Housing monopolist D.R. HORTON (NYSE: DRI) wants to destroy Fish Island and presented false testimony July 3, 2018 that the bald eagles' nest was "abandoned."
Here's The Motley Fool's report on the 2018 Q3 DIR earnings report:
Why D.R. Horton Stock Popped 11% Today
The homebuilder beat on sales and on earnings, and raised guidance for the year.
What happened
Shares of homebuilder D.R. Horton (NYSE:DHI) closed 10.9% higher on Thursday after the company reported fiscal third-quarter 2018 earnings that beat Wall Street's predictions by a dime.
Expected to report $1.08 per share in profit on sales of $4.3 billion, D.R. Horton instead reported earning $1.18 per share on sales of $4.4 billion.
D.R. HORTON HAMMERED OUT ANOTHER EARNINGS BEAT TODAY. IMAGE SOURCE: GETTY IMAGES.
So what
Good as that "earnings beat" may feel, though, it doesn't come close to describing how great a quarter this was for D.R. Horton. The company sold 12% more new homes in Q3 this year than it had in last year's Q3, and charged more for them, driving sales up 13%. Operating profit margins on those sales expanded by 210 basis points to 13.9%, sending operating profits up 39%.
On the bottom line, net income increased 57% year over year.
Now what
With its fiscal year now three-quarters complete, D.R. Horton updated investors on its expectations for the balance of the year. By the time fiscal 2018 draws to a close, management expects to book sales of between $16.1 billion and $16.3 billion (up roughly 15% year over year), and to earn operating profit margins of between 12.7% and 12.9% on that revenue.
Management further predicted that it will grow sales a further 10% to 15% in fiscal 2019.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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