M.D.C. Holdings Announces 2019 Fourth Quarter And Full Year Results
M.D.C. Holdings, Inc. (MDC)
Last m.d.c. holdings, inc. earnings: 1/30 06:00 am
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US:NYSE Investor Relations:
ir.richmondamerican.com/investor-relations
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Source: PR Newswire
DENVER, Jan. 30, 2020 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC), one of the nation's leading homebuilders, announced results for the quarter and full year ended December 31, 2019.Larry A. Mizel, MDC's Chairman and Chief Executive Officer, stated, "MDC finished the year on a strong note, generating fully diluted earnings per share of $1.42 in the fourth quarter, a 61% increase as compared to last year. We also achieved year-over-year improvements in our homebuilding gross margin and SG&A leverage, resulting in homebuilding operating margin expansion of 150 basis points. The sales environment continues to be favorable, as evidenced by the 49% growth in unit orders for the quarter. These demand trends have carried into the new year, giving our business strong momentum as we head into the spring selling season."Mr. Mizel continued, "For the full year 2019, we posted year-over-year improvements to both revenue and profitability, which resulted in fully diluted earnings per share
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