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UPDATE 1-Homebuilder D.R. Horton's profit, revenue beat on higher sales [Reuters (UK)]

DR HORTON (DHI)  More Company Research Source: Reuters
Last dr horton earnings: 4/26 06:30 am Check Earnings Report
US:NYSE Investor Relations: investor.drhorton.com
PDF Homebuilder D.R. Horton's profit, revenue beat on higher sales | Reuters Reuters Staff 2 Min Read (Reuters) - D.R. Horton Inc ( DHI.N ) reported first-quarter profit and revenue on Wednesday above Wall Street estimates as the largest U.S. homebuilder sold more homes in a robust housing market. Orders, an indicator of future revenue for homebuilders, rose 16.4 percent to 10,753 homes in the quarter, a reflection of how job growth is powering demand despite high construction costs keeping prices up. The company said it expects fiscal 2018 gross margin to be around 20-21 percent, with some fluctuations in the quarters ahead, compared with its prior forecast of around 20 percent. D.R. Horton said it expects to sell between 50,500 and 52,500 homes in fiscal 2018 and reaffirmed its revenue forecast to be between $15.5 billion and $16.3 billion. On Tuesday, smaller rival PulteGroup Inc ( PHM.N ) warned of decline in gross margin this year, citing higher land, labor and raw material costs [Read more]

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