Creating livable and affordable homes, D.R. Horton has delivered more homes than any other homebuilder for the past 15 years. Over a span of more than 35 years, the builder had delivered more than 570,000 homes to buyers. The philosophy of creating value every step of the way was the company’s signature focus when Donald R. Horton unveiled his first neighborhood in the Dallas/Ft. Worth area. The company has since grown to operations in 78 markets in 26 states across the United States.
“With 24,500 homes in inventory at the end of December and a robust supply of lots, we are well-positioned for the upcoming spring selling season and the remained of fiscal 2017.”
—Donald R. Horton, Chairman of the Board, D.R. Horton
Earlier this year, the company reported that net income for its first fiscal quarter ended in December 2016 increased 31 percent to $206.9 million. Additionally, net sales for the first quarter increased 15 percent to 9,241 homes and 17 percent in value to $2.8 billion. Home sales gross margin was 19.8 percent.
Donald R. Horton, Chairman of the Board, said, “The D.R. Horton team produced strong results in our first quarter, highlighted by $318.1 million of pre-tax income on $2.9 billion of revenues. The values of our net sales increased by 17 percent, and our home sales revenues increased 20 percent.”
He continued, “These results reflect the strength of our experienced operational teams, diverse product offerings through our family of brands, and good market conditions across our broad national footprint. We remain focused on growing our revenues and pre-tax profits at double-digit annual pace, while continuing to generate positive annual operating cash flows and improved returns. With 24,500 homes in inventory at the end of December and a robust supply of lots, we are well-positioned for the upcoming spring selling season and the [rest] of fiscal 2017.”
Recently acquiring the homebuilding operations of Wilson Parker Homes and with the introduction of Freedom Homes for affordable, active adult living, D.R. Horton is creating a portfolio for long-term growth. The company also has a strong focus on customer service, creating efficiencies and processes in providing all the necessary resources for buyers to make their experience easy—including financing options.
D.R. Horton continues to demonstrate its leadership in residential development through design innovation, superior craftsmanship, and responsiveness to the needs of its customers.