Dive summary:
- D.R. Horton had a fourth quarter that makes one look a second time to be sure the numbers are right: Profits were up 180% from the previous year, going from 11 cents a share to 30 cents.
- Chairman Donald R. Horton said the home-builder is going into its new fiscal year with the biggest backlog of work in six years – since FY 2007.
- Sales orders during the fourth quarter were up 24%, the company reported.
From the article:
Home-builder D.R. Horton’s ($19.40 -1.2%) profit jumped 180% to $100.1 million, or 30 cents a share, in the company’s fourth quarter as sales orders grew 24%. ...