D.R. Horton Fourth Quarter 2012 Numbers
$66.3 M +139.4%
Behind the Numbers:D.R. Horton turned in its most profitable first fiscal quarter since 2007, and the builder sold and closed considerably more homes than it did in the fourth quarter of 2011. But perhaps its most stellar statistic was its average sales price, which grew by 60% in the value of new sales and by 38% in the value of homes closed during the quarter. The increase was due to larger homes, a shift in its geographic mix to more expensive markets, and pricing power, the company said.
“We experienced broad improvement in most of our markets this quarter, and we significantly increased our investments in homes under construction, finished lots, land, and land development to capture the increasing demand,” Donald R. Horton, chairman of the board, said in the earnings announcement. “D.R. Horton is the best positioned it has been in its 35 year history. We are looking forward to the spring selling season with optimism.”