Plus   Neg

M.D.C Holdings Q1 Profit Down

M.D.C Holdings Inc. (MDC) reported that its first-quarter net income was $36.8 million, or $0.56 per share, down from $40.6 million or $0.64 per share in the previous year.

Home sale revenues were up 8% to $697.1 million from $647.3 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share and revenues of $730.01 million for the quarter. Analysts' estimates typically exclude special items.

In April 2020, net new home orders decreased 53% to 357 units from 753 units last year. New home deliveries increased 11% to 523 units from 470 units in the previous year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The media mogul and Billionaire Sumner Redstone passed away on Tuesday at the age of 97, his family's holding company National Amusements said in a statement on Wednesday. He was Chairman Emeritus of ViacomCBS and chief executive officer of National Amusements. Customers in the U.S. are preferring digital or touchless payment methods due to concerns arising from the COVID-19 pandemic, a survey said. According to the survey by Rapyd Financial Network, the coronavirus pandemic has raised health and safety concerns around using cash and coins, and is accelerating the pre-existing trend toward digital transactions. American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until December 31, 2020 in response to lower travel demand due to the coronavirus pandemic. This means that the travelers need not pay penalties for changing the origin and destination cities.
Follow RTT