D.R. Horton Reports Solid Fiscal 2024 Earnings

D.R. Horton Inc ( (DHI) ) has realeased its Q4 earnings. Here is a breakdown of the information D.R. Horton Inc presented to its investors.

D.R. Horton, Inc., a leading homebuilder in the United States, specializes in constructing and selling high-quality homes across a range of prices while also engaging in rental property sales and mortgage services. In its latest earnings report, D.R. Horton announced a solid performance for the fiscal year 2024, with a notable increase in earnings per share and home sales revenues compared to the previous year. The company reported a net income of $4.8 billion for the fiscal year, translating to earnings per diluted share of $14.34, a 4% increase over fiscal 2023. Home sales revenues rose by 7%, closing 89,690 homes, indicating robust demand despite a minor decrease in consolidated revenues for the fourth quarter compared to the previous year. The company’s strategic efforts included repurchasing $1.8 billion of common stock, reducing its outstanding shares by 3%, a move that underscores its commitment to returning value to shareholders. D.R. Horton’s rental operations contributed $228.7 million in pre-tax income on $1.7 billion in revenues, despite a decline from the previous year’s figures, reflecting challenges in the rental market. Additionally, the company increased its quarterly dividend by 33% to $0.40 per share, signaling confidence in its financial stability and future prospects. Looking ahead to 2025, the management remains optimistic about generating higher cash flows and maintaining financial flexibility through its strategic focus on affordable housing, improved construction cycle times, and a disciplined approach to capital allocation.