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D. R. Horton reports preliminary Q4 home sales of $4.4bn

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Staff Writer |
D.R. Horton
D. R. Horton   Home sales revenue for the quarter increased 9%

D.R. Horton announced select preliminary results for its fourth quarter and fiscal year ended September 30, 2018 to provide an update relative to reported market conditions and recent events.

The Company’s homes closed in the fourth quarter of fiscal 2018 increased 11% to 14,674 homes, compared to 13,165 homes in the same quarter of fiscal 2017.

Home sales revenue for the quarter increased 9% to $4.4 billion from $4.0 billion in the same quarter of fiscal 2017. For the fiscal year ended September 30, 2018, homes closed increased 13% to 51,857 homes, compared to 45,751 homes in fiscal 2017. Home sales revenue in fiscal 2018 increased 14% to $15.5 billion from $13.7 billion in fiscal 2017.

Net sales orders for the fourth quarter ended September 30, 2018 increased 11% to 11,509 homes from 10,333 homes in the year-ago quarter, and the value of net sales orders increased 10% to $3.4 billion from $3.1 billion.

The Company’s cancellation rate (cancelled sales orders divided by gross sales orders) for the fourth quarter of fiscal 2018 was 26%, compared to 25% in same quarter of fiscal 2017.

Net sales orders for the fiscal year ended September 30, 2018 increased 13% to 52,740 homes from 46,605 homes in fiscal 2017, and the value of net sales orders increased 13% to $15.8 billion from $13.9 billion.

The Company's cancellation rate for fiscal 2018 was 22%, unchanged from fiscal 2017. At September 30, 2018, the Company’s sales order backlog of homes increased 8% to 13,371 homes and 8% in value to $4.0 billion, compared to 12,329 homes and $3.7 billion at September 30, 2017.


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