D.R. Horton (DHI) reported fiscal Q1 net income Tuesday of $2.61 per diluted share, down from $2.82 a year earlier.

Analysts polled by FactSet expected $2.35.

Revenue for the quarter ended Dec. 31 was $7.61 billion, compared with $7.73 billion a year earlier.

Analysts surveyed by FactSet expected $7.01 billion.

D.R. Horton said it continues to expect fiscal 2025 consolidated revenue of roughly $36 billion to $37.5 billion. Analysts polled by FactSet expect $36.80 billion.

Shares of the company were up more than 5% in recent premarket activity.