D.R. Horton Homebuilding Revenue Up 10% in Q3
Arlington, TX, August 5, 2019--D.R. Horton reported net income for Q3 rose 5% to $474.8 million year over year (YOY). Homebuilding revenue for Q3 2019 increased 10% to $4.8 billion in comparison to Q3 2018. Homes closed in the quarter increased 13% compared homes closed in the same quarter of fiscal 2018.
Net sales orders for Q3 increased 6% to 15,588 homes and 8% in value YOY.
The company repurchased 3.7 million shares of common stock for $159.3 million during the third quarter of fiscal 2019, for a total of 9.8 million shares of common stock for $375.5 million during the nine months ended June 30, 2019. There was no balance remaining on the Company’s stock repurchase authorization at June 30, 2019. Subsequent to quarter-end, the Company’s Board of Directors authorized the repurchase of up to $1.0 billion of common stock effective July 30, 2019. The new authorization has no expiration date.