BUZZ-DR Horton shares sink after quarter, guidance miss expectations

Reuters
2024-10-29

** Shares in DR Horton Inc down ~9% on Tuesday, on track for biggest one-day pct decline since Jan 22, after largest U.S. homebuilder missed fiscal Q4 earnings, revenue estimates, forecast 2025 home deliveries below expectations

** Disappointing report also puts pressure on PHLX Housing index , down nearly 4%, with rival homebuilders in the red: Meritage Homes , down ~6% M/I Homes , down ~6%, Pultegroup down ~5%, Toll Brothers down ~5%, Lennar and KB Home down ~4% ** DHI reported Q4 adj EPS of $3.92 vs Wall Street consensus expectation for $4.17 while its revenue of $10 bln missed consensus est of $10.2 bln, according to LSEG ** Also, for fiscal yr 2025, DHI forecast delivery of 90,000 to 92,000 homes below analyst avg expectation for more than 94,000, according to data compiled by LSEG

** DHI shares last traded at $164.04 after earlier hitting $152.99 - lowest level since mid July. In comparison median PT for DHI is $200, as per LSEG, which shows 22 analyst ratings of 3 'strong buy,' 9 'buy,' 9 'hold' and 1 'sell'

** YTD, shares of DHI now up ~7.5% vs HGX index increase of nearly 16%

(Reporting By Sinéad Carew) ((mailto:sinead.carew@thomsonreuters.com; +13322191897;))

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