D.R. Horton Inc. (DHI) released its third quarter results on Thursday, July 22, 2021. The company reported net earnings of $3.06 per share for the third quarter ending June 30, 2021. Earnings for this past quarter were up 78 percent compared to the same period a year ago.
D.R. Horton, Inc. was founded in 1978 and is based in Arlington, Texas. D.R. Horton, Inc. operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West regions in the United States. It engages in the acquisition and development of land; and construction and sale of homes in 29 states and 88 markets under the names of D.R. Horton, America's Builder, Express Homes, Emerald Homes, and Freedom Homes.
D.R. Horton's revenue increased 38 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 28.68% for the third quarter compared to the same period in the previous year, and operating margins increased to 19.44% over the same period. Net earnings for past trailing twelve months were $3665.8 million, up 79% from the prior year.
Moving on to the balance sheet, D.R. Horton's cash levels dropped 17% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 22.53% this past year. The current ratio for D.R. Horton now stands at 6.03. The company decreased shares outstanding by 1.51%.
Shares of DHI are currently trading around $89.64. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 8.99 and price to book ratio of 2.36.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Friday, July 23, 2021.