{"id":37973,"date":"2023-07-20T00:31:01","date_gmt":"2023-07-20T04:31:01","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/d-r-horton-reports-earnings-thursday-heres-what-to-expect\/"},"modified":"2023-07-20T00:31:03","modified_gmt":"2023-07-20T04:31:03","slug":"d-r-horton-reports-earnings-thursday-heres-what-to-expect","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37973","title":{"rendered":"D.R. Horton Reports Earnings Thursday. Here’s What to Expect."},"content":{"rendered":"
\n
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\n D.R. Horton,<\/span>
\n America\u2019s largest public home builder, will report earnings before the market open Thursday, and investors in the overall sector should get ready for some action.<\/p>\n

The company\u2019s commentary could be a catalyst for other stocks in the industry, Oppenheimer analysts predicted this week.<\/p>\n

\n

D.R. Horton is expected to report earnings of $2.83 a share on revenue of about $8.3 billion for its fiscal third quarter ended June 30, according to FactSet. In the same period in 2022, the company reported earnings of $4.67 a share on sales of about $8.8 billion.<\/p>\n

The dramatic difference between this quarter\u2019s estimated earnings and the year-ago period\u2019s results isn\u2019t necessarily a surprise. The rapid rise in mortgage rates\u2019 since late 2022 has put a damper on the previously-frenzied pandemic housing market.\u00a0<\/p>\n

Investors, however, will likely be more interested in signs of recent strength in the market for new homes than year-over-year comparisons. Builder stocks in recent months have gotten a boost from increased interest in new homes as high mortgage rates have kept some prospective sellers in place, limiting supply.<\/p>\n

Investors might look to D.R. Horton\u2019s results for signs of the trend\u2019s continuation. <\/p>\n

Buy-side investors already expect an earnings beat, Oppenheimer\u2019s Tyler Batory and Jonathan Jenkins wrote in a July 17 report.\u00a0\u201cWe still think a clean beat and optimistic commentary on demand is a catalyst to move stocks in the sector higher,\u201d\u00a0they added.<\/p>\n

The imbalance between new and existing homes has shown up in a raft of recent data. Builder sentiment measured by the National Association of Home Builders increased for the seventh straight month in July as a low supply of existing-homes pushed some buyers to the market for newly built homes. New home sales in May jumped, while sales of existing homes continued to lag.\u00a0<\/p>\n

Executives at
\n Lennar,<\/span>
\n a large home builder, discussed this dynamic last month during an earnings call after reporting May quarter earnings. <\/p>\n

\u201cBottom line: supply is short, demand is returning to affordable offerings and builders will need to produce more homes to fill the void,\u201d Lennar Executive Chairman Stuart Miller said during the call.\u00a0<\/p>\n

Economists expect that this imbalance continued into last month, consensus estimates show. Two National Association of Realtors measures of the market for previously owned homes\u2014existing-home sales and pending home sales\u2014are expected to be roughly 18% and 15% lower than year-ago levels, respectively, in June, according to FactSet consensus estimates. Sales of new homes, meanwhile, are expected at a seasonally-adjusted annual rate of 722,000 in June\u2014<\/strong>a year-over-year increase of 28%.<\/p>\n

This backdrop is good news for builders, and D.R. Horton in particular, the Oppenheimer analysts wrote. <\/p>\n

\u201cThe lack of resale inventory is an especially attractive tailwind for a spec builder like DHI, given that it has the inventory for buyers to move before school starts in the fall,\u201d they said. Oppenheimer rates the company\u2019s shares Perform.\u00a0<\/p>\n

Write to Shaina Mishkin at shaina.mishkin@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

D.R. Horton, America\u2019s largest public home builder, will report earnings before the market open Thursday, and investors in the overall sector should get ready for some action. The company\u2019s commentary could be a catalyst for other stocks in the industry, Oppenheimer analysts predicted this week. D.R. Horton is expected to report earnings of $2.83 a […]<\/p>\n","protected":false},"author":1,"featured_media":37974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-37973","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nD.R. Horton Reports Earnings Thursday. Here's What to Expect. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"D.R. 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