NVR, Inc. (NVR) reported mixed fourth-quarter 2023 results, with earnings surpassing the Zacks Consensus Estimate and Homebuilding revenues missing the same. Both the top and bottom lines decreased on a year-over-year basis due to softened housing demand, given higher mortgage rates during the period.Shares of this leading homebuilder inched up 0.2% during the trading session on Jan 30, 2024.Inside the NumbersThe company reported earnings of $121.56 per share, which topped the consensus mark of $118.63 by 2 ...

Otis Worldwide Corporation (OTIS) reported impressive results in fourth-quarter 2023. Its earnings and net sales surpassed the Zacks Consensus Estimate and grew on a year-over-year basis. Its quarterly results reflected 13 consecutive quarters of organic sales growth, and the results were marked by a mid-teens growth in adjusted earnings per share (EPS), the third consecutive quarter of high-single-digit organic sales growth in the Service segment, and a resurgence in New Equipment orders growth.Full year 2 ...

M.D.C. Holdings, Inc. (MDC) reported better-than-expected results for fourth-quarter 2023. Its earnings topped the Zacks Consensus Estimate and increased year over year.Revenues surpassed the consensus estimate but declined year over year. Following the results, shares of this homebuilding company inched up 0.1% on Jan 30.MDC’s uptrend can be attributed to the current new home market, which continues to benefit from the lack of existing home supply. The company witnessed notable improvements in its net new ...

The housing market may be on the precipice of a major recovery, at least according to PulteGroup (NYSE:PHM). Indeed, on its Tuesday earnings call, the homebuilder stated that it experienced a rapid jump in homebuying activity near the end of last year. What does this mean for the housing market this year? Well, common sense would say that it’s a bullish indicator for the volatile industry. Housing has been in something of a weird place for the past year or two. As a result of elevated mortgage rates and see ...

The homebuilding industry is gradually recovering over the last two months after suffering one of the worst periods in the previous two years. This space was one of the worst sufferers of the Federal Reserve’s aggressive interest rate hike policy.Accelerating mortgage rates as well as rising raw material and labor costs, hit the homebuilding industry. Buyers were discouraged from investing in new homes despite strong demand.Meanwhile, as the inflation rate started declining, despite remaining above the Fed’ ...

Shares of D.R. Horton (DHI 1.70%), the nation's biggest homebuilder, were falling this week after the company posted disappointing estimates in its fiscal first-quarter earnings report.The news comes after homebuilder stocks like D.R. Horton have seen a dramatic increase in profits over the last year or two due to a shortage of available housing and an unwillingness of homeowners to sell and lose their low-priced mortgages, creating demand for new homes.However, the company missed estimates on the bottom li ...

Shares of D.R. Horton (DHI -9.24%) fell 9.2% on Tuesday after the country's largest homebuilder announced mixed quarterly results relative to expectations.Falling home prices put a dent in D.R. Horton's profitsFor its fiscal first quarter of 2024 ended Dec. 31, 2023, revenue grew 6.5% year over year to $7.73 billion, translating to net income of $947.4 million, or $2.82 per share. Analysts, on average, were modeling slightly higher earnings of $2.88 per share on lower revenue of $7.59 billion. Digging deepe ...

D.R. Horton, Inc. (DHI) reported first-quarter fiscal 2024 (ended Dec 31, 2023) results, wherein earnings missed the Zacks Consensus Estimate, but revenues surpassed the same.Shares of the company plunged 6.1% in the pre-market trading session on Jan 23.On a year-over-year basis, both the top and bottom lines increased. The upside was backed by the supply of both new and existing homes as affordable price points remain limited, and robust housing demand supported by favorable demographics amid elevated infl ...

Key TakeawaysHomebuilder stocks lost ground Tuesday after D.R. Horton Inc. missed profit estimates, citing incentives and lower prices it offered to draw in buyers.D.R. Horton's margins were lower than expected as it tried to keep costs down with mortgage rates the highest they've been in several years.D.R. Horton raised its outlook for 2024 home sales, anticipating a rise in demand even with high borrowing costs.Homebuilder stocks tumbled Tuesday after D.R. Horton Inc. (DHI), the largest U.S. homebuilder b ...

Shares of D.R. Horton Inc. were suffering the biggest selloff in nearly four years on Tuesday, after the homebuilder missed profit expectations, as elevated incentives to buy new homes ate into margins.And given current affordability challenges, that pressure on margins, and therefore profitability, is likely to continue in the near term, the company said.The stock DHI, -9.58% tumbled 9.6% toward a six-week low in midday trading, which puts it on track to suffer the biggest one-day drop since the record 20. ...