1053 ET - Incentives help home builders close deals, but the concern about their hit on margins is hard to shake on Wall Street. D.R. Horton's gross profit margin on revenue from home sales in 1Q came in at 22.7%, down 90 basis points sequentially from the September quarter. SVP Jessica Hansen on an earnings call says this was expected given higher incentive costs on a per-square-foot basis. "Our incentive costs are expected to increase further on homes closed over the next few months, so we expect our home sales gross margin to be lower in the second quarter compared to the first quarter," she adds. Shares tick up 0.4% to $148.21. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
January 21, 2025 10:53 ET (15:53 GMT)
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