Homebuilder D.R. Horton (NYSE: DHI) will be announcing earnings results this Tuesday before the bell. Here’s what you need to know.
D.R. Horton beat analysts’ revenue expectations last quarter, reporting revenues of $6.89 billion, down 9.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and revenue estimates.
Is D.R. Horton a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting D.R. Horton’s revenue to decline 1.6% year on year, improving from the 15.1% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. D.R. Horton has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at D.R. Horton’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. KB Home’s revenues decreased 22.6% year on year, missing analysts’ expectations by 1.8%, and Lennar reported a revenue decline of 13.3%, falling short of estimates by 4.5%. KB Home traded down 1.5% following the results while Lennar was up 2.6%.
Read our full analysis of KB Home’s results here and Lennar’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 10.3% on average over the last month. D.R. Horton is up 8.1% during the same time and is heading into earnings with an average analyst price target of $154.57 (compared to the current share price of $150.03).
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