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DR Horton shares Q3 earnings beat, but misses on home orders

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DR Horton News

Madison Mills,Earnings Per Share,Earnings Estimates

Shares of Texas-based homebuilder DR Horton (DHI) shoot higher after missing estimates for home orders in its fiscal third quarter. DR Horton beat earnings...

) shoot higher after missing estimates for home orders in its fiscal third quarter. DR Horton beat earnings estimates on its top and bottom lines, posting $9.97 billion in revenue and adjusted earnings per share of $4.10 .They actually up over 8% despite quarterly orders missing expectations as consumers still grapple with the weight of those higher mortgage rates.

That recent pullback in mortgage mortgage rates falling below that 7% handle that we saw through April and May could, uh, see make analysts see that result as sort of backward looking because we are getting that drop off in mortgage rates.Also, the commentary around demand is going to be really important for the stock, given that some of that mortgage rate changing is potentially making the earnings print a little bit backward.

So we will be more interesting to see what some of that current commentary, uh, the current or the commentary is about the current quarter here, and whether or not they're starting to see any pick up in demand when it comes to their outlook, what they are expecting for the remainder of a year they had their sales volume.

 

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