AI English summary of an SEC filing — figures as filed
D.R. Horton DHIThe company said net income attributable to D.R. Horton for fiscal 2024 Q2 (ended March 31) rose 24% to $1.2 billion ($3.52 per diluted share), and consolidated revenues rose 14% to $9.1 billion. Consolidated pre-tax income increased 23% to $1.5 billion, with a pre-tax profit margin of 16.8%.
Key points
AI summaryThe company said net income attributable to D.R. Horton for fiscal 2024 Q2 (ended March 31) rose 24% to $1.2 billion ($3.52 per diluted share), and consolidated revenues rose 14% to $9.1 billion. Consolidated pre-tax income increased 23% to $1.5 billion, with a pre-tax profit margin of 16.8%.
The company said it delivered 22,548 more homes in Q2, an increase of 15%, and net sales orders rose 14% to 26,456 homes ($10.1 billion in value, up 17%). As of March 31, its sales order backlog was 17,873 homes, down 7%, and its value was $7.0 billion, down 5%.
The company said that as of March 31, 2024, it had cash and cash equivalents of $3.1 billion and available capacity on its credit facilities of $2.6 billion, for total liquidity of $5.7 billion. It said debt totaled $5.9 billion, and its debt to total capital ratio was 20.0%. Net cash used in operating activities was $470.1 million over the 6 months ended.
The company said it repurchased 2.7 million shares of common stock for $402.2 million and paid cash dividends of $99.2 million during Q2. It also declared a quarterly dividend of $0.30 per share. The company also updated its fiscal 2024 guidance, citing consolidated revenues of approximately $36.7 billion to $37.7 billion and homes closed of 89,000 to 91,000 homes.
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.
Q2 Net Income, Revenue and Pre-Tax Income
The company said net income attributable to D.R. Horton for fiscal 2024 Q2 (ended March 31) rose 24% to $1.2 billion ($3.52 per diluted share), and consolidated revenues rose 14% to $9.1 billion. Consolidated pre-tax income increased 23% to $1.5 billion, with a pre-tax profit margin of 16.8%.
Source · Based on the filing body and exhibits
Q2 Homes Closed, Net Sales Orders and Backlog
The company said it delivered 22,548 more homes in Q2, an increase of 15%, and net sales orders rose 14% to 26,456 homes ($10.1 billion in value, up 17%). As of March 31, its sales order backlog was 17,873 homes, down 7%, and its value was $7.0 billion, down 5%.
Source · Based on the filing body and exhibits
Liquidity, Debt and 6-Month Operating Cash Flow
The company said that as of March 31, 2024, it had cash and cash equivalents of $3.1 billion and available capacity on its credit facilities of $2.6 billion, for total liquidity of $5.7 billion. It said debt totaled $5.9 billion, and its debt to total capital ratio was 20.0%. Net cash used in operating activities was $470.1 million over the 6 months ended.
Source · Based on the filing body and exhibits
Shareholder Returns and Fiscal Year Outlook
The company said it repurchased 2.7 million shares of common stock for $402.2 million and paid cash dividends of $99.2 million during Q2. It also declared a quarterly dividend of $0.30 per share. The company also updated its fiscal 2024 guidance, citing consolidated revenues of approximately $36.7 billion to $37.7 billion and homes closed of 89,000 to 91,000 homes.
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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