D.R. Horton (NYSE:DHI) reported fourth-quarter earnings of $1.35 per share on Tuesday, which beat the analyst consensus estimate of $1.25 by 8%. This is a 10.66% increase over earnings of $1.22 per share from the same period last year.
The company, which dubs itself America’s Builder, reported quarterly sales of $5.04 billion, which beat the analyst consensus estimate of $4.86 billion by 3.70%. This is an 11.9% increase over sales of $4.505 billion the same period last year.
Chairman Donald Horton said, "With 56,975 homes closed in fiscal 2019, D.R. Horton completed its 18th consecutive year as the largest homebuilder in the United States.
"Over the last five years, we have grown our revenues by 119% and our earnings per share by 186%, while also generating $4 billion of cash flows from homebuilding operations, significantly increasing returns on inventory and equity and reducing our debt."
The company's return on equity (ROE) was 17.2% in fiscal 2019, and homebuilding return on inventory (ROI) was 18.1%. ROE is calculated as net income attributable to D.R. Horton for the year divided by average stockholders' equity.
Cash provided by homebuilding operations for fiscal 2019 was $1.4 billion, and the company ended the year with $1.0 billion of homebuilding unrestricted cash and homebuilding debt to total capital of 17.0%.
Homebuilding debt to total capital consists of homebuilding notes payable divided by total equity plus homebuilding notes payable.
Shares jumped $2.58, or 4.9%, to $55.23
