DR Horton Q3 Results Top View - Quick Facts

(RTTNews) - Home builder DR Horton Inc. (DHI) Tuesday said its third-quarter net income increased to $221.4 million or $0.60 per share from $113.1 million or $0.32 per share in the previous year.

On average, 18 analysts polled by Thomson Reuters expected earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.

Homebuilding revenue increased 37 percent to $2.9 billion from $2.1 billion in the same quarter of fiscal 2014. Analysts expected revenues of $2.70 billion for the quarter.

Net sales orders increased 25 percent in value to $3.0 billion and 22 percent in homes to 10,398.

The company said solid performance in its three core brands is enabling it to capitalize on market opportunities.

Donald R. Horton, Chairman of the Board, said, "We remain intently focused on growing our revenues and profits at a double-digit pace, while generating improved returns and continued positive cash flows."

The company has declared a quarterly cash dividend of $0.0625 per common share. The dividend is payable on August 18, to stockholders of record on August 7.