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🔹 Revenue: $9.23B (Est. $8.8B) 🟢; DOWN -7% YoY
🔹 EPS: $3.36 (Est. $2.90) 🟢; DOWN -18% YoY
🔹 Net Income: $1.0B; DOWN -24% YoY
Q3 Homebuilding
🔹 Revenue: $8.6B; DOWN -7% YoY
🔹 Homes Closed: 23,160; DOWN -4% YoY
🔹 Pre-tax Income: $1.2B; DOWN -25% YoY
🔹 Pre-tax Margin: 13.8% (vs. 17.0%)
🔹 Net Sales Orders: 23,071 homes (flat YoY); Order Value: $8.4B; DOWN -3% YoY
🔹 Sales Backlog: 14,075 homes; DOWN -16% YoY
🔹 Inventory: 38,400 homes (25,000 unsold)
🔹 Return on Inventory: 22.1%
🔹 Cancellation Rate: 17% (vs. 18%)
Q3 Rental Operations
🔹 Revenue: $380.7M; DOWN -8% YoY
🔹 Pre-tax Income: $54.8M; DOWN -15% YoY
🔹 Single-Family Rentals Sold: 1,065 homes; UP +35% YoY
🔹 Multi-Family Units Sold: 328; DOWN -46% YoY
Q3 Forestar (FOR)
🔹 Lots Sold: 3,605; UP +11% YoY
🔹 Revenue: $390.5M; UP +23% YoY
🔹 Pre-tax Income: $43.6M; DOWN -16% YoY
🔹 Pre-tax Margin: 11.2% (vs. 16.2%)
Q3 Capital Allocation
🔹 Dividend Declared: $0.40/share
🔹 Dividends Paid (Q3): $122.4M
🔹 Share Repurchases (Q3): 9.7M shares for $1.2B
🔹 YTD Share Repurchases: 26.2M shares for $3.6B
🔹 Shares Outstanding: 298.9M (DOWN -9% YoY)
🔹 Remaining Buyback Authorization: $4.0B
Q3 Balance Sheet & Liquidity
🔹 Cash Balance: $2.6B
🔹 Credit Facility Available: $2.9B
🔹 Total Liquidity: $5.5B
🔹 Debt: $7.2B; Debt/Capital Ratio: 23.2%
🔹 ROE: 16.1%; ROA: 11.1%
FY25 Guidance
🔹 Revenue: $33.7B to $34.2B (Est. $34.04B) 🟡
🔹 Homes Closed: 85,000 to 85,500 (Prior: 85,000–87,000)
🔹 Share Repurchases: $4.2B to $4.4B
🔹 Income Tax Rate: ~24%
🔹 Cash Flow from Ops: >$3.0B
🔹 Dividend Payments: ~$500M
Для обсуждения переходи в чат t.me/USstocksnews_chat
Комментарий генерального директора: Дэвид Олд
🔸 «Мы сдали больше домов, чем прогнозировалось, и сохранили валовую прибыль на уровне 21,8%».
🔸 «Стимулирующие меры по продажам, вероятно, еще больше возрастут в четвертом квартале в зависимости от спроса и ставок».
🔸 «Наша гибкая система поставок, доступные продукты и дисциплинированное распределение капитала обеспечивают нам выгодное положение».
#dhi
