Homebuyers Cautious Due To 'Continued Affordability Constraints And Declining Consumer Confidence:' D.R. Horton Cuts Annual Outlook
D.R. Horton, Inc. (NYSE:DHI) reported second-quarter FY25 results on Thursday. Sales fell 15% year-over-year (Y/Y) to $7.73 billion, missing the consensus of $8.03 billion. EPS was $2.58, missing the consensus of $2.67. Net sales orders fell 15% Y/Y to 22,437 homes and decreased 17% Y/Y in value to $8.4 billion. Homebuilding revenue declined 15% Y/Y to $7.2 billion. Homes closed in the quarter fell 15% Y/Y to 19,276 homes. Also Read: Homebuilders Brace For Tough 2025, Analyst Downgrades D.R. Hor