D.R. Horton, Inc. (NYSE:DHI) found its stock prices vault Wednesday, soon after the release of fourth-quarter figures.
Net income per common share attributable to “America’s Builder” for its fourth fiscal quarter ended September 30, 2022 increased 26% to $4.67 per diluted share compared to $3.70 per diluted share in the same quarter of fiscal 2021.
Net income increased 22% to $1.6 billion compared to $1.3 billion in the same quarter of fiscal 2021. Homebuilding revenue for the fourth quarter of fiscal 2022 increased 23% to $9.4 billion from $7.6 billion in the same quarter of fiscal 2021.
Homes closed in the quarter increased 6% to 23,212 homes compared to 21,937 homes closed in the same quarter of fiscal 2021.
For the fiscal year ended September 30, 2022, net income per common share attributable to D.R. Horton increased 45% to $16.51 per diluted share compared to $11.41 per diluted share in fiscal 2021. Net income attributable to D.R. Horton in fiscal 2022 increased 40% to $5.9 billion compared to $4.2 billion in fiscal 2021. Homebuilding revenue for the fiscal year ended September 30, 2022 increased 20% to $31.9 billion from $26.6 billion in fiscal 2021. Homes closed in fiscal 2022 increased 1% to 82,744 homes compared to 81,965 homes closed in fiscal 2021.
The home builder also said it would not provide guidance due to housing market uncertainty.
DHI shares began Wednesday up $2.70, or 3.7%, to $75.96.