPS of $4.10. The company authorized a new $4 billion stock buyback program and revised its FY24 revenue outlook. DHI shares rose 6.2% following the news.
July 18, 2024 | 5:23 pm
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POSITIVE IMPACT
D.R. Horton reported strong Q3 FY24 earnings, beating expectations with a 2% Y/Y sales growth to $10 billion and EPS of $4.10. The company also authorized a new $4 billion stock buyback program and revised its FY24 revenue outlook. Shares rose 6.2% following the news.
The strong earnings report, new stock buyback program, and revised FY24 outlook are positive indicators for D.R. Horton. The 6.2% rise in share price reflects investor confidence.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The SMI 3Fourteen Full-Cycle Trend ETF (FCTE) may see a positive impact from D.R. Horton's strong Q3 earnings and stock buyback program, as DHI is part of its portfolio.
D.R. Horton is part of the FCTE ETF's portfolio. The strong earnings report and new stock buyback program are likely to have a positive impact on FCTE.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
The iShares U.S. Home Construction ETF (ITB) is likely to benefit from D.R. Horton's strong Q3 earnings and positive outlook, as DHI is a significant component of the ETF.
D.R. Horton is a significant component of the ITB ETF. The positive earnings report and outlook for D.R. Horton are likely to have a favorable impact on ITB.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50