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D.R. Horton Sees Higher Revenues In FY18 - Quick Facts

Homebuilder D.R. Horton, Inc. (DHI) Thursday said it has updates its previously issued fiscal 2018 guidance.

For the year, the company expects consolidated revenues of $15.5 billion to $16.3 billion, compared to homebuilding revenues of $13.74 billion last year.

On average, 15 analysts polled by Thomson Reuters expect revenues of $15.87 billion for the year. Analysts' estimates typically exclude special items.

For 2018, the company projects homes closed between 50,500 homes and 52,500 homes, and home sales gross margin around 20%, with potential quarterly fluctuations that may range from 19% to 21%

Donald Horton, Chairman of the Board, said, "With 45,751 homes closed in fiscal 2017, D.R. Horton completed its 16th year in a row as the largest homebuilder by volume in the United States....We remain focused on growing our revenues and pre-tax profits at a double-digit annual pace, while continuing to generate positive annual cash flows and improved returns. With 26,200 homes in inventory at the end of the year, 249,000 lots owned and controlled, and positive sales trends in October, we are excited and well-positioned for continued strong performance in 2018 as we celebrate our 40th anniversary year."

Further, the company has declared a quarterly cash dividend of $0.125 per common share, an increase of 25% compared to its most recent dividend paid. The dividend is payable on December 15 to stockholders of record on December 1.

by RTT Staff Writer

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