Dallas/ Retail & Industry
AI Assisted Icon
Published on April 25, 2024
Arlington-Based D.R. Horton Reports Strong Q2 Earnings with Net Income Up 24%Source: City of Arlington, Texas

Arlington's own D.R. Horton laid out a pretty picture with its Q2 earnings, reporting a hefty 24% leap in net income compared to the same period last year, totting up to $1.2 billion, or $3.52 per diluted share. Underpinning the hefty earnings, consolidated revenues climbed by 14%, reaching $9.1 billion, while the number of homes closed escalated by 15% peaking at 22,548 homes, translated into a financial bump of 14% valuing at $8.5 billion.

Chairman of the Board Donald R. Horton, aiming to maximize returns in their communities, stated, "We are well-positioned with our affordable product offerings and flexible lot supply." Revealing the strategy behind the numbers, the company's steward expressed, "We are focused on maximizing returns in each of our communities and generating consistently strong cash flows from our homebuilding operations", according to the City of Arlington, Texas.

It's not just the numbers that are getting a boost, but the shareholders could soon feel the uptick too. With the company's financial health on a solid foundation, characterized by strong liquidity and low leverage, Horton laid out a map for the foreseeable future. According to him, the plan is to maintain their disciplined investing approach to further magnify long-term company value through means such as hiking dividends and share repurchases over time.

Outlining their plan for long-term financial stewardship, Horton explained, "Our strong liquidity and low leverage provide us with significant financial flexibility," and added, "we plan to maintain our disciplined approach to investing capital to enhance the long-term value of our company, including consistently returning capital to our shareholders by increasing dividends and share repurchases over time." Whether the market will be as bullish as D.R. Horton's leadership on its future is a story yet to be told, per the City of Arlington, Texas.