Earnings release
Page 1
D.R.HORTON® America's Builder D.R. HORTON , INC . , AMERICA'S BUILDER , REPORTS FISCAL 2021 SECOND QUARTER EARNINGS AND DECLARES QUARTERLY DIVIDEND OF $ 0.20 PER SHARE ARLINGTON , Texas ( Business Wire ) - April 22 , 2021 Fiscal 2021 Second Quarter Highlights - comparisons to the prior year quarter • • Net income per diluted share increased 95 % to $ 2.53 Net income attributable to D.R. Horton increased 93 % to $ 929.5 million • Consolidated revenues increased 43 % to $ 6.4 billion • Consolidated pre - tax income increased 90 % to $ 1.2 billion • Consolidated pre - tax profit margin improved 450 basis points to 18.3 % • Homes closed increased 36 % to 19,701 homes and 41 % in value to $ 6.2 billion • Net sales orders increased 35 % to 27,059 homes and 47 % in value to $ 8.8 billion • Repurchased 4.5 million shares of common stock for $ 350.4 million D.R. Horton , Inc. ( NYSE : DHI ) , America's Builder , today reported that net income per common share attributable to D.R. Horton for its second fiscal quarter ended March 31 , 2021 increased 95 % to $ 2.53 per diluted share compared to $ 1.30 per diluted share in the same quarter of fiscal 2020. Net income attributable to D.R. Horton in the second quarter of fiscal 2021 increased 93 % to $ 929.5 million compared to $ 482.7 million in the same quarter of fiscal 2020. Homebuilding revenue for the second quarter of fiscal 2021 increased 41 % to $ 6.2 billion from $ 4.4 billion in the same quarter of fiscal 2020. Homes closed in the quarter increased 36 % to 19,701 homes compared to 14,539 homes closed in the same quarter of fiscal 2020 . For the six months ended March 31 , 2021 , net income per common share attributable to D.R. Horton increased 90 % to $ 4.67 per diluted share compared to $ 2.46 per diluted share in the same period of fiscal 2020. Net income attributable to D.R. Horton for the six months ended March 31 , 2021 increased 88 % to $ 1.7 billion compared to $ 914.0 million in the same period of fiscal 2020. Homebuilding revenue for the first six months of fiscal 2021 increased 44 % to $ 11.9 billion from $ 8.3 billion in the same period of fiscal 2020. Homes closed in the first six months of fiscal 2021 increased 40 % to 38,440 homes compared to 27,498 homes closed in the same period of fiscal 2020 . Net sales orders for the second quarter ended March 31 , 2021 increased 35 % to 27,059 homes and 47 % in value to $ 8.8 billion compared to 20,087 homes and $ 6.0 billion in the same quarter of the prior year . The Company's cancellation rate ( cancelled sales orders divided by gross sales orders ) for the second quarter of fiscal 2021 was 15 % compared to 19 % in the prior year quarter . Net sales orders for the first six months of fiscal 2021 increased