D.R. Horton Second Quarter 2012 Numbers
Behind the Numbers:
Thanks to a tax benefit of $716.7 million, D.R. Horton posted a massive increase in income. However, even without the benefit, the company still turned a tidy income of $72.2 million, a 150% jump over last year in the same quarter. All the company’s regions were profitable in the quarter, increasing net sales even as the number of communities opened was down by 5%. That should change soon as the company brings online a raft of new lots it has optioned, 41% more lots than last year in the same quarter.
D.R. Horton’s fiscal year ends September 30.