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D.R. Horton, Inc. reports developments tied to its U.S. homebuilding, rental housing and homebuyer financial-services operations. Company updates commonly cover quarterly earnings, homes closed, net sales orders, cancellation rates, profit margins, liquidity, leverage, dividends and capital allocation.
The company builds and sells homes across a broad price range, constructs and sells single-family and multi-family rental properties, and provides mortgage financing, title services and insurance agency services for homebuyers. News also includes Forestar Group, D.R. Horton’s majority-owned publicly traded residential lot developer, whose lot inventory, development activity and contracts support the company’s controlled lot supply.
D.R. Horton reported robust results for its second fiscal quarter of 2022, with net income per diluted share rising 59% to $4.03. Net income reached $1.4 billion, a 55% increase from last year. Consolidated revenues surged 24% to $8.0 billion, driven by a 22% increase in home sales revenues. Homes closed slightly rose to 19,828, and net sales orders increased 10% in value. The company repurchased 3.1 million shares for $266 million, enhancing shareholder returns. D.R. Horton’s updated guidance projects revenues between $35.3 billion and $36.1 billion for fiscal 2022.
Forestar Group reported robust second-quarter results for the period ending March 31, 2022. Net income soared 68% to $47.8 million ($0.96 per diluted share), driven by a 47% increase in revenues to $421.6 million. The number of residential lots sold surged 61% to 5,788. The pre-tax profit margin improved to 15.0%, up 190 basis points. For the fiscal year, guidance for pre-tax profit margin has been lifted to 14.0%-14.5% from 13.5%-14.0%. Forestar's return on equity improved to 14.5%, marking the eighth consecutive quarter of growth.
D.R. Horton, Inc. (NYSE: DHI) has announced its acquisition of Vidler Water Resources, Inc. (NASDAQ: VWTR) for $15.75 per share in an all-cash transaction, totaling approximately $291 million. This offer represents a 19% premium to Vidler's 90-day average share price and a 39% premium to its book value. Vidler holds critical water rights in the southwestern U.S., essential for D.R. Horton’s development projects. The acquisition is expected to close in the second quarter of 2022, pending customary conditions.
Forestar Group Inc. (NYSE: FOR) announced it will release its financial results for Q2 2022, ending March 31, on April 21, 2022, after market close. A conference call is scheduled at 5:00 PM ET, accessible via dial-in at 888-506-0062, with a replay available after 7:00 PM ET. Forestar operates in 55 markets across 23 states, delivering 16,864 residential lots in 2021. It's a majority-owned subsidiary of D.R. Horton, Inc. (NYSE: DHI), the U.S.'s largest homebuilder since 2002.
D.R. Horton, America’s Builder, will release its financial results for Q2 ended March 31, 2022, on April 26, 2022, before market opening. A conference call is scheduled for 8:30 a.m. ET the same day, with a dial-in number provided for attendees. The replay will be available post-call, lasting until May 3, 2022. D.R. Horton has been the largest U.S. homebuilder since 2002, operating in 102 markets across 32 states and closing 81,622 homes in 2021. The company offers a diverse brand portfolio and provides mortgage, title, and insurance services to homebuyers.
Forestar Group Inc. (NYSE: FOR) will participate in the 2022 Citi Global Property CEO Conference on March 8, 2022, with CEO Daniel C. Bartok presenting at 2:45 p.m. ET. The conference takes place at The Diplomat Beach Resort, Hollywood, Florida. A live broadcast of the presentation can be accessed on Forestar’s investor site, where a replay will be available within 24 hours and accessible until March 29, 2022. Forestar, a subsidiary of D.R. Horton, Inc. (NYSE: DHI), develops residential lots across 55 markets in 23 states, delivering 16,864 lots in the last year.
D.R. Horton reported strong fiscal Q1 2022 results, with net income rising 44% to $1.1 billion and EPS up 48% at $3.17. Consolidated revenues reached $7.1 billion, a 19% increase, while pre-tax income surged 45% to $1.5 billion. Despite a 2% decline in homes closed, net sales orders rose 29% in value to $8.3 billion. The company reported 29,347 homes in backlog, reflecting a 3% increase. D.R. Horton reaffirmed its 2022 revenue guidance between $34.5 billion and $35.5 billion.
Forestar Group reported strong financial results for Q1 FY2022, with net income rising 84% to $40.5 million ($0.81/share). Revenues jumped 33% to $407.6 million, alongside a 27% increase in residential lots sold, totaling 4,516 lots. Pre-tax income surged 83% to $53.5 million, with a profit margin improvement of 360 basis points to 13.1%. The company increased its FY2022 guidance, expecting to deliver 19,500-20,000 lots and generate around $1.7 billion in revenue. Forestar's return on equity improved to 13.2%, marking the seventh consecutive quarter of growth.
Forestar Group Inc. (NYSE: FOR) will release its first-quarter financial results for the period ending December 31, 2021, on January 27, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET, with the dial-in number being 888-506-0062 (access code 548187). Interested parties can also access the call via webcast at the company's investor relations website. A replay will be available post-call until February 3, 2022, and the webcast will remain accessible until April 30, 2022.
D.R. Horton, Inc. (NYSE:DHI), a leading U.S. homebuilder, will announce its financial results for Q1 ended December 31, 2021, on February 2, 2022, before market opens. A conference call will take place at 8:30 a.m. ET on the same day, with a replay available post-call until February 9, 2022. D.R. Horton, founded in 1978, operates in 98 markets across 31 states and was the largest homebuilder by volume in the U.S. in 2021, closing 81,965 homes in its fiscal year ending September 30, 2021.