D.R. Horton (DHI) Q2 Earnings and Revenues Surpass Estimates

Company Performance - D.R. Horton reported quarterly earnings of $3.52 per share, exceeding the Zacks Consensus Estimate of $3.08 per share, and up from $2.73 per share a year ago, representing an earnings surprise of 14.29% [1] - The company achieved revenues of $9.11 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 10.19%, compared to $7.97 billion in the same quarter last year [1] - Over the last four quarters, D.R. Horton has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [1] Market Performance - D.R. Horton shares have declined approximately 4.1% since the beginning of the year, while the S&P 500 has gained 5.3% [2] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates at $3.98 for the coming quarter and $14.21 for the current fiscal year [4] Industry Context - The Building Products - Home Builders industry, to which D.R. Horton belongs, is currently ranked in the top 15% of over 250 Zacks industries, indicating a favorable outlook [4] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, with D.R. Horton currently holding a Zacks Rank 2 (Buy) [3]