D.R. Horton's Profit Rises, But Falls Short Of Expectations

D.R. Horton reported on Tuesday a fiscal fourth-quarter profit of $166.3 million, or 45 cents a share, up from $139.5 million, or 40 cents a share, in the year-earlier period. That compares with the FactSet consensus analyst estimate of 48 cents. Homebuilding revenue rose 33% to $2.4 billion, matching analyst forecasts, as net sales orders rose 38% while the value of the orders increased 41%. "With a 29% increase in our beginning backlog value and a greater than 20% year-over-year increase in our October net sales orders, we are off to a great start in fiscal 2015," said Chairman Donald Horton. The stock was still inactive in premarket trade. Through Monday, it had gained 5% so far this year, while the S&P 500 has gained 10%.