D.R. Horton Reports Strong Q2 Earnings, Raises FY24 Revenue Forecast

Shares of D.R. Horton surged following a robust second-quarter performance, with significant increases in revenue and homes closed.

D.R. Horton exceeded Q2 earnings expectations with a profit of $1.17 billion and an EPS of $3.52, surpassing the consensus estimates.
Total revenue for the quarter reached $9.11 billion, driven by a 14% year-over-year increase in sales and a 15% increase in homes closed.
The company has raised its FY24 revenue projections to between $36.7 billion and $37.7 billion, reflecting strong market demand.
Stock repurchase continued with $402 million spent in Q2, and a quarterly dividend of $0.30 per share was declared.
D.R. Horton's financial position remains strong, with a consolidated cash balance of $3.1 billion and total liquidity of $5.7 billion.