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4.12354129727406E-05 -0.00103088532431652 -0.00301018514700421 -0.00663890148859835 -0.00193806440971506 0 -0.000865943672425795 0.00404107047132085
Stock impact report

America's largest homebuilder warns of slow spring selling season as affordability, confidence weigh on buyers [Yahoo! Finance Canada]

D.R. Horton, Inc. (DHI) 
Last d.r. horton, inc. earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: investor.drhorton.com
Horton ( DHI ), warned on Thursday that its key spring selling season has gotten off to a sluggish start as elevated mortgage rates and growing economic uncertainty continue to erode consumer confidence. "This year's spring selling season started slower than expected," D.R. Horton CEO Paul Romanowski told analysts and investors on the company's second quarter earnings call. "We have been more cautious due to continued affordability constraints and declining consumer confidence." The homebuilder reported a 15% year-over-year decline in net sales orders for its fiscal second quarter ending March 31, totaling 22,437 homes, falling short of analyst estimates for 26,228. Home closings also fell 15% year over year to 19,276, missing the analysts' forecast of 20,219 homes. The company's cancellation rate increased slightly to 16% from a year earlier for the second quarter, signaling some hesitancy among buyers compared to the prior quarter's 15% rate. D.R. Horton also dialed back its Show less Read more
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