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D.R. Horton's earnings fall on weak housing
money ^ | November 14 2006

Posted on 11/14/2006 1:52:14 PM PST by stainlessbanner

Largest U.S. homebuilder beats analyst estimates in fiscal fourth quarter, despite seeing quarterly profit drop 51 percent.

NEW YORK (Reuters) -- D.R. Horton, the largest U.S. homebuilder, said Tuesday that quarterly profit fell 51 percent as orders declined, but results topped forecasts.

Net sales orders for new homes fell 25 percent to 10,430 from 13,950, while the dollar amount of these orders fell 33 percent to $2.53 billion from $3.75 billion.

Homes closed fell 7 percent to 17,261, while the backlog of homes under contract fell 6 percent to 18,125.

Full story here

(Excerpt) Read more at money.cnn.com ...


TOPICS: News/Current Events
KEYWORDS: drhorton; economy; housing; realestate

1 posted on 11/14/2006 1:52:23 PM PST by stainlessbanner
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To: stainlessbanner

Yet their stock closed up almost 10% on the day.


2 posted on 11/14/2006 2:05:42 PM PST by Dark Skies ("He who knows only his own side of the case knows little of that" ... John Stuart Mill)
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To: Dark Skies

They beat estimates, despite a huge loss in earnings this quarter. Big profit margins perhaps?


3 posted on 11/14/2006 2:17:09 PM PST by stainlessbanner
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To: stainlessbanner
Sure has two identical ranches that are out of this world.He lets his employees wives,and children enjoy them free.He also allows disadvantaged children to enjoy them as well.He started from the bottom up.He deserves his rewards.He is not a bad guy at all.
4 posted on 11/14/2006 2:39:46 PM PST by xarmydog
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To: stainlessbanner

Right now is definately the time to buy housing stocks ,,, all the bad news is in and they are rising on good quarterly reports (not fantastic but better than expected earnings) ,, their inventory of land continues to appreciate and with the RATS in power and higher taxes, hillarycare and such on the way the fed will be easing FOR SURE!


5 posted on 11/14/2006 7:53:42 PM PST by Neidermeyer
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