The company said homes closed in the 3-month period ended March 31, 2024 increased 15% to 22,548 homes, while the average closing price fell 1% to $375,500. Net sales orders for the same quarter rose 14% to 26,456 homes, and their value increased 17% to $10.1 billion.

10-QQuarterly reportFiled Apr 23, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said homes closed in the 3-month period ended March 31, 2024 increased 15% to 22,548 homes, while the average closing price fell 1% to $375,500. Net sales orders for the same quarter rose 14% to 26,456 homes, and their value increased 17% to $10.1 billion.
D.R. Horton said consolidated revenues rose 11% to $16.8 billion in the 6-month period ended March 31, 2024, with pre-tax income of $2.8 billion and a pre-tax operating margin of 16.5% in both periods. It reported net income of $2.1 billion and diluted earnings per share of $6.34, compared with $5.50 in the prior-year period.
The company said net cash used in operating activities was $470.1 million in the 6-month period ended March 31, 2024, compared with net cash provided of $1.5 billion in the prior-year period. It said its rental and Forestar segments used $653.9 million and $216.0 million, respectively, while its homebuilding segment generated $408.3 million in cash.
The company said net cash used in financing activities was $270.6 million in the 6-month period ended March 31, 2024, mainly for share repurchases of $794.5 million and cash dividends of $199.1 million. The uses were partially offset by net borrowings of $585.0 million on its rental revolving credit facility and $214.4 million on its mortgage repurchase facilities.

Key figures

Quarter ended March 31, 2024

Revenue: $9.1B
Net income: $1.2B
EPS: $3.52

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Homes closed and net sales orders up in March 2024 quarter

The company said homes closed in the 3-month period ended March 31, 2024 increased 15% to 22,548 homes, while the average closing price fell 1% to $375,500. Net sales orders for the same quarter rose 14% to 26,456 homes, and their value increased 17% to $10.1 billion.

Source · Based on the MD&A text of the filing

Six-month revenue, earnings and EPS

D.R. Horton said consolidated revenues rose 11% to $16.8 billion in the 6-month period ended March 31, 2024, with pre-tax income of $2.8 billion and a pre-tax operating margin of 16.5% in both periods. It reported net income of $2.1 billion and diluted earnings per share of $6.34, compared with $5.50 in the prior-year period.

Source · Based on the MD&A text of the filing

Six-month operating cash flow and segment uses

The company said net cash used in operating activities was $470.1 million in the 6-month period ended March 31, 2024, compared with net cash provided of $1.5 billion in the prior-year period. It said its rental and Forestar segments used $653.9 million and $216.0 million, respectively, while its homebuilding segment generated $408.3 million in cash.

Source · Based on the MD&A text of the filing

Six-month financing: buybacks, dividends and net borrowings

The company said net cash used in financing activities was $270.6 million in the 6-month period ended March 31, 2024, mainly for share repurchases of $794.5 million and cash dividends of $199.1 million. The uses were partially offset by net borrowings of $585.0 million on its rental revolving credit facility and $214.4 million on its mortgage repurchase facilities.

Source · Based on the MD&A text of the filing

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

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