ARLINGTON, Texas (AP) — ARLINGTON, Texas (AP) — D.R. Horton Inc. (DHI) on Tuesday reported fiscal fourth-quarter profit of $1.28 billion.
The Arlington, Texas-based company said it had net income of $3.92 per share.
The results missed Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $4.20 per share.
The homebuilder posted revenue of $10 billion in the period, which also did not meet Street forecasts. Sixteen analysts surveyed by Zacks expected $10.25 billion.
For the year, the company reported profit of $4.76 billion, or $14.34 per share. Revenue was reported as $36.8 billion.
D.R. Horton expects full-year revenue in the range of $36 billion to $37.5 billion.
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