D R Horton Slashes FY22 Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, home builder D R Horton Inc. (DHI) slashed its revenue and homes closed guidance for the full-year 2022, based on its results for the first nine months of fiscal 2022, expected completion dates of homes under construction and current market conditions.

For fiscal 2022, the company now projects consolidated revenues in a range of $33.8 billion to $34.6 billion on Homes closed between 83,000 homes and 85,000 homes.

Previously, the company expected consolidated revenues in a range of $35.3 billion to $36.1 billion on Homes closed between 88,000 homes and 90,000 homes.

On average, 16 analysts polled by Thomson Reuters expect the company to report revenues of $34.86 billion for the year.

Subsequent to quarter-end, the Company declared a quarterly cash dividend of $0.225 per common share that is payable on August 11, 2022 to stockholders of record on August 4, 2022.

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