D.R. Horton Q3 Profit Beats Estimates - Quick Facts

(RTTNews) - D.R. Horton, Inc. (DHI) said it delivered strong results in its third quarter. Consolidated revenues increased 11%, while pre-tax profit margin was 12.8%, for the quarter.

For the third-quarter, net income per share increased 7% to $1.26. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.07, for the quarter. Analysts' estimates typically exclude special items. Net income attributable to D.R. Horton increased 5% to $474.8 million.

Third-quarter consolidated revenues increased 11% to $4.9 billion. Analysts expected revenue of $4.52 billion for the quarter. Homebuilding revenue increased 10% to $4.8 billion. Homes closed increased 13% to 15,971 homes, while net sales orders increased 6% to 15,588 homes.

The company's Board authorized the repurchase of up to $1.0 billion of common stock effective July 30, 2019. There was no balance remaining on the previous stock repurchase authorization at June 30, 2019.