In a press release, D.R. Horton said orders in the third quarter rose 6% to 15,588 homes but came in below expectations of 15,724. Orders rose 8% in value to $4.7 billion during the period.
Analysts were expecting third-quarter earnings of $1.06 a share on revenue of $4.48 billion.
"The D.R. Horton team delivered strong results in our third quarter. Our consolidated revenues increased 11% to $4.9 billion, and our pretax profit margin was 12.8%," said Chairman Donald R. Horton. "The spring selling season was solid, and our homebuilding gross margin improved sequentially.
Shares of D.R. Horton were up 3.33% to $45.47 in trading Tuesday.
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