AI English summary of an SEC filing — figures as filed
D.R. Horton DHID.R. Horton said net income attributable to D.R. Horton for the fiscal 2024 first quarter ended December 31, 2023 was $947.4 million ($2.82 per diluted share), and consolidated revenues were $7.7 billion. Net income attributable to D.R. Horton for the same quarter of the prior year was $958.7 million.
Key points
AI summaryD.R. Horton said net income attributable to D.R. Horton for the fiscal 2024 first quarter ended December 31, 2023 was $947.4 million ($2.82 per diluted share), and consolidated revenues were $7.7 billion. Net income attributable to D.R. Horton for the same quarter of the prior year was $958.7 million.
The company said first quarter net sales orders rose 35% to 18,069 homes, and rose 38% in value to $6.8 billion. Its cancellation rate was 19% (27% in the prior year quarter). Sales order backlog as of December 31 was 13,965 homes, valued at $5.4 billion.
The company said net cash used in operations was $153.4 million during the three months ended December 31, 2023. The company's consolidated cash balance was $3.3 billion at period end, total liquidity was $6.4 billion, and debt was $5.3 billion.
D.R. Horton said it updated its fiscal 2024 guidance, with consolidated revenues of approximately $36.0 billion to $37.3 billion, homes closed by homebuilding operations of 87,000 homes to 90,000 homes, and an income tax rate of approximately 24.0%. The company said it reiterated share repurchases of approximately $1.5 billion.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Fiscal 2024 first quarter earnings and revenue
D.R. Horton said net income attributable to D.R. Horton for the fiscal 2024 first quarter ended December 31, 2023 was $947.4 million ($2.82 per diluted share), and consolidated revenues were $7.7 billion. Net income attributable to D.R. Horton for the same quarter of the prior year was $958.7 million.
Source · Based on the filing body and exhibits
Net sales orders and backlog
The company said first quarter net sales orders rose 35% to 18,069 homes, and rose 38% in value to $6.8 billion. Its cancellation rate was 19% (27% in the prior year quarter). Sales order backlog as of December 31 was 13,965 homes, valued at $5.4 billion.
Source · Based on the filing body and exhibits
3-month operating cash flow and liquidity
The company said net cash used in operations was $153.4 million during the three months ended December 31, 2023. The company's consolidated cash balance was $3.3 billion at period end, total liquidity was $6.4 billion, and debt was $5.3 billion.
Source · Based on the filing body and exhibits
Fiscal 2024 guidance updated
D.R. Horton said it updated its fiscal 2024 guidance, with consolidated revenues of approximately $36.0 billion to $37.3 billion, homes closed by homebuilding operations of 87,000 homes to 90,000 homes, and an income tax rate of approximately 24.0%. The company said it reiterated share repurchases of approximately $1.5 billion.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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