ARLINGTON, Texas (AP) — ARLINGTON, Texas (AP) — D.R. Horton Inc. (DHI) on Tuesday reported fiscal fourth-quarter profit of $1.51 billion.
The Arlington, Texas-based company said it had profit of $4.45 per share.
The results surpassed Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $3.98 per share.
The homebuilder posted revenue of $10.5 billion in the period, also topping Street forecasts. Seventeen analysts surveyed by Zacks expected $10.07 billion.
For the year, the company reported profit of $4.75 billion, or $13.82 per share. Revenue was reported as $35.46 billion.
D.R. Horton expects full-year revenue in the range of $36 billion to $37 billion.