D.R. Horton's Net Incomes Rose 13% YOY in Q1 2017

Fort Worth, TX, January 25, 2017—D.R. Horton reported that net income for its first fiscal quarter ended December 31, 2016 increased 31% to $206.9 million, or $0.55 per diluted share, from $157.7 million, or $0.42 per diluted share, in the same quarter of fiscal 2016.

Net sales orders for the first quarter ended December 31, 2016 increased 15% to 9,241 homes and 17% in value to $2.8 billion compared to 8,064 homes and $2.4 billion in the prior year quarter.

Homebuilding revenue for the first quarter of fiscal 2017 increased 20% to $2.8 billion from $2.4 billion in the same quarter of fiscal 2016. Homes closed in the quarter increased 17% to 9,404 homes compared to 8,061 homes in the prior year quarter.