Home Builder D.R. Horton Misses Profit Estimates, Earnings Beat

Home Builder D.R. Horton reported fourth quarter profit that missed analyst estimates, despite an increase in sales. The company posted earnings of $166.3 million for the quarter, or 45 cents a share, up on last year's numbers. Revenue from home building rose to $2.4 billion, up from $1.8 billion last year. But the increased cost of sales and general expenses hit company profit margins, despite a 38% jump in home orders for Q4. New houses sold at the fastest rate in six years through September but the numbers are still being considered as sluggish. D.R Horton's new CEO David Auld said he was pleased with the company results and is raising sales incentives to push volume. D.R. Horton stock has risen around 5% this year.