M.D.C. Holdings Reports Selected Preliminary 2019 Second Quarter Results and Announces Earnings Release Schedule
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, July 8, 2019 /PRNewswire/ -- In anticipation of investor meetings scheduled to occur before its final unaudited results will be available, M.D.C. Holdings, Inc. (NYSE: MDC), one of the nation's leading homebuilders, reported selected preliminary results for the 2019 second quarter. These results are preliminary and unaudited. 2019 Second Quarter Highlights and Comparisons to 2018 Second Quarter (preliminary and unaudited)Net new home orders increased 32% to 2,273 from 1,721 Monthly sales absorption pace increased 12% to 4.1; highest second quarter absorption pace since 2005Ending active subdivisions increased 14% to 187 from 164 New home deliveries of 1,514 compared with 1,512 a year ago Backlog conversion of 43%; high-end of range previously provided (41% to 43%) Average sales price of approximately $484,000 Homes in backlog increased 7% to 4,293 from 3,998 Largest number of homes in backlog since 2006Gross margins expected to exceed 19% (excluding impairments)Larry A. Mizel,
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