January 31, 2018 / 11:41 AM / a year ago

BRIEF-D.R. Horton Reports Q1 Net Income Of $0.49 Per Diluted Share

Jan 31 (Reuters) - D.R. Horton Inc:

* D.R. HORTON, INC., AMERICA’S BUILDER, REPORTS FISCAL 2018 FIRST QUARTER EARNINGS AND DECLARES QUARTERLY DIVIDEND OF $0.125 PER SHARE

* QTRLY ‍NET SALES ORDERS INCREASED 17% IN VALUE TO $3.2 BILLION AND 16% IN HOMES TO 10,753​

* QTRLY ‍HOMES CLOSED INCREASED 14% IN VALUE TO $3.2 BILLION AND 15% IN HOMES TO 10,788​

* INCREASING FISCAL 2018 GUIDANCE FOR CONSOLIDATED PRE-TAX PROFIT MARGIN TO A RANGE OF 11.8% TO 12.0%

* INCREASING FISCAL 2018 GUIDANCE FOR CASH FLOW FROM OPERATIONS TO AT LEAST $700 MILLION EXCLUDING FORESTAR

* QTRLY NET INCOME INCLUDES A NON-CASH TAX-RELATED CHARGE OF $108.7 MILLION

* SEES ‍FISCAL 2018 HOME SALES GROSS MARGIN IN RANGE OF 20% TO 21%​

* SEES ‍FISCAL 2018 HOMES CLOSED BETWEEN 50,500 AND 52,500 HOMES​

* SEES ‍FISCAL 2018 CONSOLIDATED REVENUES BETWEEN $15.5 BILLION AND $16.3 BILLION​

* QTRLY NET INCOME ATTRIBUTABLE TO D.R. HORTON WAS $189.3 MILLION OR $0.49 PER DILUTED SHARE

* Q1 EARNINGS PER SHARE VIEW $0.49, REVENUE VIEW $3.26 BILLION — THOMSON REUTERS I/B/E/S

* ‍HOMES IN INVENTORY AT DECEMBER 31, 2017 INCREASED 13% TO 27,800 HOMES COMPARED TO 24,500 HOMES AT DECEMBER 31, 2016​

* CONTINUE TO EXPECT TO GROW REVENUES AND PRE-TAX PROFITS “AT A DOUBLE-DIGIT ANNUAL PACE”

* FY2018 REVENUE VIEW $16.19 BILLION — THOMSON REUTERS I/B/E/S

* SEES ‍FISCAL 2018 FINANCIAL SERVICES OPERATING MARGIN OF APPROXIMATELY 30%​ Source text for Eikon: Further company coverage:

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