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D.R. Horton Orders Rose as Housing Demand Recovers

November 24, 2014 By Joe Hennessey

The largest US-based homebuilder, D.R. Horton Inc, posted its quarterly revenue better than the estimates, driven by a 38% increase in orders and suggested an uptick throughout the housing demand.

Horton said its sold homes went up by 25% to 8,612 during the quarter that ended on September 30. During the year’s first 8 months, home prices along with interest rates went soaring, but Horton customers have returned after that.

D.R. Horton Orders Rose as Housing Demand RecoversBased on the Commerce Department’s data, the housing industry is showing recovery with a rise of 6.3% in September following the 14.4% drop in August.

On Monday, the Toll Brothers Inc., a luxury homebuilder, said orders from their company increased both in dollars and units, a first-time in 4 quarters.

Meanwhile, Horton’s revenue when it comes to its home sales, excluding land sales increased 33% to 2.4 billion dollars, exceeding the average estimate of analysts amounting to 2.38 billion dollars.

The company net income jumped to 166.3 million dollars or 45-cent per share, compared to the 139.5 million dollars or 40-cent per share the previous year. However, the company earnings overlooked the average estimate of analysts of 48-cent per share because costs increased to almost 35%.

Company shares dropped to less than 1% at 23.25 dollars in the premarket trading. Stock, on the other hand, rose 38% within the year up to Monday’s close.

Filed Under: Business & Economy Tagged With: D.R. Horton Inc

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